Important definitions in the income – tax Act, 1961– Basis of Charge; Rates of taxes applicable for different types of assesses- Concepts of previous year and assessment year- Residential status and scope of total income – Exempted Income.
Income from salary- Income from house property-Case study.
Income from Business or Profession.
Income from Capital Gains-Income from other sources-Case study.
Income of other persons included in assessing total income – Aggregation of Income; Set-off or carry forward and Set-Off losses-Deduction from Gross Total Income-Computation of Total Income and Tax payable.
Reference Book:
Dr.Vinod K.Singhania, Taxmen’s, Direct Taxed Law &Practice, Taxmann Publication (P) Ltd., New Delhi.Edition 1, 2012 Bhavagathyprasad. Law and Practice of Income Tax in India- Edition 1, 2000 Dr.H.C.Mehrotra. Income Tax law and accounts-(Sathiya Bhawan Publications) Edition 1, 2008
Text Book:
V.P. Gaur and D.B.Narang,Income Tax Law and Practice - (Kalyani Publishers) Edition 1 ,2009