Taxmann's Students' Guide to Income Tax Including GST A.Y. 2022-23

Taxmann's flagship publication for Students on Income Tax & GST Law(s) has been designed to bridge the gap between theory and application. This book is written in simple language, explaining the provision of the law in a step-by-step manner – with the help of suitable illustrations, without resorting to paraphrasing of sections and legal jargons.



This book is an authentic, up to date & amended textbook on Income Tax & GST for students of CA Intermediate (May/Nov. 22), CS Executive (June/Dec. 22), CMA (June/Dec. 22), B.Com., M.Com., MBA, and other Professional Examinations.



The Present Publication is the 66th Edition, updated till 10th November 2021, authored by Dr Vinod K. Singhania & Dr Monica Singhania, with the following noteworthy features:


• [Coverage] of this book includes:


o Unit 1 – Income Taxes


o Unit 2 – GST


• [500+ Solved Problems] and an equal number of unsolved exercises


• [Question set for CA (Inter/IPCC) Examination] for the last five years is given along with solutions for theory as well as practical questions


o Answers to Income Tax problems are solved as per the law applicable for A.Y. 2022-23


o GST problems are solved in accordance with law as amended up to 10th November 2021


• [Features] of this book is as follows:


o [Self-Learning/Practice Book] Features teach yourself technique enabling students to learn faster


o [Analytical Discussions] are included in each para supported by 'well-thought-out-original-problems'. A unique style of illustrating all complex provisions has been adopted throughout this book


o [Every solved problem is followed by an unsolved exercise] for which answers are given at the end of the book


o Follows Six-Sigma Approach to achieve the benchmark of 'Zero-Error'


•Also Available:


o For Solutions to the unsolved exercises, students may refer to '[24th Edition] Taxmann's Students' Guide to Income Tax including GST Problems & Solutions'


o [3rd Edition] Taxmann's CRACKER for Taxation with application-based MCQs & Integrated Case Studies


o COMBO for Textbook & Problems & Solutions


o COMBO for Textbook, Problems & Solutions, and CRACKER



The contents of the book are as follows:


• Income Tax


o Basic concepts that one must know


o Residential status and its effect on tax incidence


o Income that is exempt from tax


o Income under the head 'Salaries' and its computation


o Income under the head' Income from house property' and its computation


o Income under the head' Profits and gains of business or profession' and its computation


o Income under the head' Capital gains' and its computation


o Income under the head' Income from other sources' and its computation


o Clubbing of income


o Set-off and carry forward of losses


o Permissible deductions from gross total income


o Meaning of agriculture income and its tax treatment


o Individuals – Computation of taxable income


o Hindu undivided families – Computation of taxable income


o Firms and association of persons – Computation of taxable income


o Return of income


o Advance payment of tax


o Deduction and collection of tax at source


o Interest payable by assessee/Government


• GST


o Basic concepts of GST


o Concept of Supply


o Levy of GST


o Exemptions from GST


o Place of supply


o Time of supply


o Value of taxable supply


o Reverse charge mechanism


o Input tax credit


o Composition Scheme and Alternative Composition Scheme


o Registration


o Tax invoice, credit and debit notes


o Returns, tax payment and interest


o Provisions governing Real Estate Services


o Problems on GST


• Appendix


o Tax Rates


o Question set for CA (Intermediate) Examinations and Answers


o Depreciation rates for power generating units


o Answers to unsolved exercises