Direct Taxes Law & Practice including G.S.T.

63rd Edition of Direct Taxes Law & Practice Assessment Year 2022-23 Book

• Largest Selling Book since 1964 and over the last 58 years of its existence, the book has established a reputation for itself as the most definitive work on the subject of income tax.
• Even the last minute changes in the law have been incorporated in this revised edition of the book and as such it is the latest and most update book on Income Tax for the Assessment Year 2022-23. Further, the amendments made by the Finance Act, 2022, applicable for the Assessment Year 2022-23, have been incorporated in the book.
• The present edition of the book has several unparalleled features which make it distinct from other available text books on 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 58 years. The book is trusted and relied upon for accuracy and reliability. Mistakeless printing on paper of superior quality at moderate price.
• Questions from latest Examination Papers of various universities have been included in the revised edition of the book.
• At the end of each chapter, Short Answer, Objective Type and Short Numerical Questions have been added with answers.
• Chapters on G.S.T. have been incorporated in the book as per new syllabus.

Direct Taxes Law & Practice Assessment Year 2022-23 Syllabus For B.Com. (Hons.) Sem III of Binod Bihari Mahto Koyalanchal University Dhanbad

Unit I: Introduction—Basic Concept: Income, agricultural income, person, assessee, assessment year, previous year, gross total income, total income, the maximum marginal rate of tax; Permanent Account Number (PAN). Residential status: Scope of total income on the basis of residential status, Exempted income under section 10.

Unit II: Computation of income under different heads-1—Income from Salaries, Income from house property.

Unit III: Computation of income under different heads-2—Profits and gains of business or professions; Capital gains, Income from other sources.

Unit IV: Computation of Total Income and Tax Liability—Income of other people included in assessee’s total income; Aggregation of income and set-off and carry forward of losses; Deduction from gross total income; Rebates and reliefs;
Computation of total income of individuals and firms; Tax liability of an individual and a firm; GST-Format and Computing Process.

Unit V: Preparation of Return of Income-Filing of returns—Manually, On-Line filing of Returns of Income and TDS, Provision and Procedure of Compulsory On-Line filing of returns for specified assesses.

Direct Taxes Law & Practice Assessment Year 2022-23 Syllabus For B.Com. (Hons.) Sem III of Vinoba Bhave University Hazaribagh (VBU)

Unit I: Basic Concept: Income, agricultural income, person, assessee, assessment year, previous year, gross total income, the maximum marginal rate of tax. Permanent Account Number (PAN). Residential status, the scope of total income on the basis of residential status. Exempted income under section 10.

Unit II: Computation of income under different heads:— Salaries — Income from house property.

Unit III: Computation of income under different heads: — Profits and Gains of business or professions — Capital gains — Income from other sources.

Unit IV: Total Income and Tax Computation: — Income of other person included in assessee’s total income — Aggregation of income and set-off and carry forward of losses — Deduction from gross total income — Rebates and reliefs — Computation of total income of individuals : (a) Tax liability of an individual.

Direct Taxes Law & Practice Assessment Year 2022-23 Book Contents

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
13. Clubbing of Incomes and Aggregation of Incomes or Deemed Incomes 
14. Set-off and Carry Forward of Losses
15. Deductions to be made from Gross Total Income while Computing Total Income
16. Computation of Total Income of Individuals
17. Computation of Tax Liability of Individuals
18. Rebate and Relief of Tax
19. Assessment of Firms 
20. Preparation and Filing of Return of Income
21. Assessment Procedure (Including Faceless Assessment Scheme)
22. Alternate Tax Regime (Tax on Income of Individuals & HUFs)
23. Income Tax Authorities

Goods and Services Tax (G.S.T.)

1. Goods and Services Tax (G.S.T.)
2. Registration Process Under G.S.T
3. Taxation Mechanism Under G.S.T.