Taxmann's Law Relating to Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 – Complete Treatise on the Black Money Law Supplemented with Case Laws PDF Download
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Author: Dr. Raj K. Agarwal Publisher: Taxmann Publications Private Limited ISBN: 9364552466 Category : Law Languages : en Pages : 31
Book Description
This book thoroughly explains the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 (Black Money Act), which addresses the issue of undisclosed foreign income and assets held by Ordinarily Residents in India. The book details the legal framework, including stringent assessment, valuation, and compliance procedures specific to the Black Money Act, distinct from the Income-tax Act, 1961. It covers the scope and applicability of the Act, outlines severe penalties and prosecution measures for non-compliance, and provides a critical analysis of emerging legal issues due to the Black Money Act's evolving nature. This book is helpful for tax professionals, legal practitioners, and others to understand the complexities of undisclosed foreign assets, aiming to provide practical insights and foster an understanding of the stringent regulations designed to curb illegal asset holdings abroad. The Present Publication is the 3rd Edition and has been amended by the Finance (No. 2) Act, 2024. This book is authored by Dr Raj K. Agarwal & Dr Rakesh Gupta, with the following noteworthy features: • [Purpose and Rationale] The book explains the need for a separate legal framework to address undisclosed foreign income and assets, differentiating it from the broader Income-tax Act, 1961. It outlines the stringent measures targeting individuals classified as Ordinarily Residents in India who possess undisclosed foreign income and assets and the severe penalties and prosecution provisions intended to curb such practices • [Scope and Applicability] Detailed coverage of the Black Money Acts' applicability to different categories of residents, including those converting from Non-Resident to Ordinarily Resident status, students studying abroad, and employees working abroad temporarily. It emphasizes the ongoing obligations of residents to declare all foreign assets in their income tax returns and the legal implications of non-compliance • [Assessment and Valuation] The book provides an in-depth analysis of the assessment and re-assessment processes for undisclosed foreign income and assets under the Black Money Act, highlighting the absence of a time limitation for such assessments. It details how these assets must be valued at current market prices rather than historical costs, ensuring that assessments reflect their true value • [Penalties and Prosecutions] A comprehensive analysis of the penalties and prosecution provisions, including a detailed commentary on when and how these measures can be invoked. The book addresses significant issues, such as the rationale behind the absence of time bars for assessments and the legal nuances of prosecuting non-compliance • [Critical Legal Issues and Case Law] Given the evolving nature of the Black Money Act, the book critically analyses emerging legal issues, providing the authors' opinions on various unresolved questions. It also reviews relevant case laws that have shaped the interpretation and enforcement of the Act, providing practical insights for legal practitioners • [Valuation Rules] Detailed examination of the valuation rules under the Black Money Act, including guidelines for computing the fair market value of different types of undisclosed foreign assets and the importance of using current market values for assessments • [Judicial Precedence and Evolving Interpretation] The book emphasizes the limited judicial precedence available for the Black Money Act, as it is a relatively new law. It highlights the ongoing evolution of legal interpretations and the authors' role in providing clarity through their expert opinions • [Continuous Amendments and Updates] The book is up-to-date with the latest amendments, including those made by the Finance (No. 2) Act, 2024, and reflects recent court decisions from the past year, ensuring readers have access to the most current legal landscape The chapter breakdown of the book is as follows: • Introduction o Overview of the Black Money Act, including its objectives, the rationale behind its enactment, and key features that distinguish it from the Income-tax Act • Applicability & Definitions o Detailed clarification of key terms and the Black Money Acts' applicability as outlined in Sections 1 and 2 • Charge, Scope & Computation o Comprehensive guidelines for calculating undisclosed foreign income and assets under Sections 3, 4, and 5 • Tax Authorities o Analysis of the roles and jurisdictions of tax authorities as per Sections 6 to 9 • Assessment Procedures o Detailed processes for the assessment and re-assessment of undisclosed foreign income and assets under Sections 10 to 14, including significant legal issues • Appeal & Revision o Step-by-step guidance on the appeal and revision mechanisms available under the Black Money Act, covering