Objective: The Objective of the syllabus this paper is to expose the students to the various important provisions of Income Tax Act relating to computation of Income of individual. Module 1: Introduction – 5 Hrs Brief history of Income Tax Legal Frame work Cannons of Taxation Finance – – – Bill Scheme of Income Tax- Meaning of Assessee Person Assessment year – – – – Previous year Income Gross Total Income Total Income- Residential Status – – – and Incidence of Tax on individual. Module-2: Income from Salary 16 Hrs Income from Salary Features of Salary Income Basic Salary- Allowance - – – Types Perquisites Types section 89(1) Tax Rebate U/S 88 - Problems. – – – (Restricted to Individual Assessee) fully exempted and partly exempted incomes – including problems on House Rent Allowance Leave Encashment Commutation of – – Pension Death-cum-Retirement benefits Gratuity compensation received on – – – termination of the service. Module-3: Income from House Property 8 Hrs Introduction Annual value under different situations (self occupied Let out – – – Partly self occupied partly let out Portion wise and time wise) Deductions (u/s – – 24) Problems. –
Objective: The Objective of the syllabus this paper is to expose the students to the various important provisions of Income Tax Act relating to computation of Income of individual. Module – 1: Introduction 5 Hrs Brief history of Income Tax – Legal Frame work – Cannons of Taxation – Finance Bill – Scheme of Income Tax- Meaning of Assessee – Person – Assessment year – Previous year – Income – Gross Total Income – Total Income- Residential Status and Incidence of Tax on individual. Module-2: Income from Salary 16 Hrs Income from Salary – Features of Salary Income – Basic Salary- Allowance - Types – Perquisites – Types section 89(1) – Tax Rebate U/S 88 - Problems. (Restricted to Individual Assessee) fully exempted and partly exempted incomes – including problems on House Rent Allowance – Leave Encashment – Commutation of Pension – Death-cum-Retirement benefits – Gratuity – compensation received on termination of the service. Module-3: Income from House Property 8 Hrs Introduction – Annual value under different situations (self occupied – Let out – Partly self occupied partly let out – Portion wise and time wise) – Deductions (u/s 24) – Problems.