COURSE LAYOUT
Week 1
Basic Concepts and Definitions - Income Tax Act, 1961 1.1 Tax evasion, tax avoidance, tax planning/ management 1.2 Background, Concept and Mechanism of Income Tax 1.3 Definitions, Concept of Income, assessee, Previous Year, Assessment Year 1.4 Basis of Charge 1.5 Scope of Total Income
Week 2
Residential Status and Incomes Exempt from Tax 2.1 Residential Status and incidence of tax 2.2 Incomes Exempt from Tax
Week 3
Income from Salaries 3.1 Basis of Charge of Income from Salaries 3.2 Allowances 3.3 Perquisites 3.4 Computation of Income from Salary
Week 4
Income from House Property 4.1 Basis of Charge of Income from House Property 4.2 Gross Annual Value 4.3 Deductions under Section 24 4.4 Computation of Income from House Property
Week 5
Profits and Gains of Business or Profession 5.1 Basis of Charge of Profits and Gains of Business or Profession 5.2 General Principles Governing income from business 5.3 Deductions under Section 30 to 44DB 5.4 Computation of Profits and Gains of Business or Profession
Week 6
Capital Gains 6.1 Basis of Charge of Capital Gains 6.2 Concept of Capital Asset 6.3 Capital gains exempt from tax and allowable deductions 6.4 Computation of Short term and Long term capital gains
Week 7
Income from Other Sources 7.1 Basis of Charge of Income from Other Sources 7.2 Dividend, Interest on Securities 7.3 Deductions 7.4 Computation of Income from Other Sources
Week 8
Deductions from Gross Total Income 8.1 Essential Rules governing deductions 8.2 Deductions under Sections 80C to 80U
Week 9
Clubbing of Income and Set off & Carry Forward of Losses 9.1 Income of other persons included in Assesse’s Total Income 9.2 Set off and Carry Forward of Losses
Week 10
Return of Income and Assessment 10.1 Filing of Returns 10.2 Assessment
Week 11
Advance Payment of Tax and Tax Deduction/Collection at Source 11.1 Advance Payment of Tax 11.2 Tax Deduction at Source 11.3 Tax Collection at Source
Week 12
Computation of Taxable Income of Individuals 12.1 Tax Incidence on Individuals 12.2 Computation of Taxable Income and Tax Liability of individuals.
Week 13
Computation of Taxable Income of Companies 13.1 Computation of Taxable Income and Tax Liability of Companies 13.2 Minimum Alternate Tax
Week 14
Appeals and Revisions 14.1 Income tax authorities 14.2 Appellate hierarchy 14.3 Revisions
Week 15
Tax Planning 15.1 Setting up of a new business 15.2 Specific Managerial decisions
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