INCOME TAX LAW & PRACTICE- PRACTICAL

Paper Code: 
CATG312
Credits: 
2
Contact Hours: 
30.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO66: Compute the tax sheet of an individual

CO67: Acquire knowledge regarding procedure of assessment

CO68: Attain knowledge of basics of e-filing.

CO69: Explain the process of e-filing of ITRs

CO70: Describe TDS and e-filing of TDS returns

Interactive Lectures, Discussion, Tutorials, Team teaching

 

 

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

 

6.00
Unit I: 
Computation sheet of an Individual

• Preparation of computation sheet of an individual including Marginal Relief, Alternate Minimum Tax and Adjustment of Agricultural Income.
• Comparison of Old Scheme and New Tax Scheme

6.00
Unit II: 
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

6.00
Unit III: 
Conceptual Framework

• Meaning of e-filing, difference between e-filing and regular filing of returns
• Benefits and limitations of e-filing, types of e-filing, e-filing process

6.00
Unit IV: 
Income Tax and E-filing of ITRs

• Instructions for filing out form ITR-1, ITR-2, ITR-3, ITR-4, ITR-4S, ITR-5
• Introduction to Income Tax Portal and preparation of electronic return

6.00
Unit V: 
TDS and E-filing of TDS returns

• Introduction to the concept of TDS
• Provision regarding returns of TDS
• Types of forms for filing TDS returns
• E-filing of TDS returns

Essential Readings: 

• Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot)
• Income Tax-Patel, Chaudhary, Sharma, Modi, Bardia

References: 

SUGGESTED REFERENCE BOOKS:
• 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-SharadBhargav, (Mashbara Industries)
• Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)
e-RESOURCES:
• https://www.incometaxindia.gov.in/pages/tutorials.aspx
• https://www.taxmann.com/virtualbooks/product/6695 income tax act 2021 virtual book
REFERENCE JOURNALS:
• Tax World
• Indian Journal of Finance
• IUP Journal of Applied Finance

Academic Year: 
2023-2024
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