Direct Tax Laws and Practice
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
Plan for Internal Examination (30 Marks)
Graded MCQ - at Week 4 (20 questions) - 5 marks
Graded MCQ - at Week 8 (20 questions) - 5 marks
Graded MCQ - at Week 12 (20 questions) -5 marks
Graded MCQ - at Week 15 (20 questions) - 5 marks
Subjective Assessment at Week 7 - 5 marks
Subjective Assessment at Week 14 - 5 marks
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
Plan for Internal Examination (30 Marks)
Graded MCQ - at Week 4 (20 questions) - 5 marks
Graded MCQ - at Week 8 (20 questions) - 5 marks
Graded MCQ - at Week 12 (20 questions) -5 marks
Graded MCQ - at Week 15 (20 questions) - 5 marks
Subjective Assessment at Week 7 - 5 marks
Subjective Assessment at Week 14 - 5 marks
