FEATURECONTAINING1. Income Tax2. Wealth Tax3. International TaxationUseful1. CMA Inter Students2. Other Specialised StudiesCONTENTPart A – Income TaxChapter 1 Introduction (Sections 1 to 4)Chapter 2 Scope of Total Income & Residential Status (Sections 5 to 9)Chapter 3 Incomes which do not form part of Total Income (Sections 10, 10A, 10B and 11 to 13A)Chapter 4 Income under the Head “Salaries” (Sections 15 to 17)Chapter 5 Income under the Head “Income from House Property:’ (Sections 22 to 27)Chapter 6 Income under the Head “Profits and Gains of Business or Profession” (Sections 28 to 44D)Chapter 7 Income under the Head “Capital Gains” (Sections 45 to 55A)Chapter 8 Income under the Head “Income from Other Sources” (Sections 56 to 59)Chapter 9 Income of Other Persons Included in Assessee’s Total Income (Clubbing of Income) (Sections 60 to 65)Chapter 10 Set off or Carry Forward and Set off of Losses (Sections 70 to 80)Chapter 11 Deductions to be made in Computing Total Income [Sections 80A to 80U (Chapter VIA)]Chapter 12 Agricultural Income & Its Tax Treatment [Sections 2(1A) and 10(1)]Chapter 13 Assessment of IndividualsChapter 14 Assessment of Hindu Undivided FamilyChapter 15 Assessment of FirmsChapter 16 Assessment of Association of PersonsChapter 17 Assessment of Co-operative SocietiesChapter 18 Assessment of CompaniesChapter 19 Taxation of Non-Residents [Chapter XII and XIIA of the Income-tax Act]Chapter 20 Deduction and Collection of Tax at Source [Sections 190 to 206CA]Chapter 21 Advance Payment of Tax [Sections 207-211 , 217 & 219]Chapter 22 Collection and Recovery of Tax [Sections 156, 220 to 232]Chapter 23 Refunds [Sections 237 to 241]Chapter 24 Tax Planning and Tax ManagementPart B – Wealth TaxChapter 25 Wealth TaxChapter 26 Basic concepts of International TaxationChapter 27 Transfer Pricing – Special Provisions Relating to Avoidance of Tax [Chapter X, Sections 92 to 92F, 93 & 94A]Part C – International TaxationChapter 28 Advance Pricing AgreementsQuestions Set for CMA (Inter) Examinations with Answers only to Practical Questions (Dec 2015 to June 2009)ABOUT THE BOOKΓ* A simplified, systematic approach to the understanding of a complex subject written in a unique, simple, easy to understand language that enables a quicker grasp for the student.Γ* Each topic, after a theoretical exposition, is followed by plenty of illustrations with solutions to facilitate the busy student to master the practical application of the law. Numerous problems and solutions have been given to enable the students to clearly grasp the intricate provisions. Each chapter contains theoretical and practical questions.Γ* A novel feature in the book is the section-wise study given in the beginning of each chapter to enable the students to make a systematic study of the law user- friendly examination-oriented style that facilitates the comprehension in both section wise and topic wise mannerΓ* Even the last minute changes in the law have been incorporated in the book and it is, therefore, the latest and most up to-date book for the Assessment Year 2016-2017. The amendments made by the finance Act, 2015 have been incorporated at appropriate places in the book. The Hiplipts of Amendments have also been given in the beginning ofthe book to facilitate a quick glance to the readers about the latest.Γ* The book, at the end, contains CMA Inter question papers with answers to practical questions, for the last few years (answers being given as per the law applicable for A.Y. 2016-2017).Γ* The book is useful for the students appearing in CMA Inter and other specialised studies.ABOUT THE AUTHORDr. GIRISH AHUJA did his graduation and post-graduation from Shri Ram College of ommerce, Delhi and was a position holder. He is a Fellow of the Institute of Chartered Accountants of India and was a rank holder both in the Intermediate and Final Examinations of the Institute. He was awarded a Ph.D. degree by Faculty of Management Studies (FMS), Delhi University. He is a visiting faculty member of the ICAI, ICSI, ICAI (Works) and various management institutes. He had been nominated for six years by the Government to the Central Council of the Institute of Company Secretaries of India. He was member of the Accounting Standard Board of Institute of Chartered Accountants of India for three years. He is a member of the Direct Tax Committee and Special Invitee to International Taxation Committee of ICAI and member of Editorial Advisory Board of Institute of Company Secretaries of India. He has a vast and rich experience in the field of finance and taxation. Dr. Ahuja has addressed more than 2000 seminars organized by the various branches of the Institute of Chartered Accountants of India. He is the co-author of over twenty books on Direct Taxes for students and many popular books for professionals, the main ones being Concise Commentary on Income Tax including Wealth Tax, Direct Taxes Ready Reckoner, Direct Taxes Law and Practice (Professional Edition), Guide to Deduction of Tax at Source, Taxation of Capital Gains, Guide to Depreciation, Taxation of Salaried Persons, Individuals’ HUFs, etc. His publications on Taxation (for CA Inter), Direct Taxation (for CMA Inter), Tax Laws & Practice (for CS Exec.) and Direct Taxes Law & Practice (for CA. CS, CMA final) are among the bestsellers for students pursuing these professional studies.Dr. RAVI GUPTA did his graduation and post-graduation from Shri Ram College of Commerce. Thereafter, he did LLB. from Delhi University and MBA (finance) from Faculty of Management Studies, Delhi. He has been awarded a Ph.D. degree in International finance by the Delhi University. He is a faculty member at Shri Ram College of Commerce (Delhi University) and also has vast practical experience in handling tax matters of trade and industry. He has been a visiting faculty member at The Indian Law Institute, The Institute of Company Secretaries of India, MFC (South Campus, Delhi University), MDI and various other Management Institutes.
Girish Ahuja, Ravi Gupta