Description
Taxmann Students Guide to Income Tax and GST edition 2024 by Vinod K. Singhania and Monica Singhania
Taxmann's flagship publication for students on Income Tax & GST Law(s) is designed to bridge the gap between theory and application. Written in simple language, it explains legal provisions step-by-step with suitable illustrations, avoiding paraphrasing and legal jargon.
This book is an authentic, up-to-date, and amended textbook on Income Tax & GST for students of CA Intermediate (Sept. 2024/Jan. 2025), CS Executive (Dec. 2024), CMA (Dec. 2024), B.Com., M.Com., MBA and other professional examinations.
The Present Publication is the 71st Edition | 2024-25 and amended upto 15th June 2024. This book is authored by Dr Vinod K. Singhania & Dr Monica Singhania, with the following noteworthy features:
[Comprehensive Coverage] of this book includes:
Unit 1 – Income Taxes
Unit 2 – GST
[Extensive Problem Sets] Over 500 solved problems with an equal number of unsolved exercises
[Past Exam Questions] Includes questions set for CA (Inter/IPCC) examinations over the last five years, with solutions for both theory and practical questions
Income Tax problems are solved as per the law applicable for A.Y. 2024-25
GST problems are solved according to the law as amended up to June 15, 2024
[Features] of this book are as follows:
[Student-Friendly Approach] The book adopts a 'teach yourself' technique, enhancing the learning process with a clear, step-by-step explanation of legal provisions
[Illustrative Problems] Each chapter includes analytical discussions supported by original problems, fostering a deeper understanding of complex provisions
[Practical Exercises] To build confidence in solving practical questions, solved problems are followed by unsolved exercises with answers provided in the appendix
For Solutions to the unsolved exercises, students may refer to the 29th Edition of Taxmann's Students' Guide to Income Tax including GST Problems & Solutions
[Professional Exam Focus] Sections marked with a ➠ symbol cater specifically to professional exam aspirants while also being beneficial for high-achieving university students
Follows the Six-Sigma Approach to achieve the benchmark of 'Zero-Error'
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