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The purpose of this course is to introduce students to tax implications with particular focus on
the direct tax and individual tax, techniques used for their computation and various deduction
available to business for tax savings.


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G uearn what taxation is, exemptions, prescribed rate for taxation in individual and
corporate and various deduction available.
G uearn how to calculate taxable income of an individual.
G Œnderstand the concepts of tax planning for tax saving.


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The subject will be taught using a mixture of lectures to cover basic theory, and practical case
studies and examples covered in workshops/seminars and tutorials sessions. Tutorial will help
in the discussion of the various problems and models. Group presentations and Quiz will be
encouraged to explore alternatives.

 
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-- An Introduction; introduction, Salient R. K. Jain
features of income-tax,
 Objects of charging Income- tax, Process of V.K. Singhania
computing income-tax,
  ; Assessment Year, Previous year, Person, H.C. Mehrotra
 Assesssee; Deemed Assessee, Assessee in default,
  
 
; introduction, R. K. Jain
Partly agricultural Income
*     Ô
 ; Individual, Firm and R. K. Jain
Association of Persons

A Income from Salaries  V.K. Singhania

 Income from Salaries  V.K. Singhania
! Income from Salaries  H.C. Mehrotra
" Allowances H.C. Mehrotra
 Allowances
# H.C. Mehrotra
 Perquisites R. K. Jain
 Perquisites V.K. Singhania
 Income from Salaries (Retirement and Retrenchment) H.C. Mehrotra
 Assignment
* Income from House Property 

A Income from House Property R. K. Jain

   Profits and Gains of Business or Profession V.K. Singhania
! Capital Gains H.C. Mehrotra
" Income from other Sources R. K. Jain
# Deduction and Gross Total Income R. K. Jain
Assessment of Individuals (Computation of total
$ income)
 Computation of Tax liability of Individuals R. K. Jain
 Project Work
 Income tax authorities R. K. Jain
$ Procedures of Assessment Tax-Planning

* Group discussion

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-- An Introduction; introduction, Salient features of income-tax, Objects of
charging Income-tax, Process of computing income-tax,
&   ; Assessment Year,
Previous year, Person, Assesssee; Deemed Assessee, Assessee in default, Income, Features of Income,
Difference of total Income and Gross total income, Casual income  
 
;
introduction, Meaning of agricultural activities, Partly agricultural Income '

& 
   
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 ; Induvidual, Firm and Association of Persons

%Income from Salaries

Income from Salaries (Retirement and Retrenchment)

Income from House Property

% Profits and Gains of Business or Profession

Capital Gains, Income from other Sources, Clubbing of Income and Aggregation of Income

Set-off and Carry forward of losses

$%Deduction and Gross Total Income

Assessment of Individuals (Computation of total income)

Computation of Tax liability of Individuals

$: Income tax authorities, Procedures of Assessment, Tax-Planning

Assessment of Firms and Association of Persons

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V.K. Singhania Tax mann͛s Publication

R. K. Jain, Sahitya Bhawan Publication

H.C. Mehrotra