Students Guide to Income Tax including GST Book for CA/CMA Inter, CS Executive, B.Com, M.Com & MBA by Dr Vinod K Singhania, Dr Monica Singhania.

Students' Guide to Income Tax & GST remains the benchmark reference for understanding—direct taxation under the Income-tax Act and indirect taxation under the Goods and Services Tax (GST) regime. Meticulously revised to reflect every Finance Act amendment, circular, notification and judicial pronouncement, this Edition preserves the text's hallmark clarity while incorporating a paired illustration–exercise pedagogy that enables readers to progress from statutory comprehension to confident computational proficiency.

This book is intended for the following audience:

• Professional Programme Candidates – CA (Inter/IPCC), CS (Executive), CMA (Intermediate), CFA (India); Aligns precisely with ICAI, ICSI and ICMAI syllabi; includes fully solved past-exam questions (2019-2024)
• Undergraduate & Postgraduate Scholars – B.Com., BBA, BMS, M.Com., MBA, LL.B; Converts dense legislation into step-wise reasoning, fostering conceptual clarity and application skills
• Academicians & Trainers – Offers ready-to-teach modules with numbered paragraphs, classroom-tested illustrations and recapitulations
• Civil-service & Regulatory-body Aspirants – Provides an authoritative yet accessible treatment of taxation, a core component of many competitive examinations
• Finance Executives & Self-learners – Functions as a 'desk-ready' manual for day-to-day compliance, return preparation and strategic tax planning

The Present Publication is the 73^rd Edition | 2025-26, amended upto 15^th May 2025. This book is authored by Dr Vinod K. Singhania & Dr Monica Singhania, with the following noteworthy features:

• [Bifurcated Architecture] Mirrors academic syllabi and professional-exam blueprint
  • Unit 1 – Income-tax | 19 Chapters
  • Unit 2 – GST | 15 Chapters
• [Pedagogical Precision] 500+ original solved illustrations immediately juxtaposed with 500+ unsolved exercises
• [Professional-exam Integration] CA (Inter/IPCC) question (May 2019 – Nov 2024) solved as per A.Y. 2025-26 provisions; GST problems answered under the law effective 15^th May 2025
• [Flag System] Paras and problems critical for CA/CS/CMA are specially flagged yet remain valuable to high-achieving university learners
• [Teach-yourself Methodology] Numbered micro-lessons, step-wise computations, margin call-outs and end-of-chapter Point-wise Recap enable self-study
• [Jurisdictional Currency] Incorporates the latest Finance Act, recent CBDT/CBIC circulars, advance rulings and key Supreme Court/High Court decisions
• [Examination Speed-tools] Tax rate tables, depreciation schedules and consolidated deduction charts for rapid recall under timed conditions
• [Additional Help for Unsolved Exercises] The companion publication 'Students' Guide to Income-Tax – Problems & Solutions' offers a more extensive range of solved questions, including contemporary issues
• [Authorial Authority] The authors combine academic rigour with deep industry engagement, ensuring a treatment that is technically impeccable yet pedagogically intuitive
• [Adoption Endorsement] Recommended by leading Central & State universities and accounting/management institutes across India

The coverage of the book is as follows:

• Income Tax
  • Fundamental Concepts (Assessment Year, Previous Year, Residential Status)
  • Comprehensive treatment of the five Heads of Income
    • Salaries
    • House Property
    • Business/Profession
    • Capital Gains
    • Other Sources
  • Deductions, Exemptions, Clubbing Provisions, Set-off & Carry Forward of Losses
  • Detailed discussion on filing of returns, TDS, TCS, assessment procedures, and appeals
• GST
  • Basic Concepts of Indirect Tax, Framework, and Key Definitions
  • Taxable Events, Classification of Supply, Place & Time of Supply, and Valuation Methods
  • Registration Requirements, Invoicing, Returns, and Payment of Tax
  • Input Tax Credit Mechanism, Reverse Charge, Composition Schemes, and Real Estate-specific provisions

The structure of the book is as follows:

• Logical Chapter Progression – Begins with fundamental income-tax concepts, moving sequentially toward advanced topics like computation of income for various entities, assessments, and penalty provisions
• Two-unit Bifurcation
  • Unit 1 (Income Tax) meticulously explores each head of income, relevant deductions, and compliance procedures
  • Unit 2 (GST) offers clarity on essential GST concepts such as supply, registration, and returns, culminating in problem-solving examples
• Chapter-end Exercises and Appendices – Each chapter concludes with short answers and practical questions that reinforce learning. Final appendices provide quick references (e.g., tax rates, depreciation rates, and answers to unsolved exercises)