Income Tax

Course Syllabus : for Income Tax

• Chapter 1: Introduction – Basic Concepts 6 Lectures 4 hrs 11 min
  • 01: Basic concepts, Meaning of Income Tax, Income Tax Act 1961, Define Income Tax Rule, Define Finance Bill, Rules of Income, Amendments meaning, Define Individual Persons, Define Hindu Undivided Family (HUF), Define Company, Define Firm, Define Association of Persons (AOP), Define Artificial Judicial Persons, Define Permanent Account Number (PAN), SL Examples, Solution of Practical Questions Preview38 min
  • 02: Golden Rule for Income Tax Calculation, Calculation of Income Tax, Meaning Previous year, Meaning of Assessment year, Define Assess, Scheme of taxation, Maximum amount which is not chargeable to Income Tax, Golden Concepts, Exceptions of Income Tax Rule, SL Examples, Solution of Practical Questions 42 min
  • 03: Rate of Income Tax for Assessment year, Surcharge Meaning, Education Cess, Higher Education Cess, Rebate, Quantum of Rebate, Definition of Marginal Relief, Steps for Computation of Total Income, Gross Total Income, Define Rounding Off Total Income, SL Examples, Solution of Practical Questions 48 min
  • 04: Golden Concepts for Computation of Tax Liability, Steps for solve questions, Calculation of Marginal Relief, SL Examples, Solution of Practical Questions 44 min
  • 05: Quick Revision of Concepts, Golden Hints for solution, Work on Number Line for Calculation of Tax Liability, SL Examples, Solution of Practical Questions 41 min
  • 06: Computation of Tax Payable, SL Examples, Solution of Practical Questions 38 min
• Chapter 2: Residential Status 6 Lectures 4 hrs 27 min
  • 01: Basic Concept, Residential Status Meaning, Define taxable entities, Define Normal Residents, Parts of Residential Status, Resident and Non Resident Meaning, Ordinary Resident, Non-Ordinary Resident, Define Resident Status for Individual, Basic Conditions Satisfied, Golden Concepts to Recognise Residential Status, Exceptions or Concession, Satisfied Additional Condition, SL Examples Preview41 min
  • 02: Quick Revision, Basic Rules for Determining residential status of an Assessee, Golden Hint for determine Residential Status, SL Examples, Solution of Practical Questions 35 min
  • 03: Basic Rules for Determining residential status of an Individual, Conditions to be satisfied for being an Ordinarily Resident in India, Conditions – In case of Resident but not Ordinarily Resident in India, SL Examples, Solution of Practical Questions 44 min
  • 04: Basic Rules for Determining residential status of a Hindu Undivided Family, Residential Status of Firm, Club, Trust, Conditions of Taxability for Different Persons, SL Examples, Solution of Practical Questions 48 min
  • 05: Basic Conditions for Income received in India and Accrue or Arise in India, Steps to solve Residential Status Questions, SL Examples, Solution of Practical Questions 49 min
  • 06: Find Residential Status, Find Taxable Income in case of OR, NOR, NR, Golden Hint for solution, SL Examples, Solution of Practical Questions 50 min
• Chapter 3: Income which do not Part of Total Income 1 Lectures 48 min
  • 01: Basic Concepts, Meaning of Agricultural Income, Sum received by a Member from HUF, Interest on Non-resident Account, Remuneration to persons who are not citizens of India, Leave Encashment, Allowances or perquisites from outside India, Amount received on voluntary retirement, Provident Fund, House Rent Allowances, Exemption in case of interest on Gold Deposits, Award or Reward, Pension received by certain awardees, Income of Local Authority, Income of minor clubbed in the hands of a parent, Dividend to be exempt in the hands of shareholders, SL Examples 48 min
• Chapter 4: Income Under the Head Salary 18 Lectures 12 hrs 58 min
  • 01: Basic Concepts, Meaning of Job, Meaning of Employer, Meaning of Employee, Salary – During Job, After Retirement – Retirement Benefits, Relationship Between Receiver and Payer, Golden concept by diagram, Control over the Method, Relationship between Employer and Employee, If there is no control over method, Principal to Principal Relationship, SL Examples Preview38 min
