Income Tax Law and Practices-I

Paper Code: 
COM 301
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.


CO 79: Investigate the complete knowledge of basic concepts of income tax and provisions of agricultural income.
CO 80: Construct residential status of a person.
CO 81: Measure the income under the head “Income from Salary”.
CO 82: Calculate income under the head “Income from House Property”.
CO 83: Assess income under the head “Income from Business & Profession”.

7.00
Unit I: 
Unit 1

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 2

Computation of Taxable Income Under the Head Salaries.

 

 

7.00
Unit III: 
Unit 3

Computation of Taxable Income under the Head House Property

6.00
Unit IV: 
Unit 4

Depreciation and Other Deductions

10.00
Unit V: 
Unit 5

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 ,Choudhary, Sharma, Modi, Bardiya (Choudhary Prakashan)
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)

Academic Year: 
2021-2022
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