The document discusses various types of income that are taxable under specific heads of income, including salaries, dividends, and interest, providing explanations and tax implications for each. It also introduces Taxmann's class notes for direct tax laws and international taxation, aimed at simplifying the study material for students while adhering to the latest syllabus. The notes highlight essential features such as visual aids, color coding for clarity, and updates relevant for examination preparation.

1. Sample
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9. Any In.come n.ot ch.a.r9ea.ble to tax u.n.d.er th.e 0th.er 4 h.ea.d.s of in.come (Sa.Lary, !FHP, P�BP a.n.d. Capital
�a.in.s) will be taxable u.n.d.er th.e h.ea.d. IFOS.
- -
I In.comes taxable u.n.d.er th.e h.ea.d. IFOS - ILLustrative List
a.) Divid.en.d. In.come - Refer 'Taxation of Dividends & Income from units'
b) Ca.su.a.l In.come taxable u./s 115B8 - Refer •Rates of taxes"
c) Royalty In.come
--
d.) In.terest on. compen.sa.tion./en.h.a.n.ced. compen.sa.tion. on. compu.lsory a.c�u.isition.
- Taxa.ble on.Ly in. th.e year of receipt
- 50% of th.e same sh.a.LL be allowed. as d.ed.u.ction. u./s 57
-- - --
e) In.come from lettin.9 ou.t on. h.ire of P&M or fu.rn.itu.re
p In.terest on. secu.rities If n.ot ch.a.r9ea.ble
9) In.come from lettin.9 ou.t of fu.rn.ish.ed. a.ccommod.a.tion. (if in.separable) u.n.d.er 0th.er h.ea.d.s
h.) Proceeds from Keyma.n. In.su.ra.n.ce Policy
-- ...
i) Sa.Lary of MPs, MLAs or MLCs
j) Forfeitu.re of Ad.va.n.ce mon.ey received. a.�er 1st
April 2014 for tra.n.sfer of capital assets
k.) Compen.sa.tion. or a.n.y 0th.er pa.ymen.t received. in. con.n.edion. with. termin.a.tion. of employmen.t /if
-- - received for business, taxable under PqBP.)
l) In.terest on. In.come Tax
m) In.terest from a.n.y deposits ma.de
In.terest on. Post offLce Savin.gs exempt to th.e exten.t of:
-- - � 3,500, if in.d.ivid.u.a.l a./c
- � 7,500, if join.t a./c
n.) Amou.n.t received. u.n.d.er Family pen.sion.:
Exempt u.pto: 'rn 1/3 of pen.sion. received. (or)
�� � 15,000
o) Premiu.m on. issu.e of sh.a.res
p) 9�s
--
" Class Notes

21. Description
Taxmann’s CLASS NOTES for Direct Tax Laws & International Taxation is a one-stop solution to conquer
the vast subject of Direct Taxation with ease. The objective behind this book is to minimize the need to
consult multiple voluminous books while revising the day before the exam.
This book aims at providing all concepts in a simple language, with proper linking and a smart sequential
approach. It also explains the provision of the law without resorting to paraphrasing of sections or legal
jargons.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by
CA V. Rahul Agarwal, with the following noteworthy features:
 Strictly as per the New Syllabus of ICAI
 [Pictorial Presentation/Charts with Handwritten Fonts] are used in the book for easy understanding of
theoretical concepts
 [Multi-Colour Coded Book] which follows the below structure:
n Blue – Heading
n Black – Main Content
n Red – Summarised version of the main content
n Green – Amendments applicable for the examination
n Yellow Highlights – Key adjustments to be highly cautious of; ‘The Accident-Prone Zones’
n Blue Boxes – Significant selected Case Laws provided by ICAI
n Green Boxes – Authors personal notes for better understanding and clarity
 [Amendments for November 2021 Examination] are provided at the end of the module
Rs. 895 | USD 49
AUTHOR : RAHUL AGARWAL
PUBLISHER : TAXMANN
DATE OF PUBLICATION : JULY 2021
EDITION : 2ND EDITION
ISBN NO : 9789390831708
NO. OF PAGES : 538
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CLASS NOTES
Direct Tax Laws and
International Taxation