We have great pleasure in presenting Second edition “Income Tax Law and Practice – I” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Income Tax Law and Practice – I. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Module 1: Basic Concepts of Income Tax
Introduction, Meaning of Tax, Types of Taxes, Cannons of Taxation. Brief History of Indian Income Tax, Legal Framework of Taxation, Important Definitions, Assessment, Assessment Year, Previous Year including Exceptions, Assesses, Person, Income, Casual Income, Gross Total Income, Total Income, Agricultural Income, Scheme of Taxation, Exempted Incomes of Individuals under section 10 of the Income Tax Act, 1961.
Module 2: Residential Status and Incidence of Tax
Introduction, Residential Status of an Individual, Determination of Residential Status of an Individual, Incidence of Tax or Scope of Total Income, Problems on Computation of Gross Total Income of an Individual.
Module 3: Income from Salary
Introduction, Meaning of Salary, Basis of Charge Definitions, Salary, Perquisites, Profits in Lieu of Salary, Provident Fund, Transferred Balance. Retirement Benefits, Gratuity, Pension, Leave Salary, Deductions and Problems on Computation of Taxable Salary.
Module 4: Income from House Property
Introduction, Basis for Charge, Deemed Owners, House Property Incomes Exempt from Tax, Composite Rent, Unrealized Rent, Annual Value, Determination of Annual Value, Deductions from Annual Value, Problems on Computation of Income from House Property.
Module 5: Tax Deduction at Sources and Advance Tax Ruling
Introduction, Meaning of TDS, Provisions Regarding TDS, TDS to be Made from Salaries, Filing of Quarterly Statement, Theory and Problems, Advance Tax, Meaning of Advance Tax, Computation of Advance Tax, Instalment of Advance Tax, Due Dates, Deductions under Sections 80C, 80CCC, 80CCD, 80CCG, 80D, 80DD, 80DDB, 80E, 80G, 80GG, 80TTA and 80U as Applicable to Individuals.
Skill Developments Activities
Selected Questions with Answer
