Logic behind taxation

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pratik m bhatt (Querist)
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19 December 2011 i want to become a professor in direct and indirect taxes....i want to know the logic or reasoning behind all the sections of the income tax act, 1961.....can any one help me?suggest some books or any other way...

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 December 2011 Good. My best wishes in Advance.
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Tax laws changes frequently. The logic behind any change is given in the Explanatory notes to every Budget or in the notifications.
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Govt. requires money. Through taxes it gets money. Tax payer always wants to pay lesser tax whereas Govt requires more and more. Sections are framed to locate the provisions easily. These are arranged chapterwise.
There is no scientific formula for nomenclature of a section. Some times suffixes like A, B, C, D or AA, AB, AC... are inserted with a number. The purpose remains the same as I wrote above.
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You have to refer the books, magazines and latest amendments on net.

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anurag

anurag (Expert)
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20 December 2011 For becoming a professor u have to qualify NET exam and perhaps to do PhD, till than such concepts will be clear to u automatically.
For now I can say that taxation requires a lot of time to understand its background and practice.

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pratik m bhatt

pratik m bhatt (Querist)
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20 December 2011 Sir,
what is this NET exam?

Guest

Guest (Expert)

20 December 2011 20th December, 2011

Dear Pratik,

It is good that you are interested to pursue a career in Direct & Indirect Taxation. I suggest you read the concise "Income Tax Ready Reckoner" written by V G Mehta which is an annual direct taxation publication. All the best.

FCA Prashant Chavan
Mumbai - 9920299337

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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20 December 2011 NET is meant for The National Educational Testing Bureau. It works under the University Grants Commission (UGC). National Eligibility Test (NET) is conducted to determine eligibility for lectureship and for award of Junior Research Fellowship (JRF) for Indian nationals in order to ensure minimum standards for the entrants in the teaching profession and research.

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