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INCOME TAX LAW & PRACTICE
Course Outcomes (COs):
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Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO 51: Investigate the complete knowledge of basic concepts of income tax. CO 52: Construct residential status of a person. CO 53: Measure the income under different heads. CO 54: Acquire knowledge regarding provisions of set-off and carry forward of losses along with deemed income. CO 55: Assess the income of an individual after defining deductions U/S 80.
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Interactive Lectures, Discussion, Tutorials, Team teaching
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
• Definitions Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income
• Residential Status of an individual and Scope of Total Income
• Tax Rates, Rebates & Reliefs
• Computation of Taxable Income Under the Head Salaries
• Computation of Taxable Income under the Head House Property
• Computation of Taxable Income under the head Business and Profession: Concept
• Depreciation, Additional Depreciation, Unabsorbed Depreciation
• Deductions U/S 30, U/S 31, U/S 36, U/S 37, U/S 40, U/S 40A, U/S 40A(3), U/S 43(B),
44AA & 44AB
• Presumptive Taxation U/S 44AD, U/S 44ADA & 44AE
• Capital Gains: Concept & Computation
• Exemptions U/S 54, 54EC & 54F
• Computation of Taxable Income under the Head Other Sources
• Deemed Income & Set off and carry forward of Losses
• Deductions from Gross Total Income: 80C, 80D, 80DD, 80DDB, 80E, 80EEB, 80G, 80TTA, 80TTB & 80U
• Assessment of Individual
• Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot)
• Income Tax-Patel, Chaudhary, Sharma, Modi, Bardia
• Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
• Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
• Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
• Law and Practice of IncomeTax, MrDinkarPagare, (M/S Sultan Chand& Sons)
• Income Tax for Students-Sharad Bhargav, (Mashbara Industries)
• Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)
