B.Com Students' Guide to Income Tax | Basic Personal Taxation

This textbook on income tax has been written within the following parameters:

• Simplistic Language
• Concise Size
• Well-structured

Also, it explains the provisions of the Income-tax Act in a step-by-step manner. It provides numerous to-the-point illustrations without resorting to paraphrasing of sections and legal jargons. Lastly, the topics are discussed with precise clarity, followed by point-wise recapitulation.

This book is an authentic, up-to-date & amended textbook on Income Tax for students of B.Com. (Generic Elective | GE-6) et al.

The Present Publication is the Latest Edition, amended by the Finance Act 2022 & updated till 1st November 2022. This book is authored by Dr.Vinod K. Singhania & Dr. Monica Singhania, with the following noteworthy features:

• [Self-Learning/Practice Book] Features teach yourself technique enabling students to learn faster
• [Analytical Discussions] Each para starts with analytical discussions
• [Well-Thought-out-Original-Problems] A unique style of illustrating all complex provisions has been adopted throughout this book
• [E-Filing of Income-tax Return] Case studies have been prepared for students to generate E-Income-tax Return
• [Student-Oriented Book] This book has been developed keeping in mind the following factors:
• Interaction of the author/teacher with their students in the classroom
• Shaped by the author/teacher's experience of teaching the subject matter at different levels
• Reactions and responses of students have also been incorporated at different places in the book
• [Zero-Error] Follows Six-Sigma Approach to achieve the benchmark of 'Zero-Error'

The contents of the book are as follows:

• 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' and its computation
• 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
• Return of income
• Advance payment of tax
• Personal Tax Planning
• e-Filing of Income-tax Return

About the Author

Vinod K. Singhania

Dr Vinod K. Singhania holds a PhD from the Delhi School of Economics (1976) and is widely regarded as one of India's foremost authorities on direct tax law and corporate legislation. Over a career spanning five decades, he has shaped how generations of tax professionals understand, interpret, and apply Indian income tax law, through authoritative annual publications, rigorous academic scholarship, and sustained engagement with the profession.

Dr Singhania is the author of numerous landmark titles published by Taxmann. His scholarly output includes over 300 research articles published in leading professional and academic journals. He has served as a resource person at more than 800 seminars across India and abroad, and has been associated with prominent professional institutes and business organisations in both domestic and international capacities.

The Direct Taxes Ready Reckoner is the most enduring expression of Dr Singhania's commitment to making complex tax law accessible, accurate, and immediately actionable, a commitment sustained without interruption since the book's first publication in May 1978.

Monica Singhania

Dr Monica Singhania is a Professor at the Faculty of Management Studies, University of Delhi. She holds a postgraduate degree from the Delhi School of Economics and is a Fellow Member of the Institute of Chartered Accountants of India. Dr Singhania has earned a place on the merit lists of examinations conducted by her university and the Institute of Chartered Accountants.

She holds a PhD in corporate taxation from the University of Delhi. Dr Singhania has authored seven books on direct tax laws and has published numerous research papers in leading academic journals.