Definitions of tax bases and income clarify taxable scope, taxpayer roles, and transfer and transfer-pricing concepts.

The chapter supplies a comprehensive definitional framework for the Direct Taxes Code Bill, 2009, specifying what constitutes income and tax bases, categorising types of income, and defining key persons, offices and entities (assessee, resident/non-resident, Assessing Officer, Transfer Pricing Officer). It classifies assets and transfers (business asset, investment asset, transfer, slump sale, demerger, amalgamation), sets operational terms for assessment and compliance (advance-tax, deduction at source, assessment, reassessment, non-filer), and frames cross-border concepts including permanent establishment, arm's length price and safe harbour.

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