Taxmann's LLP Ready Reckoner – Amended & updated, comprehensive, and subject-wise practical guide to the LLP regime in India providing answers to practical issues [June | 2024] PDF Download

Author: V.S Datey
Publisher: Taxmann Publications Private Limited
ISBN: 9357787399
Category : Law
Languages : en
Pages : 28

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Book Description
This book is a subject-wise practical guide to the following laws: • Limited Liability Partnership Act, 2008 [LLP Act] (as amended by the Limited Liability Partnership (Amendment) Act, 2021) • Limited Liability Partnership Rules, 2009 [LLP Rules] It offers a comprehensive analysis of all provisions of the LLP Act and the associated Rules, addressing practical issues faced by professionals. The Present Publication is the June 2024 Edition and has been amended up to 15th June 2024. This book is authored by Mr V.S. Datey, with the following coverage: • Overview of the LLP Act • Incorporation of LLP • Partner and Designated Partner • LLP Agreement • Accounts, Audit and Annual Returns of LLP • Routine Management of LLP • Administrative Control over LLP • Compromise and Arrangement • Winding-Up and Strike off Defunct LLP • Investigation of Affairs of LLP • Offences, Punishments and Penalties • Other Provisions in respect of LLP • Taxation of LLP • Foreign Direct Investment in LLP • Overseas Investment by LLP

Author: V.S.Datey
Publisher: Taxmann Publications Private Limited
ISBN:
Category : Law
Languages : en
Pages : 27

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Book Description
Taxmann's LLP Ready Reckoner is a subject-wise practical guide to the following laws: • Limited Liability Partnership Act, 2008 (as amended by the Limited Liability Partnership (Amendment) Act, 2021) • Limited Liability Partnership Rules, 2009 It comprehensively covers the analysis of all provisions of the LLP Act & the Rules prescribed thereunder and provides answers for all practical issues faced by professionals. The Present Publication is the Latest Edition, authored by V.S. Datey, amended by the Limited Liability Partnership (Amendment) Act 2021 & updated till 13th August 2021. The detailed coverage of the book is as follows: • Overview of the LLP Act • Incorporation of LLP • Partner and Designated Partner • LLP Agreement • Accounts, Audit and Annual Returns of LLP • Routine Management of LLP • Administrative Control over LLP • Compromise and Arrangement • Winding Up of LLP • Investigation of Affairs of LLP • Offences, Punishments and Penalties • Other Provisions in respect of LLP • Taxation of LLP • Foreign Direct Investment in LLP

Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9357785620
Category : Law
Languages : en
Pages : 19

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Book Description
This book is an authoritative compendium featuring India's Limited Liability Partnership Laws' amended, updated, and annotated text. It is organised into four sections: • Limited Liability Partnership Act, 2008 • Limited Liability Partnership Rules • Circulars & Notifications • Foreign Direct Investment in Limited Liability Partnerships This essential resource caters to legal professionals, scholars, and anyone interested in the intricacies of the Limited Liability Partnership Act and its influence on corporate structures in India. The Present Publication is the 13th Edition & amended up to 15th June 2024, edited by Taxmann's Editorial Board, with the following noteworthy features: • [Short Commentary] on the Limited Liability Partnership Act, 2008 • Integrated LLP Rules, Circulars & Notifications, FDI Policy, FEMA Rules o Limited Liability Partnership Rules, 2009, as amended to date o Limited Liability Partnership (Winding up and Dissolution) Rules, 2012 o Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 o Text of LLP Circulars & Notifications o FDI Policy related to LLPs o Rules & Schedule of FEMA (Non-Debt Instruments) Rules, 2019 • [Taxmann's series of Bestseller Books] on LLP Laws • [Follows the Six-Sigma Approach] to achieve the benchmark of 'zero error'

Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9357786066
Category : Law
Languages : en
Pages : 34

