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When a tax guide that claims to demystify a piece of legislation rolls hot off the press within hours of parliament approving the bill, you`re tempted to prejudicially dismiss it as a quickie, a slapdash effort that`s been put together to cash in on the moment. But this book, a guide to two of the most controversial provisions in Budget 2005 (which were subsequently amended), isn`t one bit like that.
The authors, established tax practitioners both, have put together an illuminating, lucid analysis of the minutiae of the two tax measures, with the emphasis on delineating how the provisions impact you.
So you get a snapshot of just what constitute fringe benefits and deemed fringe benefits, how they are valued and at what rate they are taxed, what the exceptions to the rule are, and how the measures will impact employers directly, and employees as a consequence. Likewise with the banking cash transaction tax.Far too often, tax guides get bogged down in the oddly comical lexicon of tax practitioners: hereinafters and wherefores pepper the pages, and the fine distinction between various sections, sub-sections and clauses are enough to make your head spin. Ahuja, whose lectures for chartered accountancy students in Delhi are legendary, and Gupta have distilled the legislative prose to make it accessible for anyone who wants a quick impact assessment of these two tax measures. The FAQs that follow each section further flesh out the nuances of the law. An eminently useful handy guide-book for tax professionals, employers and employees alike." (Emphasis supplied) ISBN: 9788177334630
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Pages : 564
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