Taxation of Loans, Gifts & Cash Credits
Edition: 14th Edition
Year: 2025 (As amended by Finance Act 2025)
About the Book:
When it comes to navigating the grey areas of financial transactions—loans, gifts, and unexplained cash credits—this book is your definitive guide. Taxation of Loans, Gifts & Cash Credits by Taxmann demystifies some of the most complex and scrutinized sections of the Income-tax Act, making it an indispensable reference for professionals and institutions alike.
With in-depth analysis backed by practical illustrations, flowcharts, and real-life scenarios, this 14th edition offers a ready reckoner approach that’s quick to consult and easy to apply. Updated as per the Finance Act 2025, this edition ensures you’re always compliant, audit-ready, and fully aware of how even the smallest gifts or loans could trigger a tax liability under Sections 56(2)(x) and 68.
Key Features:
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Deep Dive into Tax Consequences: Learn how the origin and nature of income and investment channels affect your tax liability—whether you’re the giver or receiver.
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Gift Provisions Explained Clearly: Know who qualifies as a 'relative' and how to legally structure gifts to avoid tax under Section 56(2)(x)(a).
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Section 68 Clarity: Tackle anonymous donations and unexplained cash credits with confidence—essential for charitable trusts and NGOs.
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Visual Learning Tools: Flowcharts, summary tables, and illustrations simplify even the most complicated provisions.
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Audit & Litigation Preparedness: Ideal for facing scrutiny from tax authorities with clarity and documented understanding.
Ideal For:
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Chartered Accountants, Tax Consultants & Lawyers
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Finance Heads & Compliance Officers of NGOs and Trusts
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Students appearing for CA/CS/LLB exams
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Anyone dealing with high-value financial transactions
If you deal in money—and who doesn’t—this book is not a luxury, it's a legal necessity.
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Caveat Legalis: Description based on available details—interpret with due diligence!