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Semester III, DISCIPLINE SPECIFIC COURSE, INCOME TAX-I, LTP 4:1:0 6 HOURS PER WEEK, , Course Outcome:, , The core objectives of this subject is the students to impart knowledge of income, tax laws with application of cases pertaining to income from salary, house, property, business and profession and capital gains, , Pedagogy:, , e Introducing the background of the subject and related basic knowledge about, , reading and interpreting the Acts, through lecture mode, , e Explaining the Income Tax Act, 1961, Income Tax Rule 1962 along with the, , relevant Finance Act, through Lecture, Group discussion and seminars, ¢ Solving problems pertaining to individual heads of Income, e Arranging a special lecture by inviting a practicing CA, , UNIT-1- Brief History of Income Tax Act, Finance Act, Scheme of Income Tax, Basic, Concepts-Income, Assessee, person, Assessment year, Previous Year, Gross Total, Income, Total Income, Marginal rate of Tax—Agricultural Income-Residential, Status of individual, Incidence of Tax (including problems)- Incomes which do not, form part of Total Income U/S 10., , UNIT-2- Heads of Income: Income from Salary -features of salary incomeallowances, perquisites, provident fund, computation of Taxable salary income, , UNIT-3- Income from salary: Retirement benefits-Gratuity, Commutation of, Pension, Leave encashment- problems, , UNIT-4-Income from House Property: basis of charge-deemed ownershipexemptions determination of annual value-Deductions u/s 24-computation of, income from house property., , UNIT-5- Profits and gains of Business and profession (Individual Assessees)Expenses expressly allowable and inadmissible, General Deductions/ expenditures, u/s 37, losses, deemed profits, Method of accounting-computation of taxable, income from business. Computation of Income from profession in Case of, Advocates, Doctors, Chartered Accountant.