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Direct Tax Laws
To gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of various person under various heads of Income.
Definitions- Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income, Determination of Residential Status of Individual, Hindu Undivided Family, Firm and Companies and Scope of Total Income.
Computation of Taxable Income Under the Head Salaries.
Computation of Taxable Income under the Head House Property.
Depreciation and Other Rebates.
Computation of Taxable Income under the head Business and Profession.
Computation of taxable income under the head Capital Gain and Other Sources.
Deemed Income, Set Off and Carry Forward of Losses.
Deductions from Gross Total Income, Tax Rates, Rebates and Reliefs, Assessment of Individual, Assesment of HUF and Firms.
Wealth Tax Act and Rules: Definitions, Charge of Wealth tax and assets subject to such charge, exemptions, valuation of assets, computation of net wealth and wealth tax. Procedure of assessment , liability to assessment in special cases, appeals, revisions and references, payment of recovery of wealth tax, refunds.
- Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
- Income Tax: Patel, Choudhary, Sharma, Modi, Bardia(Choudhary Prakashan)
- Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi
- Income Tax- Agarwal, Jain, Sharma ,Shah, Mangal ( Ramesh Book Depot)
- Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
- Law and Practice of IncomeTax, Mr Dinkar Pagare, (M/S Sultan Chand& Sons)
- Income Tax for Students-Sharad Bhargav, (Mashbara Industries)
- Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)
Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless
