Taxmann Students’ Guide to Income Tax Basic Personal Taxation B.Com. (Generic Elective GE-6) By Vinod K. Singhania, Monica Singhania Edition November 2022

Taxmann Income Tax Basic Personal Taxation B.Com. Generic Elective

Taxmann Income Tax Basic Personal Taxation B.Com. Generic Elective

This textbook on income tax has been written within the following parameters:

• Simplistic Language
• Concise Size
• Well-structured

Also, it explains the provisions of the Income-tax Act in a step-by-step manner. It provides numerous to-the-point illustrations without resorting to paraphrasing of sections and legal jargons. Lastly, the topics are discussed with precise clarity, followed by point-wise recapitulation.

This book is an authentic, up-to-date & amended textbook on Income Tax for students of B.Com. (Generic Elective | GE-6) et al.

The Present Publication is the Latest Edition, amended by the Finance Act 2022 & updated till 1st November 2022. This book is authored by Dr.Vinod K. Singhania & Dr. Monica Singhania, with the following noteworthy features:

• [Self-Learning/Practice Book] Features teach yourself technique enabling students to learn faster
• [Analytical Discussions] Each para starts with analytical discussions
• [Well-Thought-out-Original-Problems] A unique style of illustrating all complex provisions has been adopted throughout this book
• [E-Filing of Income-tax Return] Case studies have been prepared for students to generate E-Income-tax Return
• [Student-Oriented Book] This book has been developed keeping in mind the following factors:
• Interaction of the author/teacher with their students in the classroom
• Shaped by the author/teacher’s experience of teaching the subject matter at different levels
• Reactions and responses of students have also been incorporated at different places in the book
• [Zero-Error] Follows Six-Sigma Approach to achieve the benchmark of ‘Zero-Error’

The contents of the book are as follows:

• Basic concepts that one must know
• Residential status and its effect on tax incidence
• Income that is exempt from tax
• Income under the head ‘Salaries’ and its computation
• Income under the head ‘Income from house property’ and its computation
• Income under the head ‘Profits and gains of business or profession’ and its computation
• Income under the head ‘Capital gains’ and its computation
• Income under the head ‘Income from other sources’ and its computation
• Clubbing of income
• Set off and carry forward of losses
• Permissible deductions from gross total income
• Meaning of agriculture income and its tax treatment
• Individuals – Computation of taxable income
• Return of income
• Advance payment of tax
• Personal Tax Planning
• e-Filing of Income-tax Return

About the author

Dr. Vinod K. Singhania got his PhD from the Delhi School of Economics in 1976. His field of special interest includes all facets of corporate legislation and corporate economics, especially tax laws.

Associated in different capacities with several professional institutes and business houses in India and abroad, Dr. Singhania has authored many popular books and software published by Taxmann.

He has to his credit more than 300 research articles that have appeared in leading journals. He has been a resource person in over 800 seminars in India and abroad.

Dr. Monica Singhania is a Professor at Faculty of Management Studies, University of Delhi. She is a post-graduate from the Delhi School of Economics and a Fellow Member of the Institute of Chartered Accountants of India. She has the distinction of being placed on the merit list of the examinations conducted by both the university and the Institute.

She has been awarded a PhD in corporate taxation from the University of Delhi. She is the author of 7+ books on direct tax laws and several research papers published in leading journals.