On completion of this course, the students will be able to;
CO 94:Categorize the provisions related to computation of taxable income under the head Capital Gain and Income from Other Sources
CO 95:Review the provisions of Deemed Income, Set Off and Carry Forward of Losses and Deductions from Gross Total Income .
CO 96:Collaborating the special provisions of income tax related to assessment of companies. .
CO 97:Appraising special provisions of income tax related to Advance payment of Tax and Procedure of assessment.
CO 98:Understand different provisions relating Calculation of tax liability of different entities.
CO 99: To analyze the way computation of self assessment tax.
Deductions from Gross Total Income & Rebate and Relief: Deductions in respect of certain payments; Specific deductions in respect of certain income; Deductions in respect for donations for expenditure under CSR activities; Rebates and Reliefs.
Computation of total income and Tax Liability of various entities:
Computation of total income and Tax Liability of various entities
Classification and Tax Incidence on Companies :Computation of taxable income and tax liability of Company; Dividend Distribution Tax; Minimum Alternate Tax ‘MAT’; Other Special Provisions Relating to Companies;
Procedural Compliance :Permanent Account Number ‘PAN’ / Tax Collection Account Number ‘TAN’; Tax Deduction at Source ‘TDS’ & Tax Collection at Source ‘TCS’
Advance Tax &Self Assessment Tax ‘SAT’; Returns Procedural, Signatures, E-Filing ; Fee and interest for default in furnishing return of Income ; Collection, Recovery of Tax, Refunds.
Assessment, Appeals & Revision: Assessment; Types of Assessment; Appeals; Revisions; Search, Seizure, Penalty and offences.
• Study Material Published by ICSI
SUGGESTED READINGS:
e-RESOURCES:
https://www.icsi.edu/media/webmodules/TL_Final_pdf_25102021.pdf
JOURNALS:
https://www.icsi.edu/e-journals/