Income Tax Law and Practice -II

Paper Code: 
ATG 411
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of an individual under various heads of Income.   

 COURSE OUTCOMES (COs):

Course

Learning outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG/BSG

/FSG/BSR/

FSM/HRG

/IBG 411

Income Tax Law & Practices-II

CO120:Estimate the income under the head “Income from Capital Gain” & “Other Sources”.

CO121:Acquire knowledge regarding provisions of set-off and carry forward of losses along with deemed income.

CO122:Student will measure the total income of an individual after defining  deductions U/S 80 C to 80 U.

CO123:Student will compute tax liability of an individual.

CO124:Devise the  amendments made from  time to time in Finance Act.

 

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Team teaching

 Learning activities for the students:

Self learning assignments, Effective questions, Seminar presentation, Giving tasks.

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

     

10.00
Unit I: 

Computation of taxable income under the head Capital Gain 

10.00
Unit II: 

Computation of Taxable Income under the head Income from Other Sources  Deemed Income

10.00
Unit III: 

Set off and carry forward of Losses, Deductions from Gross Total Income

10.00
Unit IV: 

Tax Rates, Rebates and Reliefs, Assessment of Individual

5.00
Unit V: 

Procedure of Assessment- 

Filling of Return as Statutory Obligation, Timing of Filing of Return of Income, Defective of Incomplete Return, Belated Return of Income, Permanent Account Number (PAN), Signature on Return, Types of Assessment, Introduction to TDS and Advance Payment of Tax

Essential Readings: 
  1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi
  2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya(Choudhary Prakashan)
  3. Income Tax- Agarwal, Jain, Sharma ,Shah, Mangal ( Ramesh Book Depot)

 

References: 
  1. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
  2. Direct Tax Law and Practice- V.K Singhania  (Taxmann Publication, New Delhi)
  3. Law and Practice of IncomeTax, Mr Dinkar Pagare, (M/S Sultan Chand& Sons)
  4. Income Tax for Students-Sharad Bhargav, (Mashbara Industries)
  5. 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

 

Academic Year: 
2021-2022
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