Income Tax Law & Practices

Paper Code: 
HRG 411
Credits: 
03
Contact Hours: 
3.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

The objective of this course is to gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of an individual under various heads of Income.

Course Outcome (COs):

Course

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

HRG 411

Income Tax Law & Practices-II
  1. Able to compute income under the head “Income from Capital Gain” & “Other Sources”.
  2. Acquire knowledge regarding provisions of set-off and carry forward of losses along with deemed income.
  3. Able to compute total income of an individual after defining  deductions U/S 80 C to 80 U.
  4. Able to compute tax liability of an individual.
  5. Able to understand amendments made from  time to time in Finance Act.

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Team teaching

 Learning activities for the students:

Self learning assignments, Effective questions, Seminar presentation, Giving tasks.

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

10.00
Unit I: 
Income

Computation of taxable income under the head Capital Gain 

10.00
Unit II: 
Computation of Taxable Income

Computation of Taxable Income under the head Income from Other Sources

Deemed Income

10.00
Unit III: 
Gross Total Income

Set off and carry forward of Losses,

Deductions from Gross Total Income, 

10.00
Unit IV: 
Tax Rates,

Tax Rates, Rebates and Reliefs, Assessment of Individual

 

5.00
Unit V: 
Procedure of Assessment

 

·        Filling of Return as Statutory Obligation,

·         Timing of Filing of Return of Income,

·        Defective of Incomplete Return, Belated Return of Income,

·         Permanent Account Number (PAN), Signature on Return,

 Types of Assesment, Introduction to TDS and Advance Payment of Tax

Essential Readings: 
  • Gupta, C. B., Business Organization, S.Chand, NewDelhi
  • Weihrich, Heinz and Koontz, Harold, Essentials of Management, McGraw Hill, New York
  • Drucker, Peter Ferdinand, Management Challenges for 21st Century, Harper Collins, USA.
  • Luthans, Fred, Organization Behaviour, McGraw Hill, New York
  • Allen, Louis A., Management and Organization, McGraw Hill, New York
  • Ansoff, H., The New Corporate Strategy, Wiley.
  • Hampton, David R., Modern Management, McGraw-Hill

 

 

Academic Year: 
2020-2021
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