Income Tax Study Material
Unit 1: INTRODUCTION TO INCOME TAX 10 Hrs
Brief History of Indian Income Tax – Legal Frame Work – Types of Taxes – Cannons of Taxation – Important Definitions: Assessment, Assessment Year, Previous Year (including Exceptions), Assessee, Person, Income, Casual Income, Gross Total Income, Agricultural Income (including Scheme of Partial Integration – Theory Only) – Scheme of taxation. Meaning and classification of Capital & Revenue. Income tax authorities: Powers & functions of CBDT, CIT & A.O.
Unit 2: EXEMPTED INCOMES 04 Hrs
Introduction – Exempted Incomes U/S 10 – Restricted to Individual Assessee.
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Unit 2: RESIDENTIAL STATUS 10 Hrs
Residential Status of an Individual –Determination of Residential Status – Incidence of Tax – Problems.
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Unit 4: INCOME FROM SALARY 20 Hrs
Meaning – Definition – Basis of Charge– Advance Salary – Arrears of Salary – Allowances – Perquisites– Provident Fund – Profits in Lieu of Salary – Gratuity -Commutation of Pension – Encashment of Earned leave – Compensation for voluntary retirement – Deductions from Salary U/S 16 – Problems on Income from Salary.
Unit 5: INCOME FROM HOUSE PROPERTY 12 Hrs
Basis of Charge – Deemed Owners – Exempted Incomes from House Property –Composite Rent – Annual Value – Determination of Annual Value – Treatment of Unrealized Rent – Loss due to Vacancy – Deductions from Annual Value – Problems on Income from House Property.
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