Taxation - Module 1 - Income Tax (CA Inter, New Syllabus 2023, for May 2024 and November 2024 Examinations)

..................................................................................................................................................................................
Description
Module 1 : Income Tax
With Multiple Choice Questions (MCQs)
Assessment year (2024 - 2025)
Key Features
➤ Practical Examples to enhance the practical applicability of the concepts discussed
➤ More than 1,400 MCQs for Self-Assessment covering all chapters
➤ Case Study Based MCQs: In line with the latest trends in examinations
➤ Chapter-wise Section Lists to allows readers to quickly locate the reference of specific sections
➤ Chapter Summaries serves as a valuable tool for readers, aiding in the revision process by offering a quick recap of key concepts and principles covered in the chapter
. Legislative Updates : All amendments introduced in the Finance Act 2023, latest circulars and notifications upto October 31, 2023 have been incorporated, providing a comprehensive understanding of the altered tax laws
. Practical Examples : To enhance the practical applicability of the concepts discussed, numerous practical examples have been strategically solved at relevant places. This approach aims to facilitate a deeper understanding of the intricacies of income tax provisions
. MCQs for Self-Assessment : Recognizing the evolving examination pattern CA/CS/CMA and other professional bodies, this edition places a significant emphasis on Multiple Choice Questions (MCQS). More than 1,400 MCQs have been thoughtfully integrated throughout the book, covering all chapters Answers to these MCQs are provided, allowing students to assess their understanding and preparation
. Case Study Based MCQs : In line with the latest trends in examinations, we have incorporated Case Study based MCQs. These real world scenarios challenge readers to apply their knowledge to practical situations, preparing them comprehensively for the complexities of examinations and professional practice
. Chapter-wise Section Lists : To enhance accessibility, a comprehensive list of all sections relevant to each chapter is provided at the beginning of the chapter. This feature allows readers to quickly locate and reference specific sections, streamlining the learning process.
. Chapter Summaries : At the conclusion of each chapter, a concise summary is provided. This feature serves as a valuable tool for readers, aiding in the revision process by offering a quick recap of key
..................................................................................................................................................................................
Contents
1. Introduction, basic concepts and definitions under Income tax act, 1961
2. Residential status & tax incidence
3. Concept & calculation of income tax
4. Concept of calculation of surcharge on income tax
5. Agricultural income & its tax treatment
6. Income under the head "salary"
7. Income under head house property
8. Depreciation: section 32. And rule 5
9. Income under the head 'profits and gains from business and profession' (PGBP)
10. Income under the head capital gains
11. Dividend and deemed dividend
12. Tax treatment of gifts received
13. Income under the head other sources
14. Clubbing of incomes
15. Set off of losses and carry forward of losses
16. Deductions from gross total Income (Chapter VI-a of Income tax act, 1961)
17. New tax regime relating to taxation of income
18. Alternate minimum tax (sections 115JC to 115JF)
19. Incomes which are exempt from income tax
20. Procedure of filing of income tax returns
21.Tax deducted at source (TDS) Tax collected at source (TCS)
22. Advance payment of tax and interest payable by assessee
23. Taxation of virtual digital assets (VDAS)
24. Assessment of individuals
25. Case Study based MCQs
..................................................................................................................................................................................
Author Details
Jaspareet Singh Johar is Delhi based practicing CA, an author and faculty member for the subject of Taxation for students who are pursuing CA-Intermediate, CMA Intermediate or CS Executive. He has served as a former faculty member at Unacademy, Aldine Pvt. Ltd., Educomp Tele Education Network (ETEN), Bajaj Capital Ltd and Institute of Chartered Accountants of India (ICAI). His constant focus on instructional rigor and pioneering educational practices have found him place in the top echelons of higher learning. A stellar record of 134 All India Rank holders in CA/CMA/CS exams under his academic capacity speaks for his trove of knowledge and training.
CAREER
He started his career as a tax consultant and during few interactions he realized the lack of quality training and in-depth instruction in the field of preparation for accounting and taxation exams. This initiated the germination of the idea of providing effective training and scholastic framework for aspiring Chartered Accountants and commerce students. The beginning of academic career was challenged by dearth of quality study material. Johar was quick to identify the causes of fear in his students. The complex and vague presentation of topics like taxation in available study material made students dread the subject. The fear prevented students to have much needed insight to implement the core of fundamental practices like "Case Laws" and "Sections".