Income Tax Made Easy: Must-Read Bestsellers for Tax Professionals, Students and Taxpayers

Income Tax is essentially not everyone’s cup of tea, majorly because of the complexities that come with it. We humans always want things to be easy to comprehend and interpret. Whether you are a tax professional who is trying to cope with the amendments and evolutions within tax systems, a student trying to grasp the basics or even a taxpayer for whom income tax is an annual rollercoaster ride of additions, deductions, exemptions, income taxes have a universal existence and application. But what if I tell you that Income taxes can be made easy, just like we want it to be? Yes, with the right resources, Income taxes can be easily comprehended.

In this article, I have curated a list of must-read books, all bestsellers on Shopscan, that cater to every kind of researcher and taxpayer. Whether you are looking to build a strong foundation or dealing with a specific challenge, these books have something to help everyone understand the world of income tax. Grab your pen, get comfortable, look at these books and ace the Income tax game.

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Book 1:  Tax Planning – Practical Aspects

Author: CA. Chunauti H. Dholakia

Edition: 1st Edition

Content Highlights: The book contains the basics of Tax Planning and tax systems in India. It discusses tax planning for Businessmen, Hindu Undivided families, Salaried Persons, Real Estate Transactions, and Non-Residents.  Grab your copy from Shopscan.

Book 2: Computation of Income From Salary

Author: Ram Dutt Sharma

Edition: 10th Edition 2024

Content Highlights: The most recent 2024 edition of Ram Dutt Sharma’s Commercial’s Computation of Income From Salary under Income Tax Law with Tax Planning. Includes

• essential characteristics of salary
• Different forms of salary
• Exempted salary
• Scope of total income
• Deemed to be received
• Deduction from salaries

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Book 3: Guide to Tax Deduction At Source & Tax Collection at Source

Author: Dr Girish Ahuja & Dr Ravi Gupta

Edition: 21st Edition 2024

Content Highlights: Contains the latest tax laws and regulations on Tax Deduction at Source & Tax Collection at Source Including Advanced Tax Refunds. Contains explanations, practical examples, and expert analysis. Includes

• System of collection of tax {sections 190 and 191}
• TDS from salary
• How to Estimate Income under the Head “Salaries” for Purposes of TDS [Sections 15 to 17]
• TDS from Payment of Accumulated Balance due to an Employee from Recognised Provident Fund [Section 192A]
• TDS from Dividends [Section 194]
• TDS from Winnings from Lottery or Crossword Puzzle, etc. [Section 194B]
• TDS from Winnings from online games [Sections 194BA] and many more

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Book 4: Capital Gains Tax: Law and Practice

Author: T.G Suresh

Edition: 7th Edition

Content Highlights: It is a comprehensive reference book on the legal and practical aspects of taxing short-term and long-term capital gains under Chapter IV(E) of the Income Tax Act, 1961. The seventh edition is revised and updated to reflect the amendments introduced by the Finance Act (No. 2), 2024. Includes

• Basics of Capital Gains
• Business Transactions
• Business Restructuring
• Capital Gains under Double Taxation Avoidance Agreements and Multi-lateral Instrument
• Relevant Sections and Rules of Income Tax and Other Statutes and many more

 Grab your copy now from Shopscan.

Book 5: Income Tax Act

Author & Publisher:  Bharat Law House Pvt Ltd

Edition: 35th Edition 2024

Content Highlights: Bharat’s Income Tax Act also Contains Departmental Views, Gist of CBDT Circulars Supreme Court Rulings and Finance Act, 2024 & Finance (No. 2) Act, 2024. Grab your copy Today at Shopscan.

Book 6: Hindu Undivided Family (Formation, Management & Taxation)

Author: CA Pawan K Jain

Edition: 15th Edition, 2024

Content Highlights: The book is a comprehensive guide on the formation, management, and taxation of Hindu Undivided Families (HUFs) in India. This 15th edition, updated to the Finance (No. 2) Act, 2024, provides an in-depth understanding of the legal and financial aspects of HUFs. Includes:

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Includes:

• Who is a Hindu?
• Coparcener
• Karta
• HUF and Property
• AGGREGATION OF INCOME AND SET OFF OR CARRY FORWARD OF LOSS
• HUF and Business
• Assessment of Hindu Undivided Family
• Hindu Marriages and many more

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Book 7: Tax Treatment of Agricultural Income Under Income Tax Law

Author: Ram Dutta Sharma

Edition: 2nd Edition

Content Highlights: The 2d edition includes Tax Treatment of Agricultural Income Under Income Tax Law As Amended by The Finance (No.2) Act, 2024. Includes:

• Background of Agricultural Income-tax
• Legal position of tax on agriculture
• Meaning of agricultural income
• Tests to determine agricultural income
• Taxability of Income from Nursery growing and selling flowers, flowers plants
• Exceptions – Not Agricultural Income
• Exemption of Capital gains arising from the transfer of agricultural land and many more

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Book 8: Handbook On Tax Deduction At Source

Author: CA P.T Joy

Edition: 8th Edition 2024

Content Highlights: This book explains different provisions of the Income Tax Act that deals with tax deduction at source. Includes all the latest amendments of tax deduction laws. Includes:

• Collection and Recovery of Tax — Introduction
• Section 192 — TDS on Salary
• Section 192A — Payment of accumulated balance to employees
• Section 194 — TDS from Dividends
• Section 194A — TDS from Interest other than Interest on Securities
• Section 194BA— Winnings from Online Games
• Section 194E — TDS from Payments to Non-resident Sportsmen or Sports Associations
• Section 194F — TDS from Payment on account of repurchase of units by Mutual Fund or Unit Trust of India — (omitted w.e.f. 01.10.2024)
• Section 194LA — TDS on Payment of Compensation on Acquisition of certain Immovable Property (Other Than Agricultural Land) and many more

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Book 9: Income Tax Refunds (Law & Procedure)

Author: Ram Dutt Sharma

Edition: April 2024 Edition

Content Highlights: Chapters with elaborate examples and easy-to-understand content on Tax Refunds.  Includes:

• Chapter 1. Introduction
• Chapter 2. Interest on Excess Refund Granted to the Assessee [Section 234D]
• Chapter 3. Refunds [Section 237]
• Chapter 4. Person Entitled to Claim Refund in Certain Special Cases [Section 238]
• Chapter 5. Income Tax Refund to Legal Heirs
• Chapter 6. Form of Claim for Refund and Limitation [Section 239] and many more

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Book 10: Income Tax Mini Ready Reckoner

Author: Dr Girish Ahouja and Dr Ravi Gupta

Edition: 27th Edition 2024

Content Highlights: Now in its 27th edition, the Income Tax Mini Ready Reckoner is a vital tool for professionals and people looking for a thorough manual on income tax compliance and computations and covers the assessment years 2024–2025 and 2025–2026. Grab your copy now at Shopscan.

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Book 11: Capital Gains (Law & Practice) With Illustrations & Judicial Precedents

Author: CA Divakar Vijayasarathy

Edition: 6th Edition 2024

Content Highlights: This book containsa detailed analysis of different capital gains laws and provides practical application. Includes:

• Basics of Capital Gains
• Business Transactions
• Real Estate Transaction
• Shares and Securities Transaction
• Taxation for Non-residents
• Capital Gains under Double Taxation Avoidance Agreements and Multi-lateral Instrument
• Judicial Precedents and many more

Grab your copy now at Shopscan.

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