Income Tax

Course Syllabus : for Income Tax

• Chapter 1: Introduction – Basic Concepts 7 Lectures 4 hrs 53 min
  • 01: Meaning of Income Tax, Basic Terms - Individual Persons, Hindu Undivided Family (HUF), Association of Persons (AOP), Artificial Judicial Persons, Permanent Account Number (PAN), Solution of Practical Questions Preview38 min
  • 02: Golden Rule, Meaning of Previous year and Assessment year, Define Assessee, Scheme of taxation, Golden Concepts, Solution of Practical Questions 42 min
  • 03: Exceptions of Income Tax Rule, Rate of Income Tax for Assessment year, Amendments meaning, Solution of Practical Questions 48 min
  • 04: Surcharge Meaning, Education Cess, Steps for Computation of Total Income, Define Rounding Off Total Income, Solution of Practical Questions 44 min
  • 05: Golden Concepts for Computation of Tax Liability, Steps for solve questions, Calculation of Marginal Relief, Solution of Practical Questions 41 min
  • 06: Golden Hints, Work on Number Line for Calculation of Tax Liability, Solution of Practical Questions 38 min
  • 07: Rules of Income Tax, Computation of Tax Payable, Solution of Practical Questions 42 min
• Chapter 2: Residential Status 7 Lectures 5 hrs 12 min
  • 01: Residential Status Meaning, Normal Residents, Resident and Non Resident Meaning, Ordinary Resident, Non-Ordinary Resident, Golden Concepts Preview41 min
  • 02: Basic Rules for Determining residential status of an Assessee, Satisfied Basic Condition, Satisfied Additional Condition, 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, Solution of Practical Questions 44 min
  • 04: Conditions – In case of Resident but not Ordinarily Resident in India, Solution of Practical Questions 45 min
  • 05: Basic Rules for Determining residential status of a Hindu Undivided Family and Residential Status of Firm, Conditions of Taxability, Solution of Practical Questions 48 min
  • 06: Basic Conditions for Income received in India and Accrue or Arise in India, Steps to solve Residential Status Questions, Solution of Practical Questions 49 min
  • 07: Find Residential Status, Find Taxable Income in case of OR, NOR, NR, Golden Hint, Solution of Practical Questions 50 min
• Chapter 3: Income which do not Part of Total Income 2 Lectures 1 hrs 33 min
  • 01: Meaning of Agricultural Income, Definition - Sum received by a Member from HUF, Interest on Non-resident Account, Remuneration to persons, Income of Local Authority, Income of minor, Dividend to be exempt, Award or Reward, SL Examples 48 min
  • 02: Leave Encashment, Allowances or perquisites from outside India, Amount received on voluntary retirement, Provident Fund, Exemption in case of interest on Gold Deposits, Pension received by certain awardees, SL Examples 45 min
• Chapter 4: Income Under the Head Salary 19 Lectures 13 hrs 43 min
  • 01: Meaning - Job, Salary, Employer, Employee, Retirement Benefits, Gratuity, Pension, Leave Salary, Perquisites, Dear Allowances, Golden concept, SL Examples Preview38 min
  • 02: Format of Computation of Taxable Salary, Computation of Taxable Gratuity, Golden Rule, Gratuity – covered and not covered, Solution of Practical Questions 38 min
  • 03: Computation for Gratuity Received, Format of Employee covered under Gratuity Act 1972, Calculation of Average Salary, Solution of Practical Questions 41 min
  • 04: Golden Hint, Format of Employee not covered under Gratuity Act 1972, Calculation of Gross Salary, Solution of Practical Questions 45 min
  • 05: Computation of Gratuity Received from Earlier Employer, Computation of Salary for calculate Gratuity, Calculation of Gratuity Exempt, Solution of Practical Questions 48 min
  • 06: Rules of Commuted Pension and Uncommuted Pension, If Gratuity Received or If Gratuity is not Received, Calculation of Gratuity, Solution of Practical Questions 50 min
  • 07: Calculation of Taxable Pension, Calculation of Commuted pension & Uncommuted pension, Calculation of Gratuity, Solution of Practical Questions 45 min
  • 08: Calculation of Leave Salary, Calculation of Leave Encashment, Calculation of Cash Equivalent of Unavailed Leave, Solution of Practical Questions 47 min
  • 09: Calculation of Leave Credit at the time of Retirement, Calculation of Leave Salary, Calculation of Exempt Amount, Solution of Practical Questions 45 min
  • 10: Table for Treatment of Provident Fund, Fully Taxable Allowances, Types of allowances, House Rent Allowances Meaning, Solution of Practical Questions 38 min
  • 11: Computation of HRA exempted, Golden Hint, Format of computation of Taxable HRA, Computation of Salary, Solution of Practical Questions 39 min
  • 12: Computation of Salary, Computation of Taxable HRA, Value of Perquisites, Solution of Practical Questions 42 min
  • 13: Calculation of Entertainment Allowances, Perquisites Meaning, Meaning of Rent Free Accommodation, Value of RFA, Solution of Practical Questions 40 min
  • 14: Calculation of Accommodation, Rules of RFA for Other Employee, Value of Perquisites, Value of Gifted Items, Solution of Practical Questions 38 min
  • 15: Calculation of Interest on basis of Product Method, Treatment of any other benefits, Valuation of Motor Car/Other Vehicles, Solution of Practical Questions 44 min
  • 16: Format of Computation of Gross Salary, Format of Computation of Taxable Income, Deductions of Gross Total Income, Solution of Practical Questions 45 min
