 Only thirty-nine tractates of the Mishna have Gemara.The Talmud, then, consists of the Mishna (traditions from 450 BC till 200 AD), together with a commentary thereon, Gemara, the latter being composed about 200-500 AD.Next to the Bible the Babylonian Talmud is the great religious book of orthodox Jews, though the Palestinian Talmud is more highly prized by modern scholars.