CMA Knowledge Series on Direct Taxation CMA Inter (Group I Paper 7A)

This edition of Direct Taxation (CMA INTER – Group 1, Paper 7A), authored by FCMA Govada Chalapathi Rao (G.C. Rao), is prepared strictly as per the New Syllabus 2022 and is applicable for the December 2023 Examination (Assessment Year 2023–2024).

The book offers comprehensive coverage of income tax law, combining conceptual clarity with exam-oriented presentation. It explains the provisions of the Income Tax Act in a structured manner, enriched with illustrations, solved examples, and relevant case references. This makes it a perfect study companion for CMA Intermediate students, whether for classroom learning or self-study.

The content spans the full scope of Direct Taxation, including:

• Basic Concepts of Income Tax and Residential Status

• Scope of Total Income and Tax Incidence

• Computation under various heads of income – Salaries, House Property, Business/Profession, Capital Gains, and Other Sources

• Deductions under Chapter VI-A

• Set-off and Carry Forward of Losses

• Clubbing of Income and Aggregation Rules

• Computation of Total Income and Tax Liability

• Advance Tax, TDS/TCS, and Filing of Returns

• Assessment Procedures, Reassessment, and Appeals

• Penalties, Prosecution, and Recovery Provisions

• Special Provisions for Non-Residents and International Taxation

• Incorporation of all recent amendments applicable for AY 2023–2024

Key Highlights of this Edition:

• Authored by an experienced CMA professional with deep subject expertise

• Exam-focused presentation with solved illustrations and practice problems

• Covers latest amendments and assessment provisions in detail

• Structured for both quick revision and in-depth study

This edition is particularly suitable for:

• CMA Intermediate students appearing for the Dec. 2023 examination

• Faculty and coaching institutes teaching direct taxation

• Self-learners looking for a syllabus-aligned, easy-to-follow guide

• Professionals and trainees seeking a refresher on income tax provisions

Whether used in academic preparation or as a reference in practice, Direct Taxation provides a complete, updated, and student-friendly approach to mastering the subject and achieving examination success.