  • 17: Computation of Gross Salary, Computation of Taxable Income, Deductions of Gross Total Income, Solution of Practical Questions 49 min
  • 18: Computation of Gross Salary, Computation of Taxable Income, Deductions of Gross Total Income, Solution of Practical Questions 50 min
  • 19: Computation of Gross Salary, Computation of Taxable Income, Deductions of Gross Total Income, 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, Steps for Compute of Income under the head house property, Solution of Practical Questions 45 min
  • 02: Steps for Calculation of GAV, Interest on Borrowed capital, Interest on borrowed capital in different cases, Standard Deduction, 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, Solution of Practical Questions 41 min
  • 04: Concept of Deduction for Pre-construction Period, Calculation of Interest on borrowed capital for Pre-construction period, Solution of Practical Questions 46 min
  • 05: Calculation of Gross Annual Value, Golden Hint, Calculation of Interest on borrowed capital for Related period, 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, Compute of Income under the head house property, Solution of Practical Questions 38 min
  • 08: Calculation of Gross Annual Value, Computation of Income of house property which is partly let and partly self occupied, Solution of Practical Questions 35 min
  • 09: Property owned by Co-owners, Self Occupied and Deemed to be let out, Compute of Income under the head house property, 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, Solution of Practical Questions 47 min
• Chapter 6: Income Under the Head Profit and Gain From Business and Profession 6 Lectures 4 hrs 12 min
  • 01: Basic Concepts on PGBP, Compute the Taxable Income under the head PGBP, Prepare Profit & Loss Account, Solution of Practical Questions 42 min
  • 02: Prepare Income & Expenditure Account, Steps for computation of income under the head PGBP, Quantum of deduction, Solution of Practical Questions 45 min
  • 03: Define Expenses which are expressly allowed as deductions, Written down value for charging depreciation, Rate of Depreciation, Solution of Practical Questions 43 min
  • 04: Compute depreciation, Cost of acquisition, Prepare Profit & Loss A/c, Compute the Taxable Income under the head PGBP, Solution of Practical Questions 38 min
  • 05: Cases where income from certain business is not taxable, Compute the Taxable Income under the head PGBP, Solution of Practical Questions 42 min
  • 06: Define Losses which are not deductible from business income, Calculate Depreciation, Compute Income from business, Solution of Practical Questions 42 min
• Chapter 7: Income Under the Head Capital Gain 10 Lectures 6 hrs 53 min
  • 01: Basic Concepts, Computation of Capital Gain, Compute of Long Term Capital Gain, Computation of Short Term Capital Gain, Golden Hint, SL Examples 35 min
  • 02: Full Value of consideration, Indexed Cost of Acquisition, Indexed Cost of Improvement, CII of the year, Solution of Practical Questions 37 min
  • 03: Computation of Capital Gain in certain cases, 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, Solution of Practical Questions 39 min
  • 05: Deductions in different sections, Define Exemption, Formula for Exemption, Some exemption, Computation of Capital Gain, Solution of Practical Questions 42 min
  • 06: Meaning of Foreign Exchange Assets, Computation of Capital Gain, Solution of Practical Questions 44 min
  • 07: Situation when total income includes both short-term capital gain of nature referred to section, Computation of Capital Gain, Solution of Practical Questions 46 min
  • 08: If full value of consideration is not invested then exemption, Computation of Capital Gain, Solution of Practical Questions 49 min
  • 09: Deduction Exemption, Tax on Short Term Capital Gain, Computation of Capital Gain, Solution of Practical Questions 43 min
  • 10: Rate of Tax, Tax on Long-term Capital Gain from listed securities, Computation of Capital Gain, 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, Deduction for expenses from Dividend Income, Solution of Practical Questions 35 min
  • 02: Important Formula, Chargeability of Interest on securities, Golden Hints, Interest on Debentures, Solution of Practical Questions 42 min
  • 03: Define Gift – Money, Immovable Property and Other than Immovable Property, Calculate Income from Other Sources, Solution of Practical Questions 41 min
  • 04: Meaning of Relatives, Rate of Corporate Dividend Tax, Calculate Income from Other Sources, Solution of Practical Questions 38 min
  • 05: Calculation of Interest on compensation, Income from Letting out of Machinery and Plant, Calculate Income from Other Sources, Solution of Practical Questions 42 min
  • 06: Share Premium in excess of FMV, Define Family Pension, Golden Hints, Calculate Income from Other Sources, Solution of Practical Questions 48 min
  • 07: Calculate Income from Other Sources, 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, Meaning of Substantial Interest, How to compute salary, commission, fee or any other remuneration, SL Examples 39 min
  • 02: Clubbing of Income of a minor child, Income from assets transferred to the spouse, 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