Expert guidance on computing your taxes and trouble-free assessments

It is in the best financial interests of every taxpayer to have a clear grasp, of the key essentials of income tax, even if you have back-up help of a CA or tax expert. Here is must-know expert guidance on computing your income and taxes — and trouble-free assessment of your tax returns. In simple, clear style, Mr. Lakhotia provides you expert guidance on:

• How to compute your taxable income from different sources: salary, house property, business, profession, etc.
• Which incomes are taxed — and which are not.
• All the tax-saving exemptions, rebates, and reliefs you are eligible for.
• Deductions you can avail of when computing your total taxable income.
• How different taxpayers are assessed: Individuals, HUFs, Firms, Companies, Non-Residents, etc.
• Procedure for filing an appeal when you think you have been assessed wrongly.
• Penalties and prosecution: when these apply and how to avoid them.
• Procedure of tax refunds — and much, much more.

Plus: Income Tax Rates for A.Y. 2013-14 and A.Y. 2014-15