DSC 3E: Taxation Unit-I: Basic concept: Income - agricultural income Person Assessee - assessment year - – – previous year - gross total income - total income - maximum marginal rate of tax -Residential status - Scope of total income on the basis of residential status - Exempted income under section. Unit-II: Computation of income under different heads: Salaries Allowances Perquisites Profit – – – in lieu of salary Gratuity Pension - Income from house property: Annual Value of House – – property Computation under different circumstances Deduction from annual value. – – Unit-III: Profits and gains of business or profession: Computation Allowable expenses and not – allowable expenses General deductions - Provisions relating to Depreciation. – Unit-IV: Capital gains: Capital Assets Long term and Short term Transfers Cost of – – – acquisition Cost of improvement Exempted Capital gains. Income from other sources: – – Definition - Computation Grossing up Deductions and other relevant provision. – – Unit-V: Total income and tax computation: Income of other persons included in Assesse's total income - Aggregation of income and set-off and carry forward of losses - Deductions from gross total income - Rebates and reliefs - Computation of total income of individuals and firms - Tax liability of an individual and firm. References: 1. K. Singhania : Direct Taxes - Law and Practice, Taxman Publication. 2. B.B. Lal: Direct Taxes, Konark Publisher (P) Ltd. 3. BhagwatiPrasad : Direct Taxes Law and Practice, WishwaPrakashan. – 4. Dr. Mehrotra and Goyal: Direct Taxes Law and Practice, Sahitya Bhavan Publication. – 5. DinakarPagare: Law and Practice of Income Tax, Sultan Chand and sons. 6. Gaur & Narang: Income Tax.
DSC 3E: Taxation Unit-I: Basic concept: Income - agricultural income – Person – Assessee - assessment year - previous year - gross total income - total income - maximum marginal rate of tax -Residential status - Scope of total income on the basis of residential status - Exempted income under section. Unit-II: Computation of income under different heads: Salaries – Allowances – Perquisites – Profit in lieu of salary – Gratuity – Pension - Income from house property: Annual Value of House property – Computation under different circumstances – Deduction from annual value. Unit-III: Profits and gains of business or profession: Computation – Allowable expenses and not allowable expenses – General deductions - Provisions relating to Depreciation. Unit-IV: Capital gains: Capital Assets – Long term and Short term – Transfers – Cost of acquisition – Cost of improvement – Exempted Capital gains. Income from other sources: Definition - Computation – Grossing up – Deductions and other relevant provision. Unit-V: Total income and tax computation: Income of other persons included in Assesse's total income - Aggregation of income and set-off and carry forward of losses - Deductions from gross total income - Rebates and reliefs - Computation of total income of individuals and firms - Tax liability of an individual and firm. References: 1. K. Singhania : Direct Taxes - Law and Practice, Taxman Publication. 2. B.B. Lal: Direct Taxes, Konark Publisher (P) Ltd. 3. BhagwatiPrasad : Direct Taxes – Law and Practice, WishwaPrakashan. 4. Dr. Mehrotra and Goyal: Direct Taxes – Law and Practice, Sahitya Bhavan Publication. 5. DinakarPagare: Law and Practice of Income Tax, Sultan Chand and sons. 6. Gaur & Narang: Income Tax.
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