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INCOME TAX LAW &PRACTICES II
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Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO124: Estimate the income under the head “Income from Capital Gain” & “Other Sources”. CO125: Acquire knowledge regarding provisions of set off and carry forward of losses along with deemed income. CO1236: Student will measure the total income of an individual after defining deductions U/S 80 C to 80 U. CO127: Student will compute tax liability of an individual. CO128: Devise the amendments made from time to time in Finance Act. |
Interactive Lectures, Discussion, Tutorials, Team teaching
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
Computation of taxable income under the head Capital Gain
Computation of Taxable Income under the head Income from Other Sources
Deemed Income
Set off and carry forward of Losses,
Deductions from Gross Total Income,
Tax Rates, Rebates and Reliefs, Assessment of Individual
Procedure of Assessment
· Filling of Return as Statutory Obligation,
· Timing of Filing of Return of Income,
· Defective of Incomplete Return, Belated Return of Income,
· Permanent Account Number (PAN), Signature on Return,
Types of Assesment, Introduction to TDS and Advance Payment of Tax
· Agarwal, Jain, Sharma, Shah, &MangalIncome Tax Ramesh Book Depot
· Patel, Chaudhary, Sharma, Modi &BardiaIncome Tax Chaudhary Prakashan
SUGGESTED READINGS:
· Ahuja, G.&Gupta , R. Professional Approach to Direct Taxes Bharat Law House Pvt Ltd, New Delhi
· Manoharan, T.N .Direct Tax LawsSnowwhite Publications P Ltd
· Singhania, V.K. Direct Tax Law and Practice Taxmann Publication, New Delhi
· Pagare,D.Law and Practice of IncomeTax M/S Sultan Chand& Sons
· Bhargav,S. Income Tax for Students, Mashbara Industries
· Mehrotra, H.C. Income Tax Law and AccountsSahityaBhawan
e RESOURCES:
· https://www.incometaxindia.gov.in/pages/tutorials.aspx
· https://www.taxmann.com/virtualbooks/product/6695 income tax act 2021 virtual book
JOURNALS:
· Tax World
· Indian Journal of Finance
· IUP Journal of Applied Finance
· The Indian Journal of Commerce
Note The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.