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Book Description
This comprehensive guide offers detailed and accurate information on all provisions of the Companies Act 2013. It features a topic-wise commentary on each provision, providing valuable insights and practical guidance for companies and corporate professionals. This book addresses various practical issues faced by corporate entities and professionals. The Present Publication is the 15th Edition | July 2024 & updated till 10th June 2024. This book is authored by Taxmann's Editorial Board with the following noteworthy features: • [Topic-wise Commentary] The book covers over 40 key topics related to the Companies Act 2013, ensuring a detailed understanding of each provision • [Comprehensive Analysis] It includes a thorough analysis of all provisions of the Companies Act, supplemented with relevant Rules, Judicial Pronouncements, Circulars, and Notifications • [Practical Guidance] The book addresses practical issues faced by companies and corporate professionals, making it an indispensable resource for day-to-day corporate governance and compliance The contents of the book are as follows • Introduction o This chapter lays the foundation with an overview of the company form of business organisation, the administration of the Companies Act, the concept of a company as a separate legal entity, and various types of companies that can be formed. It also explores fundamental principles like limited liability and the lifting of the corporate veil • Incorporation of a Company o The process of forming a company is detailed here, including the initial stages, naming conventions, signing of the memorandum and articles, necessary documentation, and obtaining the certificate of incorporation • Memorandum of Association o This chapter discusses the memorandum as the constitution of the company, detailing its clauses, the procedure for alterations, and the doctrine of ultra vires • Articles of Association o It provides insights into the internal management rules, the binding nature of articles, and the procedure for altering articles • Capital of the Company o An exploration of company funds, including equity and preference shares, highlighting the distinction between 'own funds' and 'loan funds' • Issue of Securities o Various modes of raising capital are discussed, such as issuing shares at a premium, private placement, and the procedures for issuing and allotting securities • Further Issue of Securities o This chapter elaborates on rights issues, preferential allotment, bonus shares, sweat equity shares, and employee stock options • Reduction of Capital and Buy-back of Securities o Processes for reducing capital and buying back securities are detailed, including procedural aspects and legal requirements • Public Issue of Securities o It covers the background, stock exchange requirements, prospectus details, and penalties for violations related to public issues • Membership of Company o The chapter defines the rights and obligations of members, shareholding variations, and the procedures for maintaining a register of members • Transfer of Securities o Guidelines and procedures for the transfer of shares and securities, including legal restrictions and protections for transferees, are discussed • Nomination and Transmission of Shares o The procedures for nominating shares, involuntary transfers, and transmissions in various circumstances, including insolvency and mental incapacity • Democracy of Shareholders o This chapter emphasises the ultimate ownership by shareholders, detailing the types and procedures of shareholder meetings, including the annual general meeting • Procedure of General Meeting o It provides a comprehensive guide to conducting general meetings, including notices, voting procedures, and the role of the company secretary • Directors of Company o Roles, responsibilities, appointment processes, and the legal position of directors are explored, including remuneration and the concept of independent directors • Disqualifications and Removal of Director o The legal grounds for disqualification, procedures for removal, and the implications of director vacancies are thoroughly examined • Restrictions on Directors in Relation to Company o Detailed restrictions on directors' actions, such as related party transactions, loans, and contracts, are outlined • Duties, Rights, and Liabilities of a Director o An in-depth look at the legal duties, rights, and potential liabilities of directors under various circumstances • Meeting of the Board of Directors o This chapter details the procedures for board meetings, including agenda setting, quorum requirements, and the role of the chairperson • Report of Board to Members o The contents and requirements of the directors' report, particularly for listed companies, are explained • Corporate Governance o The principles and practices of corporate governance, including SEBI requirements, are discussed, emphasising transparency and integrity • Restrictions on Powers of Board o Legal restrictions on the board's powers, such as borrowing limits and investment rules, are outlined • Key Managerial Personnel o The roles and responsibilities of key managerial personnel, including managing directors and company secretaries, are analysed • Charge on Assets of the Company o Guidelines for securing borrowings through charges on company assets, including filing requirements and penalties for non-compliance • Debentures o The nature, types, and issuance procedures for debentures are detailed, along with protections for debenture holders • Public Deposits o Procedures and restrictions for accepting public deposits, including repayment requirements and exemptions • Accounts of the Company o Requirements for maintaining and auditing financial accounts, including the role of the National Financial Reporting Authority (NFRA) and accounting standards • Dividend o Rules and procedures for declaring and paying dividends, including SEBI requirements and provisions for unpaid dividends • Financial Audit of Accounts o The role and responsibilities of auditors, including appointment procedures and the scope of audit reports • Cost Audit and Secretarial Audit o Detailed processes for cost and secretarial audits, including applicable standards and the distinction from financial audits • Private Companies o Special provisions and requirements for private companies, including conversion processes and potential personal liabilities • Holding and Subsidiary Companies o Implications and legal provisions for holding and subsidiary relationships, especially for listed companies • Companies Licensed Under Section 8 o Requirements and regulations for non-profit companies and electoral trusts • Government Companies o Special provisions for companies where the government is a major shareholder, including audit and reporting requirements • Foreign Company o Regulations applicable to foreign companies operating in India, including limitations and share issuance rules • Other Types of Companies o Provisions for small companies, one-person companies, dormant companies, and specific industry-related companies like banking and insurance • Miscellaneous Provisions in Company Law o Additional regulations and procedural aspects, including service of documents, mediation, and the Insolvency and Bankruptcy Code • Overview of NCLT Related Issues o Comprehensive coverage of the National Company Law Tribunal's (NCLT) role, procedures for mergers, takeovers, and insolvency resolution • Penalties and Punishments o General and specific provisions regarding penalties for non-compliance, fraud, and other offences • Rules of Interpretation o Guidelines for interpreting company law statutes, including general and specific rules, aids, and presumptions • Miscellaneous o Additional provisions covering document service, removal of company names, jurisdiction of courts, and rule-making powers

