Definition of capital assets- kinds of capital assets-Transfer – short term and long term capital gains-cost of acquisition- cost of improvement-deduction and exemption- computation of capital gains
Specific income chargeable to tax- general income chargeable to tax- Deduction – Interest on securities – Computation of income from other sources
Aggregate of income-Deemed income -set off and carry forward of losses- Clubbing provisions and their Implications -Deduction available from gross total income.
Assessment of individual- Computation of total income of the assessee and Tax liability
Assessment procedure-Filing of return- Permanent Account Number (PAN) – Types of assessment-self-Provisional, Regular, Best-judgement and Re-assessment
Reference Book:
1.Rajavelu. K, Venkateswara, “Income Tax Theory, Law & Practice” –Educational Publications, New Delhi (Latest Edition) 2.N. Hariharan, “Income Tax Theory, Law & Practice” –Vijay Nicole imprints P Ltd ,Chennai, (Latest Edition) 3. Dinkar Pagare - “Business Taxation (Direct Taxes)” –Sultan Chand & Sons, New Delhi, (Latest Edition)
Text Book:
V.P. Gaur & D.B.Narang, Puja Ghai, Rajeev Puri, Kalyani, “Income Tax Law and Practice” –Kalyani publishers Delhi, (Latest Edition)