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............................................................................................................................. Description • Concise presentation of the provisions of the Income-Tax Law as amended by the Finance Act, 2011 relevant for CA Professional Competency Course (IPCC),Integrated Proffessional Competency Course (IPCC) and B.Com Examinations. • Broad overview of concepts and general principles relating to Advance Tax, TDS, VAT and Service Tax Laws with apt illustrations have been given for easy understanding for PCC and IPCC students. • Easy approach to learn the principles relating to computation of taxable income under each head of income together with suitable formats prescribed. Apt illustrations, case studies and exercises provided. Updated rules, important circulars and case law as reported upto October 2011 are cited. • In each chapter "Chapter Outline" is provided at the beginning and "Summary of Key points" is provided at the end so as to enable the students to comprehend and grasp the subjective in an effective manner. • Questions of past 20 examinations of the Institute of Chartered Accountants of India, suitably modified and answered on the basis of law applicable for the assessment year 2012-13, are included chapter wise. Problems on computation of total income and rebate from tax are solved exclusively under Chapter 16. • Answers to unsolved exercises are given at the end of each exercise. Recent amendments, though incorporated at appropriate places, are separately listed in Appendix I in order to enable effective revision by the students. • Appendix II gives the list of Supreme Court decisions referred to and discussed in this book to enable easy access for the students. ............................................................................................................................. Contents Syllabus for C.A. - PCC/IPCC Arrangement of Sections Appendix - I Recent Amendments - Assessment year 2011-12 Suggested Answers for C.A. IPCC November 2011 Examination Suggested Answers for C.A. PCC November 2011 Examination 1. Preliminary 2. Basis of Charges 3. Incomes which do not form part of Total Income 4. Computation of Total Income 4A. Salaries 5. Income from House Property 6. Profits and Gains of Business or Profession 7. Capital Gains 8. Income from Other Sources 8A. Heads of income at a Glance 9. Income of Other Persons, Included in Assessee’s Total Income 10. Aggregation of Income and Set Off or Carry Forward of Loss 11. Deduction to be made in Computing Total Income 12. Rebates and Relief 13. Filing of Return of Income 14. Tax Deducted at Source 15. Advance Tax 16. Revision – Problems on Computation of Total Income and Tax Liability 17. Basic Concepts & Principles 18. Input Tax Credit, Composition Scheme & Procedures 19. Service Tax Concepts and General Principles 20. Taxable Services 21. Point of Taxation 22. Registration, Records, Filing of Returns & Assessments 23. Valuation 24. Payment of Service Tax Appendix - II - Supreme Court Decisions ............................................................................................................................. Author Details T.N. Manoharan,a fellow member of the Institute of Chartered Accountants ofIndia(ICAI), is a post graduate in commerce and a law graduate fromMadrasUniversity. He is a rank holder in C.A. IntermediateExamination.Hewas a member of the Council of ICAI for 6 years since2001 and held the position as its President during 2006-07. He was avisiting faculty on the subject of Taxation at SIRC of ICAI. He wasalso avisiting faculty of few professional and management institutions.The author has presented papers in seminars and conferences organizedby various forums in the country and in international forums in abroad. Hehas authored various books such as "Real Estate Transactions -TaxImplications" an ICAI Publication, "Depreciation and Losses underI.T.and Company Law", a Bombay Chartered Accountants SocietyPublication and "Immovable Property Transaction and Income-taxImplications", an Andhra Pradesh Tax Bar Association Publication. He isalso a co-author of the book on "Settlement Commission and Authorityfor Advance Rulings". Mr. Manoharan was a member of theInternational Accounting Education Standards Board of theInternational Federation of Accountants. He was the Chairman of thecommittee on Education and center of Excellence of South AsianFederation of Accountants (SAFA). Mr. Manoharan has authored the text book titled "Direct-tax Laws" for C.A. Final and other professional courses. Mr. Manoharan was a member of the International Accounting Education Standards Board of the International Federation of Accountants. He was the Chairman of the Committee on Education and Center of Excellence of South Asian Federation of Accountants (SAFA). Mr. Manoharan is Awarded "Padma Shri" by the President of India. Mr. G.R. Hari is a Fellow Member of the Institute ofChartered Accountants of India (ICAI) and a Commerce graduate from theUniversity of Madras. He is a faculty in Loyola Institute of BusinessAdministration (LIBA), Chennai for their Post Graduate courses inBusiness Management Studies and corporate training programmes. Heis in practice of the Chartered Accountancy profession for the past 11years. He has presented papers in professional forums on technical subjects. .............................................................................................................................
