R.N. Lakhotia (Ram Niwas Lakhotia) and Subhash Lakhotia have done the excellent job of providing authoritative guidance about various practical and tested ways of tax saving that any one can gainfully adopt. R. N. Lakhotia, an advocate and tax consultant, is the well known authority in income tax laws and taxation. This expert has written about 100 books or more on taxation and his taxation columns are popular in many more National newspapers. Subhash Lakhotia is equally popular income-tax practitioner for over 30 years and has penned number of books.
The text covers the subject in depth. The style is very simple and the language used is understandable even to beginner. The text is updated to suit the prevailing IT rules. The authors have taken much pain to cover all clauses and sub-clauses of IT Act / IT Rules and amendments. The volume can be read at one stretch and most often it is being used as a reference source for salaried income or income from house property, capital gains or interest, since it comprise practical examples and guidance provides. It will be much useful to all individuals and Hindu Undivided Families (HUFs).
The authors are clearly recommending intelligent tax planning to save the amount income tax we pay annually and the amount saved is the profit. To be really profitable one must do tax planning continuously.
The illustrations and examples are drawn from real life examples. The authors have carefully planned the chapters and sections to include all aspects in total from tax saving point of view. The text illustrates in detail how the tax could be saved under clauses like: (a). the full claim of exemptions and rebates; (b). perquisites and allowances; (c). investments; (d). house properties; (e). gifts and trusts; (f). Hindu Undivided Family structure; (g). residential status (rented house or own house). The tables, charts, illustrations and ready reckoners are provided wherever needed.