Income Tax Assessment of Trade Specific Sectors

This 2025 Edition of Income Tax Assessment of Trade Specific Sectors by Ram Dutt Sharma provides a comprehensive and practical reference for assessing officers, tax professionals, and businesses on the income tax provisions applicable to different industries and professions, updated in line with the Finance Act, 2025.

The book offers sector-wise analysis of assessment procedures, tax treatment of income and expenses, and common compliance issues faced by various trades and professions. It serves as a ready reckoner for applying trade-specific tax laws effectively in assessment and litigation.

Key highlights include:

• Sector-wise assessment coverage for manufacturing, trading, hospitality, real estate, transport, contractors, and professional services

• Discussion of presumptive taxation schemes and industry-specific exemptions

• Detailed treatment of allowable and disallowable expenses for each trade category

• Guidelines on documentation, record-keeping, and reporting for different sectors

• Analysis of common disallowances and adjustments made during scrutiny

• Practical tips for avoiding litigation and penalty exposure

• Incorporation of CBDT circulars, instructions, and relevant judicial decisions

• Ready-to-use assessment checklists for industry-specific cases

This edition is invaluable for:

• Chartered accountants and tax practitioners handling diverse clients

• Tax department officials assessing trade-specific returns

• Business owners seeking clarity on tax compliance in their sector

• Students and academicians in taxation and business law

By combining statutory provisions, procedural guidance, and practical insight, this book serves as an authoritative guide to sector-wise income tax assessment in India.