1. Direct Taxes at a Glance:
Background of Taxation system in India;
Vital Statistics;
Layout; Administration.
2. Basic concepts of Income Tax:
An overview of Finance Bill;
Important definitions under Income Tax Act, 1961;
Distinction between Capital and Revenue Receipts and Expenditure;
Residential Status & Basis of Charge;
Scope of Total Income;
Tax Rates.
3. Incomes which do not form part of Total Income:
Incomes not included in Total Income;
Tax holidays.
4. Computation of Income under Various Heads:
Income from Salary;
Income from House Property;
Profit and Gains of Business or Profession;
Capital Gains;
Income from Other Sources;
Fair Market Value.
5. Clubbing provisions and Set Off and / or Carry Forward of Losses:
Income of other persons included in Assessee’s Total Income;
Aggregation of Income;
Set off and / or Carry forward of losses.
6. Deductions from Gross Total Income & Rebate and Relief:
Deductions in respect of certain payments;
Specific deductions in respect of certain income;
Deductions in respect for donations for expenditure under CSR activities;
Rebates and Reliefs.
7. Computation of Total Income and Tax Liability of various entities:
Individual;
Hindu Undivided Family ‘HUF’;
Alternate Minimum Tax (AMT);
Partnership Firm / LLP;
Co-operative Societies;
Association of Person ‘AOP’ and Body of Individual ‘BOI’;
Political Parties;
Electoral Trusts;
Exempt organization – Registration u/s 12A/ 12AA;
8. Classification and Tax Incidence on Companies:
Computation of taxable income and tax liability of Company;
Dividend Distribution Tax;
Minimum Alternate Tax ‘MAT’;
Other Special Provisions Relating to Companies;
Equalization Levy.
9. Procedural Compliance:
Permanent Account Number ‘PAN’ / Tax Collection Account Number ‘TAN’;
Tax Deduction at Source ‘TDS’ & Tax Collection at Source ‘TCS’;
Advance Tax &Self Assessment Tax ‘SAT’;
Returns, Signatures, E-Filing;
Fee and interest for default in furnishing return of Income;
Collection, Recovery of Tax, Refunds.
10. Assessment, Appeals & Revision:
Assessment; Types of Assessment;
Appeals;
Revisions;
Search, Seizure, Penalty and Offences.
Case Laws, Case Studies & Practical Aspects.
