Description
Taxmann Students Guide to Income Tax Including GST
Taxmann’s flagship publication for Students on Income Tax & GST Law(s) has been designed to bridge the gap between theory and application. This book is written in simple language, explaining the provision of the law in a step-by-step manner – with the help of suitable illustrations, without resorting to paraphrasing of sections and legal jargons.
This book is an authentic, up to date & amended textbook on Income Tax & GST for students of CA Intermediate (May/Nov. 22), CS Executive (June/Dec. 22), CMA (June/Dec. 22), B.Com., M.Com., MBA, and other Professional Examinations.
The Present Publication is the 66th Edition, updated till 10th November 2021, authored by Dr Vinod K. Singhania & Dr Monica Singhania, with the following noteworthy features:
[Coverage] of this book includes:
Unit 1 – Income Taxes
Unit 2 – GST
[500+ Solved Problems] and an equal number of unsolved exercises
[Question set for CA (Inter/IPCC) Examination] for the last five years is given along with solutions for theory as well as practical questions
Answers to Income Tax problems are solved as per the law applicable for A.Y. 2022-23
GST problems are solved in accordance with law as amended up to 10th November 2021
[Features] of this book is as follows:
[Self-Learning/Practice Book] Features teach yourself technique enabling students to learn faster
[Analytical Discussions] are included in each para supported by ‘well-thought-out-original-problems’. A unique style of illustrating all complex provisions has been adopted throughout this book
[Every solved problem is followed by an unsolved exercise] for which answers are given at the end of the book
Follows Six-Sigma Approach to achieve the benchmark of ‘Zero-Error’
Also Available:
For Solutions to the unsolved exercises, students may refer to ‘[24th Edition] Taxmann’s Students’ Guide to Income Tax including GST Problems & Solutions’
[3rd Edition] Taxmann’s CRACKER for Taxation with application-based MCQs & Integrated Case Studies
COMBO for Textbook & Problems & Solutions
COMBO for Textbook, Problems & Solutions, and CRACKER
The contents of the book are as follows:
Income Tax
Basic concepts that one must know
Residential status and its effect on tax incidence
Income that is exempt from tax
Income under the head ‘Salaries’ and its computation
Income under the head’ Income from house property’ and its computation
Income under the head’ Profits and gains of business or profession’ and its computation
Income under the head’ Capital gains’ and its computation
Income under the head’ Income from other sources’ and its computation
Clubbing of income
Set-off and carry forward of losses
Permissible deductions from gross total income
Meaning of agriculture income and its tax treatment
Individuals – Computation of taxable income
Hindu undivided families – Computation of taxable income
Firms and association of persons – Computation of taxable income
Return of income
Advance payment of tax
Deduction and collection of tax at source
Interest payable by assessee/Government
GST
Basic concepts of GST
Concept of Supply
Levy of GST
Exemptions from GST
Place of supply
Time of supply
Value of taxable supply
Reverse charge mechanism
Input tax credit
Composition Scheme and Alternative Composition Scheme
Registration
Tax invoice, credit and debit notes
Returns, tax payment and interest
Provisions governing Real Estate Services
Problems on GST
Appendix
Tax Rates
Question set for CA (Intermediate) Examinations and Answers
Depreciation rates for power generating units
Answers to unsolved exercises