Logic behind taxation
This query is : Resolved
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...
19 December 2011
Good. My best wishes in Advance.
.
Tax laws changes frequently. The logic behind any change is given in the Explanatory notes to every Budget or in the notifications.
.
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.
.
You have to refer the books, magazines and latest amendments on net.
.
Tax laws changes frequently. The logic behind any change is given in the Explanatory notes to every Budget or in the notifications.
.
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.
.
You have to refer the books, magazines and latest amendments on net.
Message likes :
1 times
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.
For now I can say that taxation requires a lot of time to understand its background and practice.
Message likes :
1 times
20 December 2011
Sir,
what is this NET exam?
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
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
Message likes :
1 times
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.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Traces submitting correction statement error
- ITR-3 File/Error Found
- Difff in ais receipts and gst turnover
- Banking Related Issue
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
