Systematic Approach to Income Tax: Service Tax & VAT

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A simplified, systematic approach to the understanding of a complex subject written in a unique, simple, easy to understand language that enables a quicker grasp for the student. Each topic, after a theoretical exposition, is followed by plenty of illustrations with solutions to facilitate the busy student to master the practical application of the law. Numerous problems and solutions have been given to enable the students to clearly grasp the intricate provisions. Each chapter contains theoretical and practical questions. A novel feature of the book is the section-wise study given in the beginning of each chapter to enable the students to make a systematic study of the law-User-friendly examination-oriented style that facilitates a quick glance to the readers. Even the last minute changes in the law have been incorporated in the book and it is, therefore, the latest and most up-to-date book for the Assessment Year 2012-2013. The amendments made by the Finance Act, 2011 have been incorporated at appropriate places in the book. The amendments made by the Finance Act, 2011 have also been given by way of Highlights of Amendments in the beginning of the book to facilitate a quick glance in the readers. The book, at the end, contains CA-PCC/IPCC/PE-II question papers for the last few years including the question papers of May, 2011 with answers to practical questions (answers being given as per the law applicable for A.Y. 2012-2013). The book is useful for the students appearing in CA-PCC/IPCC and other specialised studies. 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.

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Dr. Girish Ahuja did his graduation and post-graduation from Shri Ram College of Commerce and was a position holder. He got his Ph.D from Faculty of Management Studies, University of Delhi. He has been teaching Direct Taxes to students at various levels for more than 35 years. He is a Fellow of the Institute of Chartered Accountants of India (ICAI) and was placed in the merit list of both Intermediate and Final Examinations of the Institute. He is a senior faculty member of Shri Ram College of Commerce (Delhi University) and also visiting faculty member of the Institute of Chartered Accountants of India, Institute of Company Secretaries of India (ICSI) and various management institutes. He had been nominated by the Government of the Central Council of the Institute of Company Secretaries of India for two terms. He is a member of Fiscal Law Committee of ICAI and Editorial Board of ICSI. He is also on the Board of Directors of many companies and has a vast and rich experience in the field of finance and taxation. Dr. Ravi Gupta did his graduation and post-graduation from Shri Ram College of Commerce. Thereafter, he did L.L.B from Delhi University and MBA (Finance) from Faculty of Management Studies, Delhi. He has been awarded a Ph.D degree in International Finance by the Delhi University. He is faculty member at Shri Ram College of Commerce (Delhi University) and also has vast practical experience in handling tax matters of trade and industry. He has been a visiting faculty member at The Indian Tax Institute, The Institute of Company Secretaries of India, MFC (South Campus, Delhi University), MDI and various other Management Institutes. Table of  Contents Preface to the Twenty-seventh Edition Preface to the First Edition Highlights of amendments brought in by the Finance Act, 2011 Chapter 1: Introduction (Section 1 to 4) Chapter 2: Scope of Total Income & Residential Status (Section 5 to 9) Chapter 3: Incomes which do not form part of Total Income (Section 10, 10A, 10B, and 11 to 13A) Chapter 3A:  Computation of Total Income and Tax Liability (Section 14, 14A, 288A and 288B) Chapter 4: Income under the Head “Salaries” (Section 15 to 17) Chapter 5: Income under the Head “Income from House Property” (Section 22 to 27) Chapter 6: Income under the Head “Profits and Gains of Business or Profession” (Section 28 to 44D) Chapter 7: Income under the Head “Capital Gains”(Section 45 to 55A) Chapter 8: Income under the Head “Income from other Sources”  (Section 56 to 59) Chapter 9: Income of Other Persons Included in Assessee's Total Income (Clubbing of Income) (Section 60 to 65) Chapter 10: Set off or Carry Forward and Set off of Losses (Section 70 to 80) Chapter 11: Deductions to be made in Computing Total Income (Sections 80A to 80U (Chapter VIA)) Chapter 12: Agricultural Income & Its Tax Treatment (Section 2(1A) and 10(1)) Chapter 13: Assessment of Individuals Chapter 14: Assessment of Hindu Undivided Family Chapter 15: Return of Income (Section 139 to 140A) Chapter 16: Deduction and Collection of Tax at Source (Section 190 to 206CA) Chapter 17: Advance Payment of Tax (Sections 207-211, 217 & 219) Appendix 1: Rates of Taxation Appendix 2: Table of Rates at which depreciation is admissible Appendix 3: Table of Rates at which depreciation is admissible for power generation business Chapter 18: Service Tax-Concept and General Principles Chapter 19: Charge of Service Tax Chapter 20: Registration Chapter 21: Valuation of Taxable Services Chapter 22: Payment of Service Tax Chapter 23: Furnishing of returns of Service Tax AnnexureRelevant Taxable Services (for IPCC only) Chapter 24: Evaluation of VAT in India and its Justification Chapter 25: Design of State Level VAT Chapter 26: Principles, Variants and Methods of Computation of VAT Chapter 27: General requirement for VAT System Questions Set for PCC Examinations with Solutions only to Practical Questions (May, 2010 to May, 2007) Questions Set for IPCC Examinations with Solutions only to Practical Questions (May, 2011 to November, 2009) Selected Questions from C.A. (PE-II) Examinations Question Paper for IPCC (November 2011 Examination) with Solutions only to Practical Questions