Sections 15 to 29 • Recovery of Tax & Interest o A thorough understanding of the tax recovery mechanisms, including rules on interest and enforcement actions under Sections 30 to 40 • Penalties o In-depth examination of penalties imposed under Sections 41 to 47, including interpretations and possible defences for non-compliance • Prosecution o Comprehensive coverage of prosecution measures under Sections 48 to 58, detailing conditions under which legal actions can be initiated • Declaration Scheme o A guide to the declaration scheme available under Sections 59 to 72, designed to facilitate compliance for those with undisclosed foreign assets • General Provisions & Valuation Rules o Analysis of the general provisions and valuation rules under Sections 73 to 88, including methodologies for valuing various asset types • Additional Resources o The book includes appendices with relevant forms, CBDT circulars, notifications, and extracts from other related laws
Author: Dr. Raj K. Agarwal Publisher: Taxmann Publications Private Limited ISBN: 9364552466 Category : Law Languages : en Pages : 31
Book Description
This book thoroughly explains the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 (Black Money Act), which addresses the issue of undisclosed foreign income and assets held by Ordinarily Residents in India. The book details the legal framework, including stringent assessment, valuation, and compliance procedures specific to the Black Money Act, distinct from the Income-tax Act, 1961. It covers the scope and applicability of the Act, outlines severe penalties and prosecution measures for non-compliance, and provides a critical analysis of emerging legal issues due to the Black Money Act's evolving nature. This book is helpful for tax professionals, legal practitioners, and others to understand the complexities of undisclosed foreign assets, aiming to provide practical insights and foster an understanding of the stringent regulations designed to curb illegal asset holdings abroad. The Present Publication is the 3rd Edition and has been amended by the Finance (No. 2) Act, 2024. This book is authored by Dr Raj K. Agarwal & Dr Rakesh Gupta, with the following noteworthy features: • [Purpose and Rationale] The book explains the need for a separate legal framework to address undisclosed foreign income and assets, differentiating it from the broader Income-tax Act, 1961. It outlines the stringent measures targeting individuals classified as Ordinarily Residents in India who possess undisclosed foreign income and assets and the severe penalties and prosecution provisions intended to curb such practices • [Scope and Applicability] Detailed coverage of the Black Money Acts' applicability to different categories of residents, including those converting from Non-Resident to Ordinarily Resident status, students studying abroad, and employees working abroad temporarily. It emphasizes the ongoing obligations of residents to declare all foreign assets in their income tax returns and the legal implications of non-compliance • [Assessment and Valuation] The book provides an in-depth analysis of the assessment and re-assessment processes for undisclosed foreign income and assets under the Black Money Act, highlighting the absence of a time limitation for such assessments. It details how these assets must be valued at current market prices rather than historical costs, ensuring that assessments reflect their true value • [Penalties and Prosecutions] A comprehensive analysis of the penalties and prosecution provisions, including a detailed commentary on when and how these measures can be invoked. The book addresses significant issues, such as the rationale behind the absence of time bars for assessments and the legal nuances of prosecuting non-compliance • [Critical Legal Issues and Case Law] Given the evolving nature of the Black Money Act, the book critically analyses emerging legal issues, providing the authors' opinions on various unresolved questions. It also reviews relevant case laws that have shaped the interpretation and enforcement of the Act, providing practical insights for legal practitioners • [Valuation Rules] Detailed examination of the valuation rules under the Black Money Act, including guidelines for computing the fair market value of different types of undisclosed foreign assets and the importance of using current market values for assessments • [Judicial Precedence and Evolving Interpretation] The book emphasizes the limited judicial precedence available for the Black Money Act, as it is a relatively new law. It highlights the ongoing evolution of legal interpretations and the authors' role in providing clarity through their expert opinions • [Continuous Amendments and Updates] The book is up-to-date with the latest amendments, including those made by the Finance (No. 2) Act, 2024, and reflects recent court decisions from the past year, ensuring readers have access to the most current legal landscape The chapter breakdown of the book is as follows: • Introduction o Overview of the Black Money Act, including its objectives, the rationale behind its