Largest Selling Book since 1964 and over the last 59 years of its existence, the book has established a reputation for itself as the most definitive work on the subject of income tax. Even the last-minute changes in the law have been incorporated in this revised edition of the book and as such it is the latest and most updated book on Income Tax for the Assessment Year 2023-24. Further, the amendments made by the Finance Act, 2022, and the Finance Act, 2023, applicable for the Assessment Year 2023-24, have been incorporated in the book. The present edition of the book has several unparalleled features that make it distinct from other available textbooks on Income Tax. A simplified, systematic approach to the understanding of a complex subject written in a unique, simple, and easy-to-understand language. Each topic, after a theoretical exposition, is followed by illustrations to facilitate the students to master the practical application of Income Tax Law. User-friendly examination-oriented style facilitating easy comprehension of each topic. Solved Illustrations and Questions for exercise are the largest in number in comparison to other books on income tax. Unsurpassed for over 59 years. The book is trusted and relied upon for accuracy and reliability. Mistakeless printing on paper of superior quality at a moderate price. At the end of each chapter, Short Answer, Objective Type and Short Numerical Questions have been added with answers.