Summarised Approach to Taxation For May 2020 By Dr Girish Ahuja Dr Ravi Gupta

Contents 

I – Income Tax

Introduction

Scope of Total Income & Residential Status

Incomes which do not form part of Total Income

Income under the Head “Salaries

Income under the Head “Income from House Pro

Income under the Head “Profits and Gains of Business or Profession

Income under the Head “Capital Gains

Income under the Head “Income from Other Sources

Income of Other Persons Included in Assessee’s Total Income (Clubbing of Income)

Set off or Carry forward and Set off of Losses

Deductions to be made in Computing Total Income

Agricultural Income & its Tax Treatment

Assessment of Individuals

Return of Income and Procedure of Assessment

Deduction and Collection of Tax at Source

Advance Payment of Tax

Part II – Indirect Taxes

Basic Concepts of Indirect Taxes and Introduction of GST

Supply under GST

Levy and Collection

Exemption from GST

Taxability of Composite and Mixed Supply

Location of the Supplier and Place of Supply of Goods and Services

Composition Levy (Composition Scheme)

Time of Supply

Value of Supply

Input Tax Credit and its Utilisation

Tax Invoice, Credit and Debit Notes

Registration

Payment of Tax

Returns

Anti-Profiteering Measure

Questions set for CA Inter Examinations