Concept of Tax- Nature and characteristics of taxes
Distinction between tax and fee, tax and cess
Direct and Indirect taxes- Tax evasion and tax avoidance
Scope of taxing powers of Parliament, State Legislatures and Local bodies.
The Income Tax Act:
Basis of taxation of Income
Incomes exempted from tax
Income from salaries- Income from house property
Income from business or profession and vocation
Income from other sources
Taxation of individuals, HUF, firms, association of persons, Co-operative Societies and Non-Residents.