Introduction to Income Tax in India

Introduction

Tax planning is very much important for an assessee who is earning money and is liable to pay taxes on that income. A good tax planner can not only reduce the tax liability but also save the money and do the market transactions in a smooth and effortless manner. For this reason one has to gather essential knowledge about tax planning. This course has been prepared to discuss the basic concepts and provisions of Income Tax.

Objective

This course aims at providing the students with proper knowledge of Income Tax Provisions.The course will help the participants  to accquire good  knowledge about the various sections of the Income tax Act thereby enabling them to reduce their tax liabilities and to enjoy their investments in the market.

Benefits

People who are looking forward to build their career in the field of Income Tax Planner or who are new in the field of Tax Planning. After completion of the course, participants will have good foundation about income tax provisions.

Apart from this some other benefits are:

  • Personalized Learning
  • Step by step conceptual clarity
  • Step by step solution
  • Study at your Own Time, Own Place, Own Speed
  • Internet connection not required

Topics Covered

•    Introduction-Basic Concepts:

1.    Income
2.    Agricultural Income
3.    Person
4.    Assesse, Assessment Year, Previous Year
5.    Gross Total Income,Total Income
6.    Maximum Marginal Rate of Tax

•    Residential Status:

1.    Scope of Total Income on the basis of Residential Status

•    Income which is not part of Total Income:

1.    Exempted Income under Section 10

•    Income under the head “Salaries”:

1.    Computation of income under the head "Salaries"

•    Income under the head Income from "House Property"

1.    Computation of income under the head "House Property"

•    Income under the head "Profits and Gains of Business or Profession"

1.    Computation of income under the head "Profits and Gains of Business or Profession"

•    Income under the head "Capital Gains"

1.    Computation of income under the head "Capital Gains"

•    Income under the head "Income from Other Sources"

1.    Computation of income under the head "Income from Other Sources"

•    Clubbing of Income