Taxation- I

Paper Code: 
25AAF114
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to acquire knowledge of provisions of Income Tax Act, 1961 including the computation of taxable income and its assessment.

Course Outcomes: 

Course

Learning Outcomes

(at course level)

Learning and

teaching strategies

Assessment Strategies

Course Code

Course Title

 

 

 

 

 

 

 

 

 

 

25AAF114

 

 

 

 

 

 

 

 

 

Taxation- I

(Theory)

CO19: Apply knowledge of basic provisions of income tax and to acquaint the students with practical aspects of residential status

CO20: Computation of allowances and retirement benefits under the head Salaries

CO21: Apply knowledge regarding special provisions of income tax related to perquisites and deductions from Salary

CO22: Assess the provisions of House Property and computation of taxable income.

CO23: Assess the provisions of Income Tax act related to computation of Income under the head Business or Profession

CO24: Contribute effectively in course – specific interaction.

Approach in teaching: Interactive Lectures, Tutorials, Discussions, Problem Solving Sessions, Presentations

 

Learning activities for the students: Self-learning assignments, Case     Study Analysis, Application based questions,

Group Discussions

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

 

12.00
Unit I: 
Introduction to Income Tax & Residential Status:

• 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: Residential status, Scope of total income

12.00
Unit II: 
Computation of Taxable Income under the Head Salaries:

• Basic Concepts, Allowances & Profit in lieu of Salary/Retirement Benefits

12.00
Unit III: 
Computation of Taxable Income under the Head Salaries:

• Perquisites and Deductions

12.00
Unit IV: 
Computation of Taxable Income under the Head House Property:

• Provisions related to taxability under the head
• Deductions
• Other Provisions

12.00
Unit V: 
Income under the Head Business and Profession:

• Computation of taxable income under Business & Profession

Essential Readings: 

1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi)
2. Law and Practice of IncomeTax, MrDinkar Pagare, (M/S Sultan Chand& Sons)
3. Income Tax for Students-Sharad Bhargav, (Mashbara Industries)

References: 

1. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi) Law and Practice of IncomeTax, MrDinkarPagare, (M/S Sultan Chand& Sons)
2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardia
3. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
4. Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)
E-Content:
1. https://www.incometaxindia.gov.in/pages/tutorials.aspx
2. https://www.taxmann.com/virtualbooks/product/6695-income-tax-act-2021-vi...
Reference Journals:
1. Tax World

Academic Year: 
2025-2026
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