Important definitions in the Income –tax Act, 1961 – Basis of charge; Rates of taxes applicable for different types of assesses – Concepts of pervious year and assessment year – . Residential status and scope of total income; Income deemed to be received / deemed to accrue or arise in India – Incomes which do not form part of total income (U/S 10) Important definition in the

Unit II: Salary and House Property Inclusive Provisions – Reductions – Computation of Income .

Unit III: Income from Business or Profession Inclusive Provisions – Reductions – Computation of Income

Unit IV: Income from Capital Gains – Income from other sources Inclusive Provisions – Reductions – Computation of Income

Unit V: Set off or carry forward and Advance tax Income of other persons included in assesses total income – Aggregation of income; Set – off or carry forward and set off of losses – Deductions from gross total income – Computation of total income and tax payable; Rebates and relief’s – Provisions concerning advance tax and tax deducted at source.