Practical Approach to Direct & Indirect Taxes (Income Tax and GST) contains Problems & Solutions with MCQs, True & False questions & Fill in the Blanks. It is useful for CA inter IPC, CS executive & CMA Inter, CFA, MBA & Graduate / Post Graduate Students & Income Tax Departmental Exam.

Highlights of the Book

• The aim of the book is to help and enable the readers in understanding the intricate problems relating to Income Tax and GST.
• Even the last minute changes in the law have been incorporated in the book and it is, therefore, the latest and most upto date book for the Assessment Year 2023-2024. The amendments made by the Finance Act, 2022 have been incorporated at appropriate places in the book.
• A unique feature is that each Chapter contains summarised provisions in the beginning, to give a bird s eye view of the subject and to quickly recapitulate the important points.
• A novel feature of this book is that it contains 1200+ Multiple Choice Questions, 300+ True or False Questions, 200+ Fill in the Blanks and 500+ Problems & Solutions, which will help students to recapitulate the concepts of direct and indirect taxes.
• The Practical Problems include selected questions from the examinations of various Universities and Professional Institutes.
• The book is useful for the students appearing in CA Inter-IPC, CS Exec., CMA Inter and CFA examinations. It will also be useful for graduate/ post graduate students of various Universities and Management Institutes as well as the Departmental examinations of the Income-Tax Department.

Contents:

Part 1: Income Tax

1. Introduction
2. Scope of Total Income & Residential Status
3. Incomes which do not form part of Total Income
4. Income Under the Head "Salaries"
5. Income Under the Head "Income from House Property"
6. Income Under the Head "Profits and Gains of Business or Profession"
7. Income Under the Head "Capital Gains"
8. Income Under the Head "Income from Other Sources"
9. Income of Other Persons Included in Assessee's Total Income (Clubbing of Income)
10. Set Off or Carry forward and Set off of Losses
11. Deduction to be Made in Computing Total Income
12. Agricultural Income and its Tax Treatment
13. Assessment of Individuals
14. Assessment of Hindu Undivided Family
15. Assessment of Firms
16. Assessment of Association of Persons
17. Assessment of Companies
18. Assessment of Co-operative Societies
19. Return of Income and Procedure of Assessment
20. Deduction and Collection of Tax at Source
21. Advance Payment of Tax
22. Inerest Payable by/to Assessee
23. Refunds
24. Penalties and Prosecutions
25. Appeals, Revision & References
26. Income Tax Authorities
    

1. Basic Concepts of Indirect Taxes and Introduction of GST
2. Supply under GST
3. Levy and Collection
4. Exemption from GST
5. Taxability of Composite and Mixed Supply
6. Location of the Supplier and Place of Supply of Goods and Services
7. Composition Levy (Composition Scheme)
8. Time of Supply
9. Value of Supply
10. Input Tax Credit and Its Utilisation
11. Tax Invoice, Credit and Debit Notes
12. Registration
13. Payment of Tax
14. Returns
15. Accounts and Records under GST
16. Assessment and Audit
    
17. Anti-Profiteering Measure