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DECLARATION

I hereby declare that the project work entitled Heads of income are mutually
exclusive submitted to the Damodaram Sanjivayya National Law University, Visakhapatnam
is a record of an original work done by me and my own effort and that no part has been
plagiarized without citations. Under the guidance of Mr. R.V. Vishnu Kumar and this project
work has not performed the basis for the award of any Degree or diploma associate
ship/fellowship and similar project.

Yeshwanthi Reddy
Roll code- 2012119

Certificate

The project entitled Heads of income are mutually exclusive submitted to the
Damodaram Sanjivayya National Law University, Vizag for Taxation Law-I as part of
internal assessment is my original work carried out under the guidance of Mr. R.V Vishnu
Kumar. The research work has not been submitted elsewhere for award of any publication or
degree. The material borrowed from other sources and incorporated in the work has been duly
acknowledged.

Mr. R.V. Vishnu Kumar

ACKNOWLEDGEMENT
I would like to express my special appreciation and thanks to my advisor Professor
Mr. R.V Vishnu Kumar, you have been a tremendous mentor for me. I would like to thank
you for encouraging my research, advice for the research has been priceless. I have taken

efforts in this project. However, it would not have been possible without the kind support and
help of many individuals. I would like to extend my sincere thanks to all of them.
My thanks and appreciations also go to my faculty in developing the project and people
who have willingly helped me out with their abilities.
Yeshwanthi Reddy
Roll code- 2012119

Objective:
The project gives an analysis on the whether heads of income are mutually exclusive and
the description of each had of income properly. The scope of this project is limited to the
distinction between about all the heads of income in the various areas and it also focus on the
scope of total income.
Research Questions:
1

Weather the heads of income are mutually exclusive?

Weather the deductions given under this head are reasonable?

Scope of research:
The Project mainly focuses on the question whether the heads of income are mutually
exclusive or not and the concept of total income.
Historical background:The Income Tax Act 1961, Income Tax Rules 1962, Notifications and Circulars issued by Central
Board of Direct Taxes (CBDT), Annual Finance Acts and Judicial pronouncements by Supreme Court and
High Courts.

Hypothesis:
The hypothesis all the deductions which are made in the total income are appropriate
and just.

Review literature:1

Income tax including service tax and vat, 49th edition, Dr.Vinod K.Singhania,
Dr.Monica Singhania-:-

Heads of income are mutually exclusive, concept and

review
2

Income tax including service tax and vat,20th edition, by Dr.G.R Hari
,T.N.Manoharan:- procedure of making the deductions in the total income on which
aspects, and its exceptions

Research Methology:
The project is totally a doctrinal research methodology i.e. material is taken from
sources like books journals and web sources. Many jurists theory were taken from library
sources and written in own words.