Income Tax-I Book BBA 5th Semester KSHEC

Syllabus

Course Code: BBA5.2

Income Tax – I

Module No. 1: Basic Concepts of Income Tax                                                                       12

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 an Individual Under Section 10.

Module No. 2: Residential Status and Incidence of Tax                                                      10

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 No. 3: Income from Salary                                                                                         16

Introduction - Meaning of Salary -Basis of Charge Definitions–Salary, Perquisites and Profits in Lieu of Salary - Provident Fund –Transferred Balance. Retirement Benefits – Gratuity, Pension and Leave Salary. Deductions and Problems on Computation of Taxable Salary.

Module No. 4: Income from House Property                                                                         10

Introduction - Basis for Charge - Deemed Owners-House Property Incomes Exempt from Tax, Composite Rent and Unrealized Rent. Annual Value – Determination of Annual Value - Deductions from Annual Value - Problems on Computation of Income from House Property.                                                                                                                                          

Module No. 5: Tax Deduction at Sources & Advance Tax Ruling                                    08

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 and Due Dates.

Deductions Under Section 80C, 80CCC, 80CCD, 80CCG, 80D, 80DD, 80DDB, 80E, 80G, 80GG, 80TTA and 80U as Applicable to Individuals under Old Regime. (Individuals Only).