Taxation-I

Paper Code: 
24BCP212
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to develop an understanding of the provisions of income-tax law and to acquire the ability to apply such knowledge to make computations and address application oriented issues.

 

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

24BCP212

Taxation-I

(Theory)

 

CO 1Develop a comprehensive understanding of concepts of Income Tax and determine of residential status & scope of total income.

CO 2Compute salary income of an individual by making use of Sec 15, 16 and 17 of Income Tax Act provisions.

CO 3Make 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 4Compute the taxable income under the head Capital Gain & Income from Other Sources under the provisions of Income tax act.

CO 5Compute the taxable incomes through aggregation of Income adjust the taxable income through set off and carry forward of losses under the provisions of Income tax act.

CO 6Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

 

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects.

 

18.00
Unit I: 
Introduction and Residential status
  • Basic Concepts: Income-tax law: An introduction, Significant concepts in income-tax law, including person, assessee, previous year, assessment year, income, agricultural income, Basis of Charge, Procedure for computation of total income and tax payable in case of individuals
  • Residential status and scope of total income: Residential status, Scope of total income

 

18.00
Unit II: 
Income under the head Salaries and House Property
  • Salaries
  • Income from house property

 

18.00
Unit III: 
Income under the head Business and Profession
  • Profits and gains of business or profession

 

18.00
Unit IV: 
Income under the head capital Gains and Other Sources
  • Capital gains
  • Income from other sources

 

18.00
Unit V: 
Clubbing and Set off
  • Provisions relating to clubbing of incomes set-off or carry forward and set-off of losses,

 

Essential Readings: 
  • Study Material Published by Institute of Chartered Accountants of India

 

References: 

SUGGESTED READINGS:

  • 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

 

E-RESOURCES:

 

JOURNALS:

  • The Chartered Accountant Journal /ICAI Student Journal
  • The ICFAI reader
  • The Indian Journal of Commerce

 

 

Academic Year: 
2024-2025
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