enactment, and key features that distinguish it from the Income-tax Act • Applicability & Definitions o Detailed clarification of key terms and the Black Money Acts' applicability as outlined in Sections 1 and 2 • Charge, Scope & Computation o Comprehensive guidelines for calculating undisclosed foreign income and assets under Sections 3, 4, and 5 • Tax Authorities o Analysis of the roles and jurisdictions of tax authorities as per Sections 6 to 9 • Assessment Procedures o Detailed processes for the assessment and re-assessment of undisclosed foreign income and assets under Sections 10 to 14, including significant legal issues • Appeal & Revision o Step-by-step guidance on the appeal and revision mechanisms available under the Black Money Act, covering Sections 15 to 29 • Recovery of Tax & Interest o A thorough understanding of the tax recovery mechanisms, including rules on interest and enforcement actions under Sections 30 to 40 • Penalties o In-depth examination of penalties imposed under Sections 41 to 47, including interpretations and possible defences for non-compliance • Prosecution o Comprehensive coverage of prosecution measures under Sections 48 to 58, detailing conditions under which legal actions can be initiated • Declaration Scheme o A guide to the declaration scheme available under Sections 59 to 72, designed to facilitate compliance for those with undisclosed foreign assets • General Provisions & Valuation Rules o Analysis of the general provisions and valuation rules under Sections 73 to 88, including methodologies for valuing various asset types • Additional Resources o The book includes appendices with relevant forms, CBDT circulars, notifications, and extracts from other related laws
Author: Dr. Rakesh Gupta Publisher: Friends Publications (India) ISBN: 9390649803 Category : Education Languages : en Pages : 225
Book Description
Rapid developments in electronic technology have made important effects on Education systems in the world. It is doubtless that new technology has affected both economical system and social and education system. People who plan the future education have to know where this technology inclines to and act considering this. Technology is a powerful mean to re form schools, increase students’ success and makes education effective. In the history of various country's cultures physical education has served people for differing purposes. Since the primitive ages, physical activities have played an important role in the society formally or informally. Physical activities have been needed for a number of reasons; such as, defense, environmental factors and continuing the lives. In some other situations, the most important motive for physical activity has been the longing for a more quality life. It was found that the use of technology in physical education programs increased the motivation to materials offered and learning. Physical education teachers have started to be enthusiastic n using the technology together with the potential of the internet in their class. The results of the studies showed that the use of technology in physical education as a teaching tool could be useful for both the teachers and the students. Technology offers the atmosphere which can provide students autonomous learning.
Author: Dr. Rakesh Gupta Publisher: Friends Publications (India) ISBN: 9388457951 Category : Education Languages : en Pages : 278
Book Description
Curriculum Design may be defined as a strategic process of informed and deliberate construction of learning opportunities to enable learners to achieve the appropriate level and scope of discipline skills, knowledge and understanding on completion of a unit of study. The curriculum should be broad-based so as to accommodate the needs of varied categories of pupils, so that they are able to take up subjects and participate in activities according their capacities and interests. The book covers: Modern Concept of the Curriculum, Basic Guideline for Curriculum Construction, Contest (Selection and Expansion) Curriculum-Old and New Concepts, Mechanics of Curriculum Planning Undergraduate Preparation of Professional Preparation
Author: Rakesh Gupta Publisher: Packt Publishing Ltd ISBN: 1787281825 Category : Computers Languages : en Pages : 442
Book Description
Click your way to automating various business processes using Salesforce Visual Workflow About This Book Develop an application using Point and Click with the help of Flow Get to grips with various ways to launch a Flow Capture data from an external user without using the Visualforce page Save user input into the database, and learn how to query and manipulate the data Discover various ways to debug and deploy Flow and Process Builder Understand the concepts of Subflow and Login Flow Handle complex business processes using Process builder and keep them clean Use existing or new Flows to work with Salesforce Lightning Experience. Who This Book Is For This book is intended for those who want to use Flows to automate their business requirements by clicking, not coding. No previous experience in computer coding or programming is required What