- Teacher: Amrutha Raja
dealing with last modules
- Teacher: STEFFY MM
- Teacher: ATHIRA GKUMAR
Bc5 B09 Income Tax Law and Accounts
Lecture Hours per week: 5 Credits: 4 Internal: 20, External: 80 Objectives:
> To impart basic knowledge and equip students with application of principles and provisions Income - tax Act, 1961 amended up to date.
Module I
Basic Concepts: Income - Agricultural income - Person - Assessee - Assessment Year - Previous Year - Gross total income - Total income - Maximum marginal rate of lax - Residential status - Scope of total income on the basis of residential status –Exempted incomes.
10Hours
Module II
Computation of Income under Different Heads: Salaries - Allowances - Perquisites -Profit in lieu of salary - Gratuity – Pension. 20 Hours
Module III
Income from house property: Annual Value of House property - Computation under different circumstances - Deduction from annual value.
15Hours
Module IV
Profits and Gains of Business or Profession: Definition - Computation - Allowable expenses and non allowable expenses - General deductions - Provisions relating to Depreciation.
20 Hours
Module V
Capital Gains: Definition of Capital Assets - Long term and Short term - Transfers - Cost of acquisition - Cost of improvement - Exempted Capital gains. Income from Other Sources: Definition– Computation.
20 Hours (Theory and problems may be in the ratio of 40% and 60%respectjvely .Only simple problems are to be expected)
Reference Books:
1. Dr. Vinod K. Singhania : Direct Taxes - Law and Practice, Taxman publication.
2. Dr. Mehrotra and Dr. Goyal: Direct Taxes - Law and Practice, Sahitya Bhavan Publication.
3. B.B. Lai: Direct Taxes, Konark Publisher (P) ltd.
4. Bhagwathi Prasad : Direct Taxes - Law and Practice. Wishwa Prakashana.
5. Dinakar Pagare : Law and Practice of Income Tax. Sultan Chand and sons
6. Gaur & Narang : Income Tax.
- Teacher: Sneha PM
TO PROVIDE BASIC KNOWLEDGE ABOUT THE STRUCTURE, ORGANIZATION AND WORKING OF FINANCIAL SYSTEM IN INDIA.
- Teacher: STEFFY MM