Highlights of this Book
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. The topics are explained with the help of Tabular and Graphical Presentation, to make it simple for students, to understand the concept.
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. There are more than 500 Illustrations, Examples, Practical and Theoretical Questions which help students to understand the practical aspects.
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 topicwise 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 2018-2019. The amendments made by the Finance Act, 2017 have been incorporated at appropriate places in the book. The Highlights of Amendments made by the Finance Act, 2018 have also been given in the beginning of the book to facilitate a quick glance to the readers about the latest.
The book, at the end, contains CA-Inter /IPCC Question Papers for the last few years, with answers to practical questions (answers being given as per the law applicable for A.Y. 2018-2019).
The book is useful for the students appearing in CA-Inter /IPCC and other Specialised Studies. It will also be useful for graduate/post graduate students of various Universities and Management Institutes as well as the Departmental examinations of the Income-tax Department
PART I: INCOME TAX
- Scope of Total Income & Residential Status
- Incomes which do not form part of Total Income
- Computation of Total Income and Tax Liability
- Income under the Head “Salaries
- Income under the Head “Income from House Property”
- Income under the Head “Profits and Gains of Business or Profession
- Income under the Head “Capital Gains
- Income under the Head “Income from Other Sources
- Income of Other Persons Included in Assessee’s Total Income
- Set off or Carry Forward and Set off of Losses
- Deductions to be made in Computing Total Income
- Agricultural Income & Its Tax Treatment
- Assessment of Individuals
- Return of Income
- Deduction of Tax at Source
- Advance Payment of Tax
PART II: GST
- Basic Concepts of Indirect Taxes and Introduction of GST
- Supply under GST
- Levy and Collection
- Exemption from GST
- Taxability of Composite and Mixed Supply
- Location of the Supplier and Place of Supply of Goods and Services
- Composition Levy (Composition Scheme)
- Time of Supply
- Value of Supply
- Input Tax Credit and its Utilisation
- Tax invoice, Credit and Debit Notes
- Payment of Tax
About the Authors
Dr. GIRISH AHUJA did his graduation and post-graduation from Shri Ram College of Commerce, Delhi and was a position holder. He was awarded a Ph.D. degree by Faculty of Management Studies (FMS), Delhi University. 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 Accountant of India (ICAI) and was a rank holder of both Intermediate and Final examinations of the Institute. He was a senior faculty member of Shriram College of Commerce (Delhi University) and also has been visiting faculty member of the Institute of Chartered Accountants of India (ICAI), 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 Special Invitee to the Fiscal Law Committee of ICAI and Editorial Board of ICSI. He is also on the Board of Directors of many reputed companies and has a vast and rich experience in the field of Finance and Taxation. He has also been appointed by the Govt. of India to the Central Board of Director of State Bank of India.
Dr. Ahuja has addressed more than 4000 seminars organized by the ICAI, ICSI, ICWAI, Chambers of Commerce.
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. He has addressed more than 2000 seminars on Direct Taxes organized by ICAI, Chambers of Commerce, Universities, etc. He has been appointed by the Government of India as a member of the Committee constituted for Simplification of Income Tax Act. He is an independent director of many reputed companies. He has also been nominated Central council member of the Institute of Chartered Accountants of India by the govt. of India.