• 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.
• 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.
• 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 manner.
• Even the last minute changes in the law have been incorporated in the book and it is, therefore, the latest and most upto-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 Highlights of Amendments have also been given inthe beginning of the book of facilitate a quick glance to the readers about the latest.
• The book, at the end, contains CS-Exec. and CWA 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).
• The book is useful for the students appearing in CS-Exec.and other specialised studies.
Highlights of Amendments made by the Finance Act, 2015
Part A – Income Tax
Chapter 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 3A. Computation of Total Income and Tax Liability (Sections 14, 14A, 288A and 288B)
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 SOU (Chapter VIA)] Chapter 12. Agricultural Income & Its Tax Treatment [Sections 2(1 A) and 10(1)] Chapter 13. Assessment of Individuals
Chapter 14. Assessment of Hindu Undivided Family
Chapter 15. Assessment of Firms
Chapter 16. Assessment of Association of Persons
Chapter 17. Assessment of Co-operative Societies
Chapter 18. Assessment of Companies
Chapter 19. Taxation of Non-residents and Foreign Companies [Chapter XII and XIIA of the Income-tax Act] Chapter 20. Deduction and Collection of Tax at Source [Section 190 to 206A] Chapter 21. Advance Payment of Tax [Sections 207-211, 217&219] Chapter 22. Return of Income and Procedure of Assessment [Sections 139 to 154] Chapter 23. Liability in Special Cases [Chapter XV, Sections 159 to 179] Chapter 24. Collection and Recovery of Tax [Chapter XV, Sections 159 to 179] Chapter 25. Refund [Sections 237 to 241] Chapter 26. Appeals and Revision [Sections 246 to 264] Chapter 27. Settlement of cases [Sections 245A to 245L] Chapter 28. Penalties and Prosecutions
Chapter 29. Tax Planning and Tax Management
Part B – Wealth Tax
Chapter 30. Wealth Tax
Part C – International Taxation
Chapter 31. Basic concepts of International Taxation
Chapter 32. Double Taxation Relief [ Sections 90 to 91] Chapter 33. Transfer Pricing – Special Provisions Relating to Avoidance of Tax [Chapter X, Sections 92 to 92F, 93 & 94A] Chapter 34. Advance Pricing Agreements
Chapter 35. Advance Ruling
Part D – Service Tax, VAT and CST
Chapter 36. Service Tax – Concept and General Principles
Chapter 37. Charges of Service Tax
Chapter 38. Valuation of Taxable Services
Chapter 39. Payment of Service Tax
Chapter 40. Furnishing of returns of Service Tax
Chapter 41. Evaluation of VAT in India and its Justification
Chapter 42. Design and State Level VAT
Chapter 43. Principles, Variants and Methods of Computation of VAT
Chapter 44. General requirement for VAT System
Chapter 45. Central Sales Tax
Solved Question Paper for C.S. (Exec.) Exams
About The Author
Dr. Girish Ahuja did his graduation and post-graduation from Shri Ram College of Commerce and was a position holder. He got his Ph.D from Faculty of Management Studies, University of Delhi. He has been teaching Direct Taxes to students at various levels for more than 35 years. He is a Fellow of the Institute of Chartered Accountants of India (ICAI) and was placed in the merit list of both Intermediate and Final Examinations of the Institute. He is a senior faculty member of Shri Ram College of Commerce (Delhi University) and also visiting faculty member of the Institute of Chartered Accountants of India, Institute of Company Secretaries of India (ICSI) and various management institutes. He had been nominated by the Government to the Central Council of the Institute of Company Secretaries of India for two terms. He is a member of Fiscal Law Committee of ICAI and Editorial Board of ICSI. He is also on the Board of Directors of many companies and has a vast and rich experience in the field of finance and taxation.
Dr. Ravi Gupta did his graduation and post-graduation from Shri Ram College of Commerce. Thereafter, he did LL.B. 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.