You Will Learn Develop an application using point and click with the help of Flow Get to grips with various ways to launch a Flow Capture data from an external user without using the Visualforce page Save user input into the database, and learn how to query and manipulate the data Discover various ways to debug and deploy Flow and Process Builder Understand the concepts of Subflow and Login Flow Handle complex business processes using Process builder and keep them clean Use existing or new Flows to work with Salesforce Lightning Experience. In Detail Salesforce Management System is an information system used in CRM to automate the business processes like sales and marketing. To implement this, Force.com developed a powerful tool called Visual Workflow to automate business processes by creating applications also called Flows. Learning Salesforce Visual Workflow, Second Edition is a practical guide on Flows that will enable you to develop custom applications in Salesforce with minimized code usage. The book starts with an introduction to Visual Workflows that teaches all the building blocks of creating Flows and use it efficiently. You will learn how to easily automate business processes and tackle complex business scenarios using Flows. The book explains the working of the Process Builder so you can create reusable processes. The book also covers how you can integrate existing or newly created Flows with the Salesforce Lightening Experience. By the end of the book, you will get a clear understanding on how to use Flows and Process Builder in your organization to optimize code usage. Style and approach Step by step approch to use Process Builder to solve complex business requirements with the help of Flow
Author: Rakesh Kumar Gupta Publisher: Springer ISBN: 9789402403619 Category : Science Languages : en Pages : 0
Book Description
This Book intends to address all aspects needed to develop beekeeping into a powerful instrument of rural development and will focus on beekeeping as a tool for Poverty Alleviation and Livelihood security. In the backdrop of the social and economic issues of the people living in poverty region, the book aims to delineate specific motivation approaches to engage them in beekeeping and will serve as a guide for effective marketing through diversification and value addition of bee products. Nevertheless, marketing and environmental issues will remain an important component of this book. The aim is also to focus on indirect benefit of beekeeping so that it is integrated with farming and nature conservation. Other topics include ensuring the provision of practical techniques in handling and management of bees. It will provide detailed information on good contacts with policymakers and authorities; and channels for attracting finance especially in the third world countries. An interdisciplinary approach is the key feature of the book and it will also focus on few case histories and success stories to encourage the reader to take up beekeeping as a new venture gradually in a phased manner like traditional-transitional and modernised beekeeping. With the publication of this book, we hope to hand out a practical guide that will assist all those who are involved in beekeeping for development. We hope it will stimulate beekeeping as an integrated activity with farming and nature conservation and will serve in many households for poverty alleviation and livelihood security.
Author: Taxmann Publisher: Taxmann Publications Private Limited ISBN: 9364555090 Category : Law Languages : en Pages : 18
Book Description
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
Author: Sharon Hanson Publisher: Cavendish Publishing ISBN: 1843140616 Category : Law Languages : en Pages : 366
Book Description
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.
Author: Dr. H.C. Mehrotra, Dr. S.P. Goyal Publisher: Sahitya Bhawan Publications ISBN: 9351730786 Category : Business & Economics Languages : en Pages : 358
Book Description
The present edition of the book has been thoroughly revised and enlarged. Salient Features of the Book: The legal position as amended up to June 2020 is given. The law stated in the book is on the basis of the Income Tax Act, 1961 and the Income Tax Rules, 1962 as amended up to date, besides the Finance Act, 2020 and Circulars and Notifications issued by Central Board of Direct Taxes up to June 2020. A simplified, systematic approach to the understanding of a complex subject written in a unique, simple and easy to understand language. Each topic, after a theoretical exposition, is followed by illustrations to facilitate the students to master the practical application of Corporate Tax Law. The book is useful for the students of all professional examinations like M.B.A., C.A., C.S., ICWA, and M.Com. and the persons who are interested in Tax Planning.
Author: Dr. Raj K. Agarwal
Author: Dr. Raj K. Agarwal
Author: Dr. Rakesh Gupta
Author: 
Author: Dr. Rakesh Gupta
Author: Rakesh Gupta
Author: S N Maheshwari
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Author: Taxmann
Author: Sharon Hanson
Author: Dr. H.C. Mehrotra, Dr. S.P. Goyal