Students’ Guide to Income Tax & GST | Problems & Solutions

The contents of this book are as follows:

• Income Tax
  • 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’
  • 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
  • Hindu undivided families
  • Firms and association of persons
  • Return of income
  • Advance payment of tax
  • Tax deduction and collection at source
  • Interest payable
• GST
  • Basic Concepts of GST
  • Concept of Supply
  • Levy of GST
  • Exemptions from GST
  • Place of Supply
  • Time of Supply
  • Value of Taxable Supply
  • Reverse Charge Mechanism
  • Input Tax Credit
  • Composition Scheme and Alternative Composition Scheme
  • Registration
  • Tax Invoice, Credit and Debit Notes
  • Returns
• Appendix
  • Tax Rates