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Income Tax Law & Practice [1]

Paper Code: 
25CATG301
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to acquire comprehensive knowledge of income tax computation and regulations, covering key concepts such as taxable income under various heads, deductions, exemptions, and provisions for individuals. It enables understanding and application of tax laws to compute total income and tax liability accurately.

 

 

Course Outcomes: 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course title

 

25CATG301

Income Tax Law & Practice (Theory)

CO61: Investigate the

complete knowledge of basic

concepts  of  income  tax  &

salary head and construct

residential status of a person.

CO62: Measure the income

under the heads Salaries.

CO63: Compute the income

under the head House Property and Business and Profession. CO64: Evaluate the income under the heads capital gain

and other sources.

CO65: Acquire knowledge

regarding provisions of

deemed income, set-off and

carry forward of losses and

assess the income of an

individual after defining

deductions U/S 80.

CO66: Contribute effectively in

course – specific interaction.

Approach

in

teaching:

Interactive

Lectures,

Discussion,

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.

 

12.00
Unit I: 
Fundamentals of Income Tax for Individuals:

· Definitions Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income

· Residential Status of an individual and Scope of Total Income

  • The concept of Tax Rates under Old and Default tax regime for individuals
12.00
Unit II: 
Computation of Income under the head Salaries:

Computation of Income Under the Head Salaries

 

12.00
Unit III: 
Computation of Income under the head House Property and Business and Profession:

· Computation of Income under the Head House Property

Computation of Income under the head Business and Profession

12.00
Unit IV: 
Computation of Income under the head Capital Gain and Other Sources:

· Computation of Income under the head Capital Gains

Computation of Income under the Head Other Sources

12.00
Unit V: 
Assessment of Individual:

· 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

Essential Readings: 

· Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot)

· Income Tax-Patel, Chaudhary, Sharma, Modi, Bardia

· Girish Ahuja, Ravi Gupta. Professional Approach to Direct Tax, Bharat Law House Pvt. Ltd, New Delhi

· Yogendra Bangar Direct Taxes, Aadhya Publications

References: 

Suggested Readings:

· 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, MrDinkar Pagare, (M/S Sultan Chand& Sons)

· Income Tax for Students-Sharad Bhargav, (Mashbara Industries)

· Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)

E-Content:

· https://www.incometaxindia.gov.in/pages/tutorials.aspx [2]

· https://www.taxmann.com/virtualbooks/product/6695 income tax act 2021 virtual book [3]

Reference Journals:

· Tax World

· Indian Journal of Finance

· IUP Journal of Applied Finance

· The Indian Journal of Commerce

Academic Year: 
2025-2026 [4]

Follow Accounting and Taxation on:

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India Phone:- +91-141-2400160-61, 2397906-07, Fax: 2395494, 2781158

Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/income-tax-law-practice-2

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/income-tax-law-practice-2
[2] https://www.incometaxindia.gov.in/pages/tutorials.aspx
[3] https://www.taxmann.com/virtualbooks/product/6695-income-tax-act-2021-virtual-book
[4] https://accountingtaxation.iisuniv.ac.in/academic-year/2025-2026