Direct Tax-I

Paper Code: 
BCS 216
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

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

 

18.00
Unit I: 
Direct Taxes at a Glance

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)

 

18.00
Unit II: 
Computation of income under different heads

Salaries

18.00
Unit III: 
Computation of income under different heads

Income from house property

Computation of income under different heads

Profits and gains of business or profession

24.00
Unit IV: 
Computation of income under different heads

Capital gains

Computation of income under different heads

Income from other sources and Fair market value

12.00
Unit V: 
Clubbing, set off and carry forward

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.

 

References: 
  1. Study Material Published by ICSI
  2. Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)

 

Academic Year: 
2021-2022
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