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Taxation-I
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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BCP-212 |
Taxation-I |
CO 46:Examine the different concepts of Income Tax and determination of residential status & scope of total income CO 47:Make use of Sec 15, 16 and 17 of Income Tax Act provisions relating to computation of salary income of an individual CO 48:Make use of Income tax Act to compute taxable income from house property and Business or Profession under Sec 23 to 44 of Income Tax Act. CO 49:Compute the taxable income under the head Capital Gain & Income from Other Sources under the provisions of Income tax act. CO 50:Compute the taxable income through aggregation of Income CO 51:Compute the taxable income through set off and carry forward of losses under the provisions of Income tax act. |
Approach in teaching: Interactive Lectures, Tutorials, Class discussion Learning activities for the students: To give assignments &application based questions |
Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation, Individual and group projects |
Basic Concepts
Income-tax law: An introduction
Important definitions in the Income-tax Act, 1961
Concept of previous year and assessment year
Basis of Charge and Rates of Tax
Residential status and scope of total income
Residential status
Scope of total income
Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)
Income not included in total income
Tax Holiday for newly established Units in SEZ
Heads of income and the provisions governing computation of income under head Salaries
Heads of income and the provisions governing computation of income under different heads Income from house property, Profits and gains of business or profession
Heads of income and the provisions governing computation of income under different heads Capital gains, Income from other sources
Income of other persons included in Assessee’s total income Clubbing of income: An introduction, Transfer of income without transfer of assets, Income arising from revocable transfer of assets, Clubbing of income of income arising to spouse, minor child and son’s wife in certain cases, Conversion of self-acquired property into property of HUF
Aggregation of income; Set-off, or carry forward and set-off of losses Aggregation of income, Concept of set-off and carry forward and set-off of losses, Provisions governing set-off and carry forward and set-off of losses under different heads of income, Order of set-off of losses
1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
2. Study Material Published by Institute of Chartered Accountants of India
3. Direct Taxes-Yogendra Bangar (Aadhya Publications)
4. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
5. Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)
