Description
Taxmann Students Guide to Income Tax and GST Problems and Solutions edition 2024 by Vinod K. Singhania and Monica Singhania
Taxmann's flagship publication for students on Income Tax & GST Laws offers a comprehensive approach to mastering Income-tax and GST through practical problem-solving. Recognizing the challenges students face, this book includes illustrations, solved problems, and a series of unsolved exercises. These unsolved exercises, shaped by readers' difficulties over time, are designed to provide a guided, step-by-step approach to understanding and solving tax-related problems.
This book is tailored for students preparing for various professional examinations, including:
CA Intermediate (Sept. 2024/Jan. 2025)
CS Executive (Dec. 2024)
CMA (Dec. 2024)
B.Com.
M.Com.
MBA
Other Professional Examinations
The Present Publication is the 29th Edition | 2024-25, authored by Dr Vinod K. Singhania & Dr Monica Singhania. It is thoroughly updated and amended up to 15th June 2024. The key features include:
The key features of the book are as follows:
[Illustrations and Solved Problems] Detailed solutions to contemporary tax problems, many of which are unique and have not appeared in examination papers or other publications
[Unsolved Exercises] Based on readers' queries over the years, these exercises challenge students to apply their knowledge and hone their problem-solving skills
[Guided Problem-Solving Approach] Structured guidance to help students understand the methodology behind solving tax-related problems
[Updated & Amended Contents]
Practical income-tax problems solved according to the law applicable for A.Y. 2024-25
GST problems resolved based on the latest amendments up to June 15, 2024
The structure of the book is as follows:
Section One – Provisions in Brief
Provides a concise overview of relevant income-tax laws and GST provisions
Serves as a quick reference guide to refresh and update students' knowledge
Section Two – Solved Problems
Presents detailed solutions to typical contemporary tax issues
Focuses on new problems that have not been seen in examination papers or other publications
It helps illustrate practical applications of the law, making it easier for students to understand complex concepts
Section Three – Solutions to Similar Unsolved Exercises
Offers solutions to problems similar to those found in the Students' Guide to Income-Tax
Encourages students to attempt unsolved exercises independently, using the provided solutions as a model to understand the correct approach
It aims to instill confidence in students by providing a working model of problem-solving
The contents of this 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'
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
Firms and association of persons
Return of income
Advance payment of tax
Tax deduction and collection at source
Interest payable
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
Appendix
Tax Rates