Direct Tax System Income Tax

About Direct Tax System Income Tax Book

• Largest Selling Book since 1964 and over the last 55 years of its existence, Direct Tax System Income Tax Book has established a reputation for itself as the most definitive work on the subject of Income Tax
• A simplified, systematic approach to the understanding of a complex subject written in a unique, simple and easy to understand language.
• Each topic, after a theoretical exposition, is followed by illustrations to facilitate the students to master the practical application of Income Tax Law.
• User-friendly examination-oriented style facilitating easy comprehension of each topic.
• Solved Illustrations and Questions for exercise are largest in number in comparison to other books on income tax.
• Unsurpassed for over 55 years. The Direct Tax System Income Tax Book is trusted and relied upon for accuracy and reliability. Mistakeless printing on paper of superior quality at a moderate price.
• Questions from the latest Examination Papers of various universities have been included in the revised edition of the Direct Tax System Income Tax Book
• At the end of each chapter, Short Answer, Objective Type and Short Numerical Questions have been added with answers.

Direct Tax System Income Tax Syllabus For B.Com I Year

Unit-I: Tax System – Meaning, Tax, Features and Objects Direct Taxes in India – General introduction of Central, Provincial and Local Direct Taxes.

Unit-II: Characteristics and main features of Income Tax. Contribution of Income Tax in public revenue. Important definitions – Previous year – Assessment Year, Gross Total Income – Total Income, Person, Agricultural Income. Residential Status and Tax Liability. Exempted Income.

Unit-III: Computation of taxable income of salaried persons. Exempt items and taxable income computation in case of retirement.

Unit-IV: Computation of taxable income from house property. Calculation of taxable income from business or profession. Provisions relating to the calculation of income on the estimated basis of small traders, contractors, Transporters, and professionals.

Unit-V: Capital gains – Calculation of taxable capital gain/loss on short term and Long term capital assets. Exemptions for capital gains. Computation of Income from other Sources.

Direct Tax System Income Tax Book Content

Tax System

1. Tax System
2. General Introduction of Central, Provincial and Local Direct Taxes

Income Tax

• Salient Features of the Finance Act, 2019

1. Income Tax: Introduction and Important Definitions
2. Agricultural Income
3. Residence and Tax Liability (Basis of Charge)
4. Exemptions from Tax (Non-Taxable Income)
5. Income from Salaries
6. Income from Salaries (Retirement)
7. Income from House Property
8. Profits and Gains of Business or Profession
9. Determination of Income of Certain Business or Profession on Presumptive Basis
10. Depreciation and Investment Allowance
11. Capital Gains
12. Income from other Sources

• Examination Question Paper April 2019