  • 02: Define which income is Taxable under the other sources, Golden Rule for Tax Salary, SL Example on Tax over salary, Learn Format of Computation of Taxable Salary, Allowances, Perquisites, Gross Salary, SL Examples, Solution of Practical Questions 38 min
  • 03: Define Retirement Benefits, Gratuity, Pension, Leave Salary, Retrenchment Compensation, Gratuity Meaning, Who Received Gratuity, Gratuity – covered and not covered, Computation for Gratuity Received by Other Employee, Format of Employee covered under Gratuity Act 1972, Meaning of salary, Dear Allowances, SL Examples, Solution of Practical Questions 41 min
  • 04: Golden Hint, Format of Employee not covered under Gratuity Act 1972, Meaning of Average Salary, Calculation of Average Salary, Calculation of Gross Salary, SL Examples, Solution of Practical Questions 45 min
  • 05: Computation of Taxable Gratuity, Computation of Gratuity Received from Earlier Employer, Computation of Salary for calculate Gratuity, SL Examples, Calculation of Gratuity Exempt, SL Examples, Solution of Practical Questions 48 min
  • 06: Pension Meaning, Uncommuted Pension, Commuted Pension, Rules of Commuted Pension and Uncommuted Pension, Rules of Pension – If Gratuity Received or If Gratuity is not Received, Calculation of Taxable Pension, Calculation of Commuted pension, Calculation of Gratuity, Solution of Practical Questions 50 min
  • 07: Meaning of Leave Salary, Leave Salary – During Job and After Retirement, Calculation of Leave Encashment, Calculation of Cash Equivalent of Unavailed Leave, SL Examples, Solution of Practical Questions 47 min
  • 08: Calculation of Leave Credit at the time of Retirement, Calculation of Leave Salary, Retirement Benefits – Gratuity, Pension, Leave Salary, Retrenchment Compensation Meaning, Calculation of Exempt Amount, Meaning of compensation of Voluntary Retirement, Define Treatment of Provident Fund, SL Examples, Solution of Practical Questions 45 min
  • 09: Meaning of Statutory Provident Fund, Meaning of Recognised Provident Fund, Meaning of Unrecognised PF, Meaning of Public PF, Table for Treatment of Provident Fund, Allowances Meaning, Fully Taxable Allowances, Dear Allowances, Specified Allowances, Types of allowances, SL Examples, Solution of Practical Questions 38 min
  • 10: House Rent Allowances Meaning, Computation of HRA exempted, Golden Hints for calculate HRA, Format of computation of Taxable HRA, Computation of Salary, SL Examples, Solution of Practical Questions 39 min
  • 11: Entertainment Allowances Meaning, Calculation of Entertainment Allowances, Allowances which are exempt in case of certain person, SL Examples, Solution of Practical Questions 42 min
  • 12: Conveyance Allowances, Transport Allowances, Uniform Allowances, Calculation of Entertainment Allowances, Perquisites Meaning, Meaning of Rent Free Accommodation, Unfurnished Accommodation, Furnished Accommodation, Meaning of Furniture, Value of RFA, Rules of RFA for Other Employee, Golden Hints for Salary, SL Examples, Solution of Practical Questions 40 min
  • 13: Calculation of Accommodation is provided by Employer to Employee, Golden Hints, Life Insurance Premium, Interest free loan or concessional loans, Value of Perquisites, SL Examples, Solution of Practical Questions 38 min
  • 14: Calculation of Interest on the basis of Product Method, Monetary obligation of the employee discharged by Employer, Value of Gift, voucher or token, Expenses on Credit Card, Club Membership, Use of Moveable Assets, Transfer of Moveable Assets, Treatment of any other benefits, Valuation of Motor Car/Other Vehicles, SL Examples, Solution of Practical Questions 44 min
  • 15: Vehicles hired by Employer, Concessional Educational Facility, Medical Facility, Free or Concessional Journey, Format of Computation of Gross Salary, Format of Computation of Taxable Income, Deductions of Salary, Deductions of Gross Total Income, SL Examples, Solution of Practical Questions 45 min
