Course Outcomes (COs):
Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
---|---|---|
On completion of this course, the students will be able to: CO61: Investigate the complete knowledge of basic concepts of income tax. CO62: Construct residential status of a person. CO63: Measure the income under different heads. CO64: Acquire knowledge regarding provisions of set-off and carry forward of losses along with deemed income. CO65: Assess the income of an individual after defining deductions U/S 80. |
Interactive Lectures, Discussion, Tutorials, Team teaching
|
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
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
The Indian Journal of Commerce