The Hindu Business Line : Revised tome on I-T laws launched in Kolkata

RELEASING the 14th edition of the book `How to handle income-tax Problems,' Mr P. C. Sinha, Chief Commissioner of Income Tax-1, Kolkata, said that the massive effort to present all the income-tax laws in a simplified FAQ format should go a long way in encouraging greater tax compliance.The book is jointly authored by the tax advocate and consultant, Prof Narayan P. Jain, and the visually challenged chartered accountant Mr Dilip Loyalka.

Lauding the efforts of the authors, who have produced 14 editions in the last 12 years, Mr Sinha said that such a book could be written only if one was able to put himself in the shoes of a user of tax laws, be it an assessee or even a practitioner. The 1,900-page tome will be handy even for the tax administrators, he added.

The latest edition, which analyses the new provisions relating to the fringe benefit tax and the banking cash transaction tax, is meant for both taxpayers and tax professionals. The book covers all the amendments and decisions by courts and various appellate bodies in an updated form.

Mr R. Sharan, Director-General of Income Tax (Investigations), East, said that developing a tax culture in the country is of utmost importance for ensuring proper tax compliance.

Mr Justice A. K. Mathur of the Supreme Court pointed out that the current edition of the book contains valuable suggestions on how assessees should carry out tax planning so that they may always remain on the right side of law and discharge their civil liability towards the nation.

Mr Samir Mukhopadhyay, CIT-Appeals, said the book should be made available to all departmental commissioners, as it particularly highlights the various Court decisions, which favour the department as well as the assessee.

The tome is published by Book Corporation, Kolkata and ispriced Rs 1,300 (two volumes).

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