INCOME TAX LAW & PRACTICES I

Paper Code: 
COM 301
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes(COs):

Course Outcomes

 

Learning and teaching strategies

Assessment Strategies

 
 

On completion of this course, the students will be able to:

CO 83: Investigate the complete knowledge of basic concepts of income tax and provisions of agricultural income.

CO 84: Construct residential status of a person.

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

CO 86: Calculate income under the head “Income from House Property”.

CO 87: Assess income under the head “Income from Business & Profession

Interactive Lectures, Discussion, Tutorials, Team teaching

 

 

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

 

 

7.00

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: Computation of Taxable Income Under the Head Salaries

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: 

ESSENTIAL READINGS:

  • Agarwal, Jain, Sharma, Shah,& Mangal Income Tax   Ramesh Book Depot
  • Patel, Chaudhary, Sharma, Modi, & Bardiya Income Tax  Chaudhary Prakashan

 

 

References: 

SUGGESTED READINGS:

  • Ahuja,G.& Gupta, R. Professional Approach to Direct Taxes   Bharat Law House Pvt Ltd, New Delhi
  • Manoharan, T.N. Direct Tax Laws   Snowwhite 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 Accounts  Sahitya Bhawan

 

e  RESOURCES:

 

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.

 

 

 

Academic Year: 
2022-2023
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