This course will enable the students to acquire basic knowledge of income tax computation and regulations, covering key concepts such as taxable income under various heads, deductions, exemptions, and provisions for individuals. It enables understanding and application of tax laws to compute total income and tax liability accurately
Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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24EBS G315 |
Introduction To Income Tax (Theory) |
CO 97: Investigate the complete knowledge of basic concepts of income tax and construct residential status of a person CO98: Measure the income under the heads Salaries CO99: Compute the income under the head House Property and Business and Profession CO100: Evaluate the income under the heads capital gain and other sources CO101: Acquire knowledge regarding provisions of deemed income and set-off and carry forward of losses and assess the income of an individual after defining deductions U/S 80 CO102: Contribute effectively in course – specific interaction
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Approach in teaching: Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations
Learning activities for the students: Self-learning assignments, Case Study Analysis, Presentations, Group Discussions |
Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects. |
· Definitions Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income
Residential Status of an individual and Scope of Total Income
· Deemed Income
· Set off and carry forward of Losses
· Deductions from Gross Total Income: 80C, 80D, 80DD, 80DDB, 80E, 80EEB, 80G, 80TTA, 80TTB & 80U
Assessment of Individual
e-Resources:
Reference Journals:
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.