Description
For over 40 years, Taxmann’s flagship publication on Direct Taxes has been the ‘go-to-guide’ for students and professional practitioners. This book is designed to help readers understand the law and develop the ability to apply it effectively. It aims to provide the following:
[Familiarity with Direct Tax Provisions] Understand the fundamental aspects of direct tax laws
[Awareness of Direct Tax Provisions] Understand the specific provisions and their implications
[Understanding the Nature and Scope] Comprehend the breadth and application of direct tax laws
[Up-to-date Knowledge] Stay updated about how various courts have interpreted statutory provisions over time
Written in clear and simple language, this book explains the provisions of the law in a step-by-step and concise manner, using suitable illustrations and avoiding legal jargon and paraphrasing sections.
This book will be helpful for students preparing for CA, CS, ICWA, M.Com., LL.B. and MBA examinations, as well as for those appearing in the income-tax departmental examination.
The Present Publication is the 71st Edition for A.Y. 2024-25 (amended up to 15th June 2024), authored by Dr Vinod K. Singhania & Dr Kapil Singhania. The noteworthy features of this book are as follows:
[Self-Learning/Practice Book] Designed with a learn-yourself technique, enabling students to grasp and apply the law more quickly
[Concise Treatment of Text] The content is organized in numbered paragraphs and sub-paragraphs, saving time and effort. Debatable issues are thoroughly discussed and resolved
[Well-Thought-Out Original Problems] Each paragraph begins with analytical discussions supported by over 600 original problems, illustrating complex provisions in a unique style. Tax planning hints are provided where applicable
[Up-to-date Content] Includes the latest circulars, notifications, amendments, and case laws up to 15th June 2024. Recent court rulings, circulars, and notifications are highlighted
[Past Exam Questions with Answers] Contains questions from CA Final exams (Nov. 2013 to Nov. 2023), post-graduate, and professional exams, along with solutions for both theory and practical questions, based on the law applicable for A.Y. 2024-25.
[Six-Sigma Approach] Adheres to the Six-Sigma methodology to achieve the benchmark of ‘Zero-Error’
The detailed coverage of this book includes:
Basic Concepts
Residential Status and Tax Incidence
Incomes Exempt from Tax
Salaries
Income from House Property
Profits and Gains of Business or Profession
Capital Gains
Income from Other Sources
Income of Other Persons included in Assessee’s Total Income
Set Off and Carry Forward of Losses
Deductions from Gross Total Income and Tax Liability
Agricultural Income
Typical Problems on the Assessment of Individuals
Tax Treatment of Hindu Undivided Families
Special Provisions Governing Assessment of Firms and Associations of Persons
Taxation of Companies
Assessment of Co-operative Societies
Assessment of Charitable and Other Trusts
Returns of Income and Assessment
Penalties and Prosecution
Advance Payment of Tax
Interest
Tax Deduction or Collection at Source
Refund of Excess Payments
Appeals and Revisions
Income-tax Authorities
Settlement Commission and Dispute Resolution Committee
Special Measures in Respect of Transactions with Persons Located in Notified Jurisdiction Area
General Anti-avoidance Rule
Advance Ruling
Search, Seizure and Assessment
Transfer Pricing
Business Restructuring
Alternative Tax Regime
Tax Planning
Miscellaneous
Annexures
Tax Rates
Rates of Depreciation
The Eleventh Schedule, Thirteenth Schedule, Fourteenth Schedule/Investment ceiling in the case of small-scale industrial undertaking
Notified backward districts
Question set for CA (Final) Examination and Answers from Nov. 2013 to Nov. 2023
