Students' Guide to Income Tax Including GST (Assesment Year 2022-23)

CA Intermediate May/November 2022
CS (Executive) June/December 2022
CMA June/December 2022
B.Com., M.Com., MBA, Other Professional Examinations
Assessment Year 2022-23
For Solutions to Unsolved Exercises Refer Students' Guide to Income Tax Including GST - Problems & Solutions
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Description
Income-tax is indeed a complex subject. It requires organized study constantly over a period of time to gain effective understanding and grasp of this subject unlike many other fields of study. In such backdrop, a text book on income-tax for B.com., BBA, CA (Inter), CS (Executive) and CMA (Inter) students must necessarily be written in a simple language, explaining the provisions of law step-by-step with the help of suitable illustrations, without resorting to paraphrasing sections and legal jargon. The present work conforms to the aforesaid criteria. Readers will find that each topic has been discussed with clarity, followed by point-wise recapitulation.
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Contents
Unit 1 : Income Tax
1.    Basic Concepts that one must know
2.    Residential Status and its Effect on Tax Incidence
3.    Income that is Exempt from Tax
4.    Income under the head " Salaries" and its Computation
5.    Income under the head " Income from House Property" and its Computation
6.    Income under the head " Profits and Gains of Business or Profession" an its Computation
7.    Income under the head " Capital Gains" and its computation
8.    Income under the head "Income from Other Sources" and its Computation
9.    Clubbing of Income
10.  Set off and carry forward of Losses
11.  Permissible Deductions form Gross Total Income
12.  Meaning of Agricultural income and its Tax Treatment
13.  Individuals - Computation of Taxable Income
14.  Hindu undivided Families - Computation of Taxable Income
15.  Firms & Associations of Persons - Computation of Taxable Income
16.  Return of Income
17.  Advance Payment of Tax
18.  Deduction and Collection of Tax at Source
19.  Interest Payable by Assessee/Government
Unit 2 :  GST
20.  Basic Concepts of GST
21.  Concept of Supply
22.  Levy of GST
23.  Exemptions from GST
24.  Place of Supply
25.  Time of Supply
26.  Value of Taxable Supply
27.  Reverse Charge Mechanism
28.  Input tax credit
29.  Composition Scheme and Alternative Composition Scheme
30.  Registration
31.  Tax Invoice, Credit and Debit Notes
32.  Returns, Tax Payment and Interest
33.  Provisions governing Real Estate Services
34.  Problems on GST
APPENDIX
Appendix I - Tax Rates
Appendix II - Questions set for CA (Intermediate) Examinations and Answers
Appendix III - Depreciation rates for Power Generating Units
Appendix IV - Answer to Unsolved Exercises
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Author's Details
Dr. Vinod K. Singhania got his Ph.D. from the Delhi School of Economics in 1976. His fields of special interest include all facets of corporate legislation and corporate economics especially the tax laws.Associated in different capacities with several professional institutes and business houses in India and abroad, Dr. Singhania is author of many popular books and software published by Taxmann. He has to his credit more than 300 research articles which have appeared in leading journals. He has been a resource person in over 600 seminars in India and abroad.
Dr. Monica Singhania is Reader, Faculty of Management Studies,University of Delhi. She is a post-graduate from Delhi School of Economics and a Fellow Member of the Institute of Chartered Accountants of India. She has the distinction of being placed in the merit list the Univesity examinations conducted by both the University as well as the Institute. She has been awarded Ph.D. in the area of corporate taxation from the University of Delhi. She is the author of 7 books on direct tax laws and several research papers which have been published in leading journals.
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