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TAXATION-I
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Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|---|---|---|
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CO 45:Examine the different concepts of Income Tax and determination of residential status & scope of total income CO 46:Make use of Sec 15, 16 and 17 of Income Tax Act provisions relating to computation of salary income of an individual CO 47: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 48:Ccompute the taxable income under the head Capital Gain & Income from Other Sources under the provisions of Income tax act. CO 49:Compute the taxable income through aggregation of Income CO 50:Compute the taxable income through set off and carry forward of losses under the provisions of Income tax act. |
Interactive Lectures, Tutorials, Class discussion. 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
Study Material Published by Institute of Chartered Accountants of India
• Girish Ahuja, Ravi Gupta. Professional Approach to Direct Tax, Bharat Law House Pvt. Ltd, New Delhi
• Yogendra Bangar Direct Taxes, Aadhya Publications
• V.K Singhania. Direct Tax Law and Practice, Taxmann Publication, New Delhi
• Arun Kumar. Scanner, Suchitra Prakashan (P) Ltd
