Income Tax in Theory & Practice

Among the various indices of ability-to-pay taxes, income isregarded by far the most appropriate. Part I of this book examinesvarious analytical and policy issues associated with the designingof an income tax system. Part II of the book describes in simplelanguage the otherwise complex law of income tax in India. Ittraces, in brief, the history of income tax legislation in Indiaand describes the existing constitutional provisions and legalframework of income tax. Besides, it states the main provisions ofthe Income Tax Act, 1961 and explains the law and procedure ofassessment of taxable income. Finally, it critically evaluates thepresent system of income tax in India.