INCOME TAX LAW- I Book B.Com 3rd Semester KUK/CRSU

Unit

Title and Contents

Contact Hours

I

Income Tax: Concepts - Assesse, Person, Previous Year, Assessment Year, Gross Total Income, Total Income, Casual Income, Virtual Digital Asset; Role of PAN and Aadhar Number in Income Tax; Maximum Marginal Rate of Tax; Alternate Minimum Tax; Agricultural Income; Tax Evasion, Tax Avoidance, Tax Planning and Tax Management.

12

II

Computation of Incomes Based on Residential Status of Individuals, HUFs, Company and other Persons; Determining Incomes Taxable and Exempt under the Head Salaries (Including Retirement Benefits and Provisions) and Income from House Property.

19

III

Computation of Taxable Incomes and Exemptions under the Head Profits and Gains of Business or Profession (Including Depreciation Provisions), Capital Gains.

16

IV

Income from other Sources; Clubbing and Aggregation of Incomes; Set Off and Carry Forward of Losses; Exempted Incomes.

13