Course Objectives:
To acquire knowledge of practical and procedural aspects relating to Direct Taxation
Course Outcomes (COs):
BCS 216 |
Direct Tax-I |
CO 56:To categorize different concepts of Income Tax CO 57:Assessing the determination of residential status and scope of total income CO 58:Calculating special provisions of income tax related to Computation of Taxable income under the head Salaries CO 59:To moderate provisions of House Property and computation of Taxable Income CO 60:To integrate provisions of Income Tax act related to computation of Income under the head Business or Profession CO 61:To assess the income from other sources along with thrie fair market value. |
Approach in teaching: Interactive Lectures, Tutorials, Class discussion Learning activities for the students: To give assignments & application based questions |
Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation, Individual and group projects |
Background of Taxation system in India, Vital Statistics, Layout and Administration.
Basic Concepts of Income Tax:
Income-tax law: An introduction, Important definitions in the Income-tax Act, 1961, Concept of previous year and assessment year , Basis of Charge and Rates of Tax
Incomes which do not form part of total income: Income not included in total income and tax holidays
Residential status and scope of total income
(i) Residential status
(ii) Scope of total income
Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)
Salaries
Income from house property
Computation of income under different heads
Profits and gains of business or profession
Capital gains
Computation of income under different heads
Income from other sources and Fair market value
Clubbing provisions and Set-off, or carry forward and set-off of losses: Income of other persons included in assessee’s total income, aggregation of income, set off and /or carry forward of losses.