  • 16: SL Examples, Solution of Practical Questions 49 min
  • 17: SL Examples, Solution of Practical Questions 50 min
  • 18: SL Examples, Solution of Practical Questions 41 min
• Chapter 5: Income Under the Head House Property 10 Lectures 7 hrs 5 min
  • 01: Basic Concepts, Compute Rental Income from House Property, Property, Assessee must be owner of House property, Steps for Computation of Income under the head house property, Steps for Calculation of GAV, Golden Hints, SL Examples, Solution of Practical Questions 45 min
  • 02: Unrealised Rent, Standard Deduction, Interest on Borrowed capital, Recovery of unrealised rent, Situation of House Property, Interest on borrowed capital in different cases, Computation of Gross Annual Value, SL Examples, Solution of Practical Questions 42 min
  • 03: Calculation of Interest for Related Period, Calculation of Interest for Pre-construction Period, Calculation of Interest on Borrowed Capital, SL Examples, Solution of Practical Questions 41 min
  • 04: Deduction for Pre-construction Period, Deduction is allowed for 5 year, Calculation of Interest on borrowed capital for Pre-construction period, Calculation of Interest on borrowed capital for Related period, SL Examples, Solution of Practical Questions 46 min
  • 05: Calculation of Gross Annual Value, Golden Hint for solve Questions, SL Examples, Solution of Practical Questions 39 min
  • 06: Computation of Income of a Property which is self-occupied for residential purposes, SL Examples, Solution of Practical Questions 48 min
  • 07: Conditions - Where assessee has more than one house for self occupation, SL Examples, Solution of Practical Questions 38 min
  • 08: Computation of Income of house property which is partly let and partly self occupied, SL Examples, Solution of Practical Questions 35 min
  • 09: Property owned by Co-owners, Self Occupied and Deemed to be let out, SL Examples, Solution of Practical Questions 44 min
  • 10: House Property which is part of the year let and part of the year occupied for own residence, SL Examples, Solution of Practical Questions 47 min
• Chapter 6: Income Under the Head Profit and Gain From Business and Profession 5 Lectures 3 hrs 30 min
  • 01: Meaning of Profit and Gains of Business or Profession, Compute the Taxable Income under the head PGBP, Format of Profit & Loss Account, Format of Income & Expenditure Account, Steps for computation of income under the head PGBP, Rate of Depreciation, Quantum of deduction, SL Examples, Solution of Practical Questions 42 min
  • 02: Losses which are not deductible from business income, Cases where income from certain business is not taxable, Compute Investment Allowance Deduction, SL Examples, Solution of Practical Questions 45 min
  • 03: Expenses which are expressly allowed as deductions, Written down value for charging depreciation, Steps for computing depreciation, Cost of acquisition, SL Examples, Solution of Practical Questions 43 min
  • 04: Expenditure for obtaining licence to operate telecommunication services, Other Deductions, SL Examples, Solution of Practical Questions 38 min
  • 05: Compute Income from business, SL Examples, Solution of Practical Questions 42 min
• Chapter 7: Income Under the Head Capital Gain 10 Lectures 6 hrs 53 min
  • 01: Basic Concepts, Meaning of Capital Assets, Long Term, Short Term, Computation of Capital Gain, compute of Long Term Capital Gain, Computation of Short Term Capital Gain, Golden Hints, SL Examples 35 min
  • 02: Full Value of consideration, Indexed Cost of Acquisition, Indexed cost of Improvement, CII of the year, SL Examples, Solution of Practical Questions 37 min
  • 03: Computation of Capital Gain in certain cases, SL Examples, Solution of Practical Questions 38 min
  • 04: Tax on Short-term Capital Gain in case of Equity Shares, Computation of tax on long-term capital gain, SL Examples, Solution of Practical Questions 39 min
  • 05: Deductions in different sections, Define Exemption 54, Formula for Exemption, Some more exemption, SL Examples, Solution of Practical Questions 42 min
