Income Tax Law & Accounts A.Y 2023-24

About the Income Tax Law & Accounts A.Y 2023-24 Book

• Largest Selling Book since 1964 and over the last 59 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 2023-24. Further, the amendments made by the Finance Act, 2022 and the Finance Act, 2023, applicable for the Assessment Year 2023-24, have been incorporated in the book.
• 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 59 years. The book is trusted and relied upon for accuracy and reliability. Mistakeless printing on paper of superior quality at moderate price.
• At the end of each chapter, Short Answer, Objective Type and Short Numerical Questions have been added with answers.
• BCM5 B09 Income Tax Law and AccountsSyllabus B.Com Vth Semester of University of Calicut

Module I: Basic Concepts : Income–Agricultural income–Person–Assessee–Assessment Year–Previous Year–Gross total income–Total income–Maximum marginal rate of tax–Residential status–Scope of total income on the basis of residential status–Exempted incomes.

Module II: Computation of Income under different Heads : Salaries–Allowances–Perquisites–Profit in lieu of salary–Gratuity–Pension.

Module III: Income from house property : Annual Value of House property–Computation under different circumstances–Deduction from annual value.

Module IV: Profits and Gains of Business or Profession : Definition–Computation–Allowable expenses and non allowable expenses–General deductions–Provisions relating to Depreciation.

Module V: Capital Gains : Definition of Capital Assets–Long-term and Short-term–Transfers–Cost of acquisition–Cost of improvement–Exempted Capital gains. Income from Other Sources: Definition–Computation.

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 a Presumptive Basis
10. Depreciation and Investment Allowance
11. Capital Gains
12. Income from other Sources

• Examination Question Paper November, 2022 with Solution