Tax-Free Incomes and Investments

Your A-to-Z ready-reckoner of zero-tax incomes & investments

The twenty-second edition has been thoroughly revised and updated in view of the sea changes brought in by the Finance Act, 2016 under the Income-tax Act, 1961. This book has been written in an alphabetical order with suitable cross reference in a simple and lucid language for easy understanding of readers. It serves as a ready-reckoner for tax planning and reducing the overall tax burden for assessees.

Salient Features:

• Includes practical examples with more than 100 items of tax-free incomes and investments which result in tax-free income
• Judicial pronouncements have been examined and mentioned as appropriate
• Discusses investments which result into tax-free income or zero-level income tax to the investors
• Helps a tax-payer in reducing his overall tax burden and even to attain a zero-tax status legally
• Contains areas like agricultural income, casual income, share of profit of a partner from a partnership firm, dividends on shares and units of mutual funds, interest on Relief Bonds, moneys received from the LIC, interest income of NRIs on deposit in Non-Resident (External Account)
• Includes various types of allowances granted to an employee like the conveyance allowance, uniform allowance, DA, TA, etc.
• Discusses the tax-free income on new industrial undertakings established in the Free Trade Zones, SEZs and 100% EOUs which enjoy 5 to 10 year complete tax holiday
• Covers provisions relating to 5-year complete tax holiday to new industrial undertakings in certain backward States and Union Territories, etc.