  • 06: Meaning of Foreign Exchange Assets, SL Examples, Solution of Practical Questions 44 min
  • 07: Situation when total income includes both short-term capital gain of nature referred to section, SL Examples, Solution of Practical Questions 46 min
  • 08: If full value of consideration is not invested then exemption, SL Examples, Solution of Practical Questions 49 min
  • 09: Deduction Exemption under section 54 F, Tax on Short Term Capital Gain, SL Examples, Solution of Practical Questions 43 min
  • 10: Rate of Tax, Tax on Long-term Capital Gain from listed securities, SL Examples, Solution of Practical Questions 40 min
• Chapter 8: Income Under the Head Other sources 7 Lectures 4 hrs 48 min
  • 01: List of Income – which included in Income under the head Other sources, Meaning of Dividend Income, Rate of Corporate Dividend Tax, Deduction for expenses from Dividend Income, Winning from lotteries, crossword puzzles, Golden Hint, Some Important Formula, SL Examples Solution of Practical Questions 35 min
  • 02: Meaning of Interest on Security, Types of Securities, Chargeability of Interest on securities, Golden Hints, Interest on Debentures, SL Examples Solution of Practical Questions 42 min
  • 03: Income from Letting out of Machinery and Plant, Define Gift – Money, Immovable Property and Other than Immovable Property, Golden Hints, SL Examples Solution of Practical Questions 41 min
  • 04: Define Meaning of Relatives, Property Meaning, Inadequate Consideration, way of inheritance, SL Examples Solution of Practical Questions 38 min
  • 05: Calculation of Interest on compensation, SL Examples, Solution of Practical Questions 42 min
  • 06: Share Premium in excess of FMV, Define Family Pension, Golden Hints, Calculate Income from Other Sources, SL Examples Solution of Practical Questions 48 min
  • 07: SL Examples Solution of Practical Questions 42 min
• Chapter 9: Clubbing of Income 2 Lectures 1 hrs 24 min
  • 01: Meaning of Clubbing of Income, Income of Other Persons Included in Assessee’s Total Income, Transfer of income where there is no transfer of assets, Meaning of Substantial Interest, How to compute salary, commission, fee or any other remuneration, Clubbing of Income of a minor child, Income from assets transferred to the spouse, SL Examples 39 min
  • 02: Where both husband and wife have substantial interest and both are getting remuneration from the concern, Certain incomes of minor child taxable in the hands of minor child only, Income from self-acquired property, Computation of Gross Total Income of Assessee, Solution of Practical Questions 45 min
• Chapter 10: Carry Forward and Set off 2 Lectures 1 hrs 20 min
  • 01: Basic concepts, Provisions for set off or carry forward and set off of losses, Set off of loss from one source against income from another sources under the same head of income, Carry forward of losses under the head ‘capital gains’, SL Examples, Solution of Practical Questions 45 min
  • 02: Set off of loss from one head against income from another head (Inter-head adjustment), Loss from a speculation business, Carry forward and set off of loss from house property, SL Examples, Solution of Practical Questions 35 min
• Chapter 11: Deductions 5 Lectures 3 hrs 25 min
  • 01: Basic Rules of deductions, Deductions on account of certain payments and investments, Deductions on account of certain incomes which are already included under Gross Total Income, SL Examples, Solution of Practical Questions 39 min
  • 02: Compute deduction allowed under section 80C, Deduction in respect of contribution to certain pension funds, Limit on deductions under section 80C, 80CCC and 80CCD, SL Examples, Solution of Practical Questions 45 min
  • 03: Deduction in respect of Medical Insurance Premium, Quantum of Deduction, Deduction in respect of Maintenance including medical treatment of a dependant person, SL Examples, Solution of Practical Questions 41 min
