This book is an exhaustive guide to the complex landscape of undisclosed incomes and the taxation of gifts, providing a thorough analysis supported by relevant case laws. It examines the legislative provisions under the Income Tax Act, 1961, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, and the Prohibition of Benami Property Transactions Act, 1988. It is designed to equip tax professionals, legal practitioners, accountants, auditors, and other stakeholders with the necessary knowledge to understand the complexities of tax compliance, planning, and dispute resolution in these areas. The Present Publication is the 13th Edition and has been amended by the Finance (No. 2) Act 2024. This book is authored by Taxmann's Editorial Board with the following noteworthy features: • Comprehensive Coverage of Undisclosed Incomes o Thorough Discussion of Provisions § The book analyses the provisions related to undisclosed incomes, such as unexplained investments, unexplained cash credits, and other unreported assets. It thoroughly discusses these topics in the light of relevant provisions under the following: ■ Income Tax Act, 1961 ■ Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ■ Prohibition of Benami Property Transactions Act, 1988 o Case Law Analysis and Practical Application § Detailed discussions are supported by case laws that highlight the judicial interpretations and practical applications of these provisions, providing readers with a clear understanding of the legal nuances involved in cases of undisclosed income o Ready Reckoners for Legal Consequences § A unique feature of the book is the inclusion of a ready reckoner that outlines the possible legal consequences of investments under various laws, depending on the source, nature of income, and manner of investment. This ready reckoner serves as a quick reference tool, helping practitioners assess the potential outcomes of various investment scenarios, ensuring informed decision-making o Analysis of Shell Companies § Applicability of Section 68 and Benami Act ■ The book provides an in-depth examination of the applicability of Section 68 and the Benami Property Transactions Act to monies routed through shell companies, highlighting the legal and tax implications of using such entities § Case Law Analysis ■ It discusses relevant case laws that shed light on how funds routed through shell companies are scrutinized by tax authorities, offering guidance on compliance and risk mitigation strategies • Extensive Coverage of Gift Taxation o Taxability of Various Gifts § The book comprehensively covers the taxation of gifts, providing detailed discussions on: ■ Awards and Rewards – Tax implications of awards and rewards given to Olympic heroes ■ Financial Benefits – Analysis of the taxability of cashbacks, loan waivers, and one-time settlements of NPAs by banks when received by individuals or entities ■ Promotional and Corporate Gifts – Taxation of gifts to brand ambassadors and freebies given by pharmaceutical companies to doctors, highlighting the tax consequences of these promotional practices ■ Personal and Financial Transactions – Examination of the taxability of alimony received, family settlements, bonus shares, and rights shares received by shareholders, providing comprehensive guidance on personal financial transactions o Ready Reckoner for Relatives § A ready reckoner provides a detailed list of relatives to whom gifts can be made without attracting tax liabilities for the recipient, facilitating tax-efficient gift planning and compliance • Ready Reckoners for Property Transfers o Immovable Property Transfers § Comprehensive Tax Guidance – The book also addresses the taxation of gifts involving immovable property, such as land and buildings, whether received without consideration, for consideration less than the stamp duty value or when the value is indeterminable § Detailed Ready Reckoner – The ready reckoner concisely summarises the tax implications for the transferor/donor and recipient/donee, providing a clear roadmap for managing property-related tax issues. o Movable Property Transfers § Taxation of Specified Movable Properties – The book also covers the taxation of gifts involving specified movable properties, including jewellery, shares, securities, bullion, works of art, and virtual digital assets § Ready Reckoner for Movable Property – The ready reckoner summarises the tax implications for transfers where consideration is below fair market value or not ascertainable, providing practical guidance for accurate tax reporting and compliance in complex asset transactions

This textbook provides students with the knowledge of basic accounting principles and practices concerned with preparing and presenting corporate accounts in a systematic manner. The unique feature of this book is the simplicity of presentation which enables students to understand the subject and solve practical problems with ease. The main strengths of the book are the plentiful illustrative examples and the end-of-chapter exercises with answers. The wide coverage and user-friendly approach makes the book to comprehensively meet the requirements of students studying Corporate Accounting as a subject at B.Com & BBA examinations of different Indian universities based on Choice Based Credit System (CBCS).

The competent study of law is a finely tuned balance of excellent language ability, good reading and writing skills, good personal study discipline, a thorough appreciation of the relevant areas of substantive law and excellent argumentative skills. Legal method is an important area of study for two main reasons. First, it is important for the range of techniques that it can offer to break into legal texts, both primary and secondary. Secondly, it exposes reasoning processes concerned with the theory and practise of law. The book deals in both the areas mentioned, and aims to deal with issues of.

Knowledge of legal language and the ability to use it effectively are essential requirements for students who have chosen to study law. A comprehensive course in English specially prepared for undergraduate students of law, this book aims to train students in both these aspects.

Business Laws: Text and Problems offers a comprehensive coverage of the fundamentals of legal aspects of business. Written exclusively to serve as a companion for courses on business law, the book spans 27 chapters, providing concise and lucid explanation of the Indian Contract Act, 1872; Negotiable Instruments Act, 1881; Sale of Goods Act, 1930; Limited Liability Partnership Act, 2008 and Information Technology Act, 2000. To make the topics relatable and showcase the practical applications of these acts, each chapter is laced with examples from different sectors. Key Features: - Relates legal acts and provisions of business to leading examples for practical explanation and easier understanding - Appendix comprising consolidated explanation of important keywords and concepts for easy access and quick recollection - Objective-type questions, test questions and practical problems with hints for practice and self-evaluation - Previous years' examination question papers of business laws for students to have a clear idea of the question pattern in examinations - Rich companion website including PPTs for classroom use, case studies, practice questions and teaching notes