Income Tax Law and Practice-I

Paper Code: 
BSG 311
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

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 OUTCOMES (COs):

Course

Learning outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG/BSG/FSG

/BSR/FSM/HRG

/IBG 311

Income Tax Law & Practices-I

CO83:Investigate the complete knowledge of basic concepts of income tax and provisions of agricultural income.

CO84:Construct residential status of a person.

CO 85: Measure the income under the head” Income from Salary”.

CO86:Calculate income under the head “Income from House Property”.

CO87: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

7.00
UNIT III: 
Computation of Taxable Income under the Head House Property
6.00
UNIT IV: 
Depreciation and Other Deductions
10.00
UNIT V: 
Computation of Taxable Income under the head Business and Profession
ESSENTIAL READINGS: 
  1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi
  2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya
  3. Income Tax- Agarwal, Jain, Sharma,Shah, Mangal ( Ramesh Book Depot)

 

6.00
Unit IV: 
UNIT IV

 

Depreciation and Other Deductions

UNIT IV: 
Depreciation and Other Deductions
10.00
UNIT V: 
Computation of Taxable Income under the head Business and Profession
ESSENTIAL READINGS: 
  1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi
  2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya
  3. Income Tax- Agarwal, Jain, Sharma,Shah, Mangal ( Ramesh Book Depot)

 

 

 

10.00
Unit V: 
UNIT V
 
Computation of Taxable Income under the head Business and Profession 
 

 

 

Essential Readings: 

 

  1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi
  2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya
  3. Income Tax- Agarwal, Jain, Sharma,Shah, Mangal ( Ramesh Book Depot)

 

  1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi
  2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya
  3. Income Tax- Agarwal, Jain, Sharma,Shah, Mangal ( Ramesh Book Depot)

 

References: 
  1. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
  2. Direct Tax Law and Practice- V.K Singhania  (Taxmann Publication, New Delhi)
  3. Law and Practice of IncomeTax, Mr Dinkar Pagare, (M/S Sultan Chand& Sons)
  4. Income Tax for Students-Sharad Bhargav, (Mashbara Industries)
  5. Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan)

 

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

 

 

Academic Year: 
2021-2022
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