Students Guide To Income Tax Including GST

Author: Vinod K. Singhania and Monica Singhania

Year: 2022 | AY 2022-23

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