  • 04: Deduction for interest paid on loan taken for pursuing higher education, Deduction in respect of donations to certain funds, charitable institutions, Deductions in respect of rent paid, SL Examples, Solution of Practical Questions 38 min
  • 05: Deductions in respect of income of Co-operative Societies, Deduction in respect of royalty on patents, Deduction in respect of Interest on Deposits in savings account, SL Examples, Solution of Practical Questions 42 min
• Chapter 12: Agricultural Income 2 Lectures 1 hrs 24 min
  • 01: Definition of Agricultural Income, Income should be derived from land, Land should be situated in India, Land should be used for agricultural purposes, Income from nursery, Manufacturing of rubber, Manufacturing of tea, SL Examples, Solution of Practical Questions 39 min
  • 02: Any rent or revenue derived from land in India, Any income attributable to a farm house is treated as agricultural income, Define Agricultural Income and Non-Agricultural Income, Income which is partially agricultural and partially from business, SL Examples, Solution of Practical Questions 45 min
• Chapter 13: Assessment of Individual 3 Lectures 2 hrs 8 min
  • 01: Basic Concepts, An individual is liable to pay tax, Income earned by an individual himself, Income received as a member of an association of persons, Income received from firm/AOP/HUF, Steps for Computation of Total Income and Tax Liability, SL Examples, Solution of Practical Questions 42 min
  • 02: Rates of Income Tax for Assessment Year, Deduction at source and advance payment, Surcharge, Education Cess and SHEC, Quantum of rebate, SL Examples, Solution of Practical Questions 45 min
  • 03: Income from salary, Income from House Property, Income from Profession, Income from Other sources, Full-fledged Questions on calculation of Tax Liability, SL Examples, Solution of Practical Questions 41 min
• Chapter 14: Assessment of Hindu Undivided Family 2 Lectures 1 hrs 24 min
  • 01: Basic Concepts, Position of Firm under the Income-tax Act, Meaning of Assessment of Firm, Essential conditions to be satisfied by a firm to be assessed as firm, Computation of Total Income of Firm, SL Examples, Solution of Practical Questions 39 min
  • 02: Deduction allowable on account of remuneration and interest to the partners of the firm, Computation of Book Profit, Meaning of Adjusted Total Income, Treatment of share of Profit and Interest, SL Examples, Solution of Practical Questions 45 min
• Chapter 15: Assessment of Firm 4 Lectures 2 hrs 38 min
  • 01: Meaning of Deduction of Tax at sources, TDS/TCS, Computation of amount of tax to be deducted at source every month, Salary from more than one employer, Deduction of tax from Interest on Securities, SL Examples, Solution of Practical Questions 38 min
  • 02: Exemption from tax deduction, Deduction of tax from dividends, Rate of TDS, Winnings from horse races, Rate of TDS on Rent, SL Examples, Solution of Practical Questions 39 min
  • 03: Tax Deduction at Source on Transfer of certain immovable properties, Procedure of deposit of tax deducted at source, Income by way of interest from Indian Company, SL Examples, Solution of Practical Questions 41 min
  • 04: Manner of filing quarterly statement, Requirement to furnish permanent account number, SL Examples, Solution of Practical Questions 40 min
• Chapter 16: Deduction and Collection of Tax at Source 4 Lectures 2 hrs 52 min
  • 01: Meaning of Advance Payment of Tax, Conditions of Liability to pay Advance Tax, Steps for Computation and Payment of Advance Tax where the calculation is made by the assessee himself, SL Examples, Solution of Practical Questions 44 min
  • 02: Computation of tax by Assessing Officer, Instalments of advance tax and due dates, SL Examples, Solution of Practical Questions 41 min
  • 03: Compute the advance tax, Computation of Estimated Total Income, Payment of advance tax in case of capital gains or casual income, SL Examples, Solution of Practical Questions 42 min
  • 04: Estimated Tax Liability with LTCG, Interest for deferment of advance tax, Meaning of tax due on returned income, SL Examples, Solution of Practical Questions 45 min