Income Tax Law & Practices-I

Paper Code: 
COM 301
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

The objective of this course is to gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of an individual under various heads of Income

 

Course Outcome(COs):

Course

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

COM 301

Income Tax Law & Practices-I

CO 74: Investigate the complete knowledge of basic concepts of income tax and provisions of agricultural income.

 

CO 76: Construct residential status of a person.

 

CO 77: Measure the income under the head” Income from Salary”.

 

CO 78: Calculate income under the head “Income from House Property”.

CO 79: Assess income under the head “Income from Business & Profession”.

 

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Team teaching

 Learning activities for the students:

Self-learning assignments, Effective questions, Seminar presentation, Giving tasks.

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

7.00
Unit I: 
UNIT I

Definitions- Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income, Residential Status and Scope of Total Income

15.00
Unit II: 
UNIT II

Computation of Taxable Income Under the Head Salaries

7.00
Unit III: 
UNIT III

Computation of Taxable Income under the Head House Property

6.00
Unit IV: 
UNIT IV

Depreciation and Other Deductions

10.00
Unit V: 
UNIT V

Computation of Taxable Income under the head Business and Profession

Essential Readings: 

• Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
• Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya
• Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot)
• Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
• Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
• Law and Practice of IncomeTax, MrDinkar Pagare, (M/S Sultan Chand& Sons)
• Income Tax for Students-Sharad Bhargav, (Mashbara Industries)
• Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)

Academic Year: 
2021-2022
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