COURSE TITLE INCOME TAX ±LAW AND PRACTICE
COURSE CODE 04BB0403
COURSE CREDITS 4
Course Outcomes: After completion of this course, student will be able to:
1 Understand the residential status and tax incidence based on it
2 Calculate income under all the five heads of Income
3 Gain knowledge regarding the exempt income
4 Gain knowledge regarding the deductions from total income
5 Calculate tax payable on taxable income
6 Understand the concept of tax deduction and tax collected at source
Pre-requisite of course:NONE
Teaching and Examination Scheme
Theory Tutorial Practical ESE IA CSE Viva Term
Hours Hours Hours Work
4 50 30 20 0 0
Contents : Contact
Topics
Unit Hours
1 Introduction 5
Levy of income tax, Rates of tax & slab, Important Definitions,
Relevance and significance of residential status, Types of residential
status and its Determination, Incidence of tax based on residential
status, Income which do not form part of total income, Conditions to
be satisfied for availing exemptions
2 Income under Salary and House Property 15
Definition, Chargeability, Treatment of various allowances under
salary, Perquisites and their valuation, Deductions from gross
salary, retirement benefits, provisions regarding provident fund,
Computation of taxable salary (sums), Chargeability, composite
rent, annual value and its determination under house property,
Deductions from annual value, Deemed ownership, Computation of
income taxable under house property (sums)
3 Income under Business and Profession and Capital Gains 16
Meaning, chargeability, Allowable expenses, expressly disallowed
expenses, Deemed profits and income, Computations of income
taxable from business and profession (sums), Chargeability, Capital
asset, Transfer, Short term and long term capital asset, Short term
and Long term capital gain, Exemptions from long term capital
gain, Computation of capital gain (sums)
DR. SRINIVASA RAO MEDA DR. SUNIL KUMAR JAKHORIA
Digitally signed by (Name of HOD) Digitally signed by (Name of Dean/ Principal)
Contents : Contact
Topics
Unit Hours
4 Income from other sources and Deductions 8
Incomes taxable under other source, Deductions allowed,
inadmissible deductions from other source, Computation of income
taxable under other sources (sums), Chapter VI-A deductions from
gross total income [Section 80C to 80U]
5 Tax Payable, TDS and Advance Tax 4
Calculation of taxable income and tax payable, Deduction of tax at
source [sections applicable to individual], Concept of tax collected
at source, Liability for payment of advance tax and due dates
Total Hours 48
Textbook :
1 Students¶guide to Income Tax (University Edition), Dr. V. K. Singhania and Dr. Monica
Singhania, Taxmann, 2022
2 Direct Tax Law and Practice, Dr. Girish Ahuja and Dr. Ravi Gupta, Bharat Publication,
2022
3 Direct Tax Laws, CA. T. N. Manoharan, Snow White Publication, 2022
References:
1 Practical Approach to Tax Laws and Practice, Practical Approach to Tax Laws and
Practice, Dr. Girish Ahuja and Dr. Ravi Gupta, Bharat Publication, 2022
2 Students¶guide to Income Tax, Students¶guide to Income Tax, Dr. V. K. Singhania and Dr.
Monica Singhania, Taxmann, 2022
3 Income tax Law and practice, Income tax Law and practice, Gaur, V. P. & Narang, B. K.,
Kalyani Publishers, New Delhi, 2022
4 Income tax Law and practice, Income tax Law and practice, Prasad, B., New Age
Publications, 2022
5 Direct tax, Direct tax, B.B. Lal and N. Vashisht, I. K. International Publishing House, 2022
Suggested Theory Distribution:
The suggested theory distribution as per Bloom¶s taxonomy is as follows. This distribution
serves as guidelines for teachers and students to achieve effective teaching-learning process
Distribution of Theory for course delivery and evaluation
Remember / Understand Apply Analyze Evaluate Higher order
Knowledge Thinking /
Creative
20.00 30.00 25.00 15.00 10.00 0.00
Instructional Method:
1 Theory
DR. SRINIVASA RAO MEDA DR. SUNIL KUMAR JAKHORIA
Digitally signed by (Name of HOD) Digitally signed by (Name of Dean/ Principal)
Supplementary Resources:
1 https://resource.cdn.icai.org/61996bos50392cp1.pdf
2 https://resource.cdn.icai.org/61997bos50392cp2.pdf
3 https://resource.cdn.icai.org/62000bos50392cp4u2.pdf
4 https://resource.cdn.icai.org/61999bos50392cp4u1.pdf
5 https://www.taxmann.com/TaxCalc/taxcalc.aspx
6 https://www.taxmann.com/compliance-etds
DR. SRINIVASA RAO MEDA DR. SUNIL KUMAR JAKHORIA
Digitally signed by (Name of HOD) Digitally signed by (Name of Dean/ Principal)