Author: Sushma Arora
Publisher: Taxmann Publications Private Limited
ISBN: 9357786775
Category : Education
Languages : en
Pages : 27

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Book Description
This book provides a comprehensive and authentic guide on key Business Laws, including: • Indian Contract Act, 1872 • Sale of Goods Act, 1930 • Limited Liability Partnership Act, 2008 This book aims to impart fundamental working knowledge of essential business laws relevant to general business activities in both physical and virtual spaces. It includes relevant case laws to enhance understanding. This book is designed to meet the needs of students enrolled in undergraduate courses in commerce and management, particularly: • B.Com. (Hons.) Core Paper BCH: DSC – 1.2, based on the Undergraduate Curriculum Framework (UGCF) for Delhi University • B.Com. (Prog.) Core Paper BC: DSC 1.2, based on the UGCF for Delhi University • Non-Collegiate Women's Education Board • School of Open Learning of the University of Delhi • Various Central Universities throughout India • BBA, MBA, CA-Intermediate (IPC), and Company Secretaries courses The Present Publication is the 12th Edition, authored by Sushma Arora, and includes the following noteworthy features: • [Highlights of the 12th Edition] o Revised and Updated Text – The content has been thoroughly revised and updated to reflect the latest changes in business laws o Indian Contract (Amendment) Bill, 2024 – The amended definition of coercion as per Section 15 of the Indian Contract (Amendment) Bill, 2024, dated February 2, 2024, has been added in Chapter 5 o Replacement of IPC, CrPC, and Evidence Act – The Indian Penal Code (IPC) has been replaced with the Bharatiya Nyaya Sanhita (BNS), the Code of Criminal Procedure (CrPC) with the Bharatiya Nagarik Suraksha Sanhita (BNSS), and the Indian Evidence Act with the Bharatiya Sakshya Adhiniyam (BSA). These new laws will come into effect from July 1, 2024. Key provisions of BNS and brief descriptions of the other two Acts are provided in Chapter 6 o Companies Act Provisions Applicable to LLP – The Ministry of Corporate Affairs (MCA), via Notification No. G.S.R. 110(E), dated February 11, 2022, has made certain sections of the Companies Act 2013 applicable to Limited Liability Partnerships (LLP). These sections are covered in Chapter 19 o Limited Liability Partnership (Second Amendment) Rules, 2023 – The MCA, via Notification No. G.S.R. 644(E), issued on September 4, 2023, substituted Forms 3 and 4 in the Limited Liability Partnership Rules, 2009. These changes are included in Chapter 20 o Limited Liability Partnership (Third Amendment) Rules, 2023 – On October 27, 2023, the Central Government notified the Limited Liability Partnership (Third Amendment) Rules, 2023, which include major changes such as maintaining a register of partners and providing declarations disclosing beneficial interest. These amendments are added in Chapter 21 o Practical Exercises – Practical exercises as per the New Education Policy have been included before the DU question papers section. These exercises, including case studies on Caveat Emptor under UNIT 4, Sale of Goods Act, 1930, aim to provide practical exposure o Content Enrichment – Content in some chapters has been enriched to provide a more comprehensive understanding. • [Simple & Systematic Presentation] The subject matter is presented systematically and straightforwardly, along with comprehensive explanations • [Examples & Case Studies from Landmark Rulings] This book offers extensive coverage of business laws with interesting examples and case studies derived from landmark rulings. It also covers case laws recommended by the Department of Commerce, Delhi University • [Test Questions | Practical Problems | True/False Statements] At the end of each chapter, test questions, practical problems, and true/false statements with hints are provided to give students thorough practice in solving examination questions • [Previous Exam Question Papers] The book includes previous exam question papers from the last few years to help students understand the types of questions usually asked • [Student-Oriented Book] Developed with student interaction in mind, this book incorporates feedback and responses from classroom experiences shaped by the author's extensive teaching experience at various levels The contents of this book are as follows: • Indian Contract Act, 1872 o Nature, Meaning, Essentials, and Kinds of Contract § This chapter introduces the Indian Contract Act, detailing its extent and commencement and addressing the limitations of the Act. It defines what constitutes a contract, emphasising that while all contracts are agreements, not all agreements qualify as contracts. The essentials of a valid contract are thoroughly discussed, highlighting key aspects such as the nature of contracts, their classification, and significant distinctions in contract law. § Practical examples, test questions, and true/false statements are included to reinforce learning. o Offer and Acceptance § This chapter explains the concepts of offer and acceptance, which are critical to forming a contract. It defines a valid offer, differentiates between an offer and an invitation to offer, and categorises different offers. The chapter also covers the importance of special terms in contracts and the enforceability of agreements in the future. It discusses the elements of valid acceptance, communication protocols, and the revocation of offers and acceptances. § Practical scenarios like contracts made via telephone, telex, fax, or email are also examined. § Test questions, practical problems, and true/false statements are provided to aid understanding. o Consideration § Here, the concept of consideration is explored, defining what constitutes valid consideration and its essentials. The rule of 'no consideration, no contract' is explained along with its exceptions. The doctrine of privity of contract is discussed to illustrate who can enforce a contract. § To ensure thorough comprehension, the chapter is supplemented with test questions, practical problems, and true/false statements. o Competency of the Parties to Contract § This chapter discusses the legal capacity of parties to enter into a contract, explaining who is competent to contract, including minors, persons of unsound mind, and disqualified persons. It discussed the nature of minors' agreements and the law relating to such agreements. § The chapter includes test questions, practical problems, and true/false statements to facilitate practical understanding. o Free Consent § Free consent is crucial for a valid contract, and this chapter defines consent and free consent, addressing factors that vitiate free consent, like coercion, undue influence, fraud, misrepresentation, and mistake. It explains the features, effects, and distinctions between these factors. § Case studies, practical examples, test questions, and true/false statements are included. o Legality of Object and Consideration § This chapter outlines what makes an object or consideration lawful or unlawful, discussing the public policy doctrine and its application. Agreements opposed to public policy and the effects of illegal agreements are examined. § Practical problems, test questions, and true/false statements are provided to illustrate these concepts. o Void Agreements and Contingent Contracts § The nature of void agreements and contingent contracts is explained in this chapter. It covers expressly declared void agreements, collateral transactions, and the doctrine of restitution. The rules regarding the performance of contingent contracts and the distinction between wagering agreements and contingent contracts are discussed. § This chapter includes practical problems, test questions, and true/false statements. o Quasi Contracts § Quasi-contracts are analysed, and their rationale and various types are defined. § The chapter includes practical examples and test questions to help students understand quasi-contracts' theoretical and practical aspects. • Discharge of Contract and Remedies for Breach of Contract o Discharge of Contract § This chapter discusses the various modes of discharging a contract, including performance, agreement, impossibility, lapse of time, breach, and operation of law. It provides a detailed examination of each mode and its implications. § Test questions and true/false statements are included to test comprehension. o Remedies for Breach of Contract § The remedies available for breach of contract are detailed in this chapter, including damages, rescission, quantum meruit, specific performance, and injunction. § Each remedy is explained with examples, and practical problems, test questions, and true/false statements are provided to reinforce understanding. • Introduction to Special Contracts o Indemnity and Guarantee § This chapter introduces contracts of indemnity and guarantee, discussing their essentials, rights, and liabilities of the parties involved. Distinctions between indemnity and guarantee, types of guarantees, and the revocation of continuing guarantees are explained. § Test questions, practical problems, and true/false statements are included. o Contract of Bailment and Pledge § The concepts of bailment and pledge are covered in this chapter, explaining their essentials, types, rights, and duties of bailors and bailees and the distinctions between bailment and pledge. § The chapter includes practical problems, test questions, and true/false statements. o Contract of Agency § Agency contracts are analysed in this chapter, defining agents and principals, the creation and termination of the agency, and the rights and duties of agents and principals. Distinctions between sub-agents and substituted agents are also discussed. § This chapter includes test questions, practical problems, and true/false statements. • Sale of Goods Act, 1930 o Nature and Formation of Contract of Sale § This chapter explains the provisions of the Sale of Goods Act, defining key terms and the essentials of a valid contract of sale. It discusses the classification of goods, the effect of the perishing of goods, and the ascertainment of price. § Test questions, practical problems, and true/false statements are provided. o Conditions and Warranties § The distinctions between conditions and warranties, their implications, and the doctrine of caveat emptor are covered in this chapter. § It includes test questions, practical problems, and true/false statements to reinforce learning. o Transfer of Property § Rules regarding the transfer of property, the principle of 'nemo dat quod non-habet' (sale by non-owners), and the implications of these rules are discussed in this chapter. § Practical problems, test questions, and true/false statements are included. o Performance of Contract of Sale § This chapter explains the meaning and modes of delivery, the rules relating to the delivery of goods, and the rights and duties of buyers and sellers. § Test questions and true/false statements are provided to aid understanding. o Unpaid Seller and His Rights § The rights of unpaid sellers, including lien, stoppage in transit, and resale, are discussed in this chapter, along with the remedies available to buyers against sellers. § Test questions, practical problems, and true/false statements are included. • Limited Liability Partnership Act, 2008 o Introduction to LLP – Nature and Scope § This chapter introduces the Limited Liability Partnership (LLP) Act, explaining the need for LLPs, their objectives, global scenarios, prospective users, and legal framework. Key features and comparisons with other business forms are discussed. § Test questions and true/false statements are provided. o Formation and Incorporation of LLP § The prerequisites and process for incorporating an LLP, recent amendments, and the provisions relating to the name and registered office of an LLP are covered in this chapter. § Test questions and true/false statements are included. o Partners and Their Relations in LLP § This chapter explains who can be a partner in an LLP, the rights and duties of partners, the extent of liability, and the process of ceasing to be a partner. The concept of whistleblowing and the contribution of partners are also discussed. § Test questions and true/false statements are provided. o Conversion into LLP § The procedures for converting a partnership firm, private company, and unlisted public company into an LLP are detailed in this chapter. § Test questions and true/false statements are included to aid comprehension. • Practical Exercises o Practical exercises are provided for each unit, covering various scenarios to help students apply theoretical knowledge to real-life situations. These exercises are designed to provide practical exposure and are followed by question papers from previous years to help students prepare for exams effectively.

Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9357789731
Category : Law
Languages : en
Pages : 22

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Book Description
This book is the most authentic and comprehensive resource on over 10 of India's key corporate laws, presented in a convenient pocket-sized paperback format. It is an invaluable tool for legal professionals, corporate entities, academicians, and students specializing in corporate law. The Present Publication is the 50th Edition & updated upto 10th June 2024. It is edited by Taxmann's Editorial Board, and it covers the following Laws: • Annotated text of the Companies Act, 2013 [as amended upto date]. Annotations under each Section shows the following: o Relevant Rules framed under the relevant Section o Reference to relevant Forms prescribed o Exemptions available to Private Companies, Government Companies, Nidhis, Charitable Companies, Unlisted Public Company, and Private Companies operating from IFSCs located in SEZ o Exemptions available to Financial Products/Services/Institutions in IFSCs o Gist of relevant Circulars & Notifications o Date of enforcement of provisions o Corresponding provisions under the 1956 Act o Words and phrases judicially noticed o Allied Laws referred to in the provision o Relevant provisions of SEBI Rules/SS-1 to SS-4/Listing Obligations/Table F of Schedule I • Securities Contracts (Regulation) Act, 1956 [as amended by the Finance Act 2023] • Limited Liability Partnership Act, 2008 [as amended up to date] • Emblems and Names (Prevention of Improper Use) Act, 1950 [as amended up to date] • Foreign Exchange Management Act, 1999 [as amended up to date] • Foreign Contribution (Regulation) Act, 2010 [as amended up to date] • Depositories Act, 1996 [as amended up to date] • Insolvency and Bankruptcy Code, 2016 [as amended up to date] with the following: o Provisions of other Acts referred to in the Insolvency and Bankruptcy Code • Competition Act, 2002 [as amended by the Competition (Amendment) Act 2023] • Securities and Exchange Board of India (SEBI) Act, 1992 [as amended up to date] • Right to Information Act, 2005 [as amended up to date]

Author:
Publisher:
ISBN: 9788171945375
Category :
Languages : en
Pages : 392

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Book Description
A Comprehensive And Complete Guide To Law & Procedures Prescribed Under Llp Act 2008/Llp Rules 2009

Author: Alan R. Bromberg
Publisher: Aspen Publishers
ISBN: 9780316111379
Category : Limited liability
Languages : en
Pages : 651

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Book Description
From the undisputed authorities on partnership law, here's the ONLY one-volume, fast-access reference to LLPs - with expert coverage of statutes in 50 states and D.C., plus text and analysis of RUPA with up-to-date LLP mendments, sample state statutes with comparison tables and a ready-to-adapt model LLP agreement. . Now you can use the latest law to structure your partnership to avoid vicarious liability, minimize partner liability for partnership debts, and resolve choice of law problems and other litigation issues Whether you're planning for your own practice or advising clients on organizing their business, turn to this up-to-the-minute, information-packed guide for comprehensive, insightful analysis of the latest developments in LLP law. You'll get practical, expert advice on such relevant issues as: Strategies for choosing (or changing) business form - including tax, liability, insurance, financial, and management issues - with a decision tree to help you ask the crucial questions the scope of liability limitations under different state statutes, including partners' liability for obligations after dissolution and determination of when the liability shield becomes effective Choice of law issues in multistate and multinational operations - including long-arm and diversity jurisdiction - with all the latest cases Exploration of employment, bankruptcy and securities law issues affecting LLPs 'Check-the-box' tax classification rules.

Author: Dr. Vinod K Singhania
Publisher: Taxmann Publications Private Limited
ISBN: 9357788794
Category : Law
Languages : en
Pages : 15

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Book Description
Direct Taxes Ready Reckoner has been a trusted companion for tax professionals across India for more than forty years, providing unparalleled clarity and comprehensive coverage of the Income-tax Act. In its 48th Edition, the Present Publication has been updated to incorporate the latest legislative changes by the Finance (No. 2) Bill, 2024, as passed by the Lok Sabha. Applicable for Assessment Years 2024-25 and 2025-26, this edition is authored by Dr Vinod K. Singhania, whose expert analysis has established this book as a cornerstone in direct taxation in India. The key highlights of this edition include: • Focused and Succinct Analysis o This edition continues the tradition of providing a focused analysis of the provisions of the Income-tax Act, eschewing unnecessary paraphrasing and complex legal jargon. The amendments introduced by the Finance (No. 2) Bill, 2024 are seamlessly integrated into the text, with clear highlights and explanations provided in each relevant chapter • Illustrative Coverage of Recent Amendments o A unique feature of this edition is Referencer 2—Amendments at a Glance, which provides a comprehensive and illustrative breakdown of all the recent amendments. This section is designed to help readers quickly grasp the implications of the latest legislative changes, supported by practical examples and scenarios • In-Depth Case Studies on Complex Provisions o Understanding the practical impact of legislative changes can be challenging. This edition includes in-depth case studies on some of the most complex provisions and amendments to aid comprehension. These include: § Analysis of increased tax rates on long-term and short-term capital gains (Sections 111A, 112 & 112A) § Examination of changes in the period of holding for capital asset classification (Section 2(42A)) § Detailed discussion on the withdrawal of indexation benefits and the implications of the grandfathering clause for resident individuals and HUFs (Section 48) § Understanding of special provisions for capital gains computation related to unlisted bonds and debentures (Section 50AA) § Detailed guidance on the computation of deemed dividends on share buybacks (Sections 2(22)(f) & 46A) § Analysis of the revised limits on remuneration and TDS applicability for firms (Sections 40 & 194T) § Analysis of the abolition of the Angel Tax (Section 56(2)(viib)) § A comprehensive overview of block period assessments in search and requisition cases (Chapter XIV-B, Sections 158B to 158BI) § A critical examination of the new provisions for income reassessment (Sections 148 to 153) o Comprehensive Analysis of the Income-tax Act § Beyond the recent amendments, this edition provides an exhaustive analysis of all the provisions of the Income-tax Act. The commentary is enriched with references to relevant rules, case laws, circulars, and notifications, ensuring that readers have a holistic understanding of the law o Alternative Tax Regime § The book includes a detailed discussion of the alternative tax regime, complete with break-even tables that provide a clear comparison between different tax regimes, enabling taxpayers to make informed decisions o Faceless Tax Proceedings § This edition covers the legal framework for faceless tax proceedings, summarizing the relevant provisions to ensure that readers are well-prepared for these modernized tax processes o Enhanced Usability with Tabular Presentations § Key provisions of the Income-tax Act are organized into intuitive tables for easy reference, allowing professionals to access essential information quickly. This includes a referencer on tax audits under Section 44AB, with interconnections to Sections 44AD/44ADA, alternative tax regimes, the Vivad se Vishwas Scheme, taxation of life insurance policies, and capital gains exemptions o Comprehensive Tax Computation Guidelines § Detailed guidelines on the computation of taxes across various income slabs are provided, ensuring that professionals can carry out accurate and compliant tax calculations o Ready Referencer for Tax Information § The book serves as an essential ready reference, offering the latest tax rates, TDS and TCS rates, due dates, and other critical tax-related information in a concise format o Commitment to Accuracy – Zero Error Approach § Upholding the Six Sigma principles, this edition strives for 'zero error,' making it one of the most reliable resources in the field of direct taxation In addition to the focused analysis and case studies, this edition includes a wide range of topics crucial for tax professionals: • [Tax Rates] Detailed rates for the assessment years 2024-25 and 2025-26, along with historical tax rates for the past ten assessment years • [Market Quotations] Current and historical gold and silver rates, dating back to April 1, 1981/April 1, 2001 • [Tax-saving Schemes] An overview of various tax-saving schemes, enabling professionals to provide comprehensive tax planning advice • [Depreciation Rates] Detailed coverage of depreciation rates under both the Income-tax Act and the Companies Act, 2013 • [Deductions and Allowances] A complete guide to deductions and allowances available under the Income-tax Act • [Income Computation and Disclosure Standards] Guidance on ICDS, with practical insights on their application • [Withholding Tax Rates] Current withholding tax rates, along with a discussion of the impact of recent changes • [Faceless Proceedings] An understanding of the faceless proceedings framework, including timelines and procedural analysis • [Penalty and Interest Provisions] A thorough review of penalty and interest provisions under the Income-tax Act, ensuring professionals are well-versed in the consequences of non-compliance

Author: Dr. Vinod K Singhania
Publisher: Taxmann Publications Private Limited
ISBN: 9357784934
Category : Education
Languages : en
Pages : 26

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Book Description
Taxmann's flagship publication for students on Income Tax & GST Law(s) is designed to bridge the gap between theory and application. Written in simple language, it explains legal provisions step-by-step with suitable illustrations, avoiding paraphrasing and legal jargon. This book is an authentic, up-to-date, and amended textbook on Income Tax & GST for students of CA Intermediate (Sept. 2024/Jan. 2025), CS Executive (Dec. 2024), CMA (Dec. 2024), B.Com., M.Com., MBA and other professional examinations. The Present Publication is the 71st Edition | 2024-25 and amended upto 15th June 2024. This book is authored by Dr Vinod K. Singhania & Dr Monica Singhania, with the following noteworthy features: • [Comprehensive Coverage] of this book includes: o Unit 1 – Income Taxes o Unit 2 – GST • [Extensive Problem Sets] Over 500 solved problems with an equal number of unsolved exercises • [Past Exam Questions] Includes questions set for CA (Inter/IPCC) examinations over the last five years, with solutions for both theory and practical questions o Income Tax problems are solved as per the law applicable for A.Y. 2024-25 o GST problems are solved according to the law as amended up to June 15, 2024 • [Features] of this book are as follows: o [Student-Friendly Approach] The book adopts a 'teach yourself' technique, enhancing the learning process with a clear, step-by-step explanation of legal provisions o [Illustrative Problems] Each chapter includes analytical discussions supported by original problems, fostering a deeper understanding of complex provisions o [Practical Exercises] To build confidence in solving practical questions, solved problems are followed by unsolved exercises with answers provided in the appendix § For Solutions to the unsolved exercises, students may refer to the 29th Edition of Taxmann's Students' Guide to Income Tax including GST Problems & Solutions o [Professional Exam Focus] Sections marked with a ➠ symbol cater specifically to professional exam aspirants while also being beneficial for high-achieving university students o Follows the Six-Sigma Approach to achieve the benchmark of 'Zero-Error' 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