Expenditure Not Includible in Total Income

Expenditure Not Includible in Total Income is a focused and practical guide addressing the treatment of expenses under the Income Tax Act that do not form part of taxable income. The book clarifies the distinction between allowable and non-allowable expenditures and highlights specific exemptions available to individuals, businesses, and corporates.

Covering business expenses, professional expenses, charitable contributions, and statutory exemptions, the book enables readers to compute total income accurately while optimizing for permissible deductions. It also discusses legal interpretations, relevant case laws, and practical examples to provide a complete understanding of the principles governing non-includible expenses.

Structured for clarity and application, this guide helps chartered accountants, tax consultants, corporate advisors, and students navigate complex tax provisions effectively. By simplifying statutory provisions and providing actionable insights, the book ensures professionals can maintain compliance while leveraging exemptions to reduce taxable income. It is a valuable resource for both advisory and academic purposes, bridging theory with practical application.