When I started answering queries on Income tax, on few web sites, six years ago, after I retired from Income tax department as Income tax officer, I had no idea what the response might be. I was amazed when hundreds of people joined the Challenge. The challenge of getting satisfaction to their queries answered. It seems that there is a quiet revolution in progress. It inspired me to start my Blog to answer your doubts.
If you start reading Income tax act, most of the sections start with these words…. For example, Section 44AD of Income tax act 1961, begins with the wordings “Notwithstanding anything to the contrary contained in sections 28 to 43C”. This means that if there is anything which is contradicting the provisions of Section 44AD, then the provisions mentioned in the section 44AD will override those provisions and such provisions will not be applicable. In short, provisions of section 44AD have overriding effect over sections 28 to 43C unless and until mentioned otherwise. Therefore, before reading section 44AD, you have to be familiar with sections 28 to 43C along with all its subsections.
Most of the times reading and understanding Income tax appears tedious, confusing and a mind boggling exercise. If you attempt to read bare Income tax act, in night, you will get into sleep before completing a section. Hence, you get considerable doubts and need lot of clarifications. Having worked with Income tax department for the past 4 decades, I assure you that I will try to meet your expectations to the best of my knowledge, experience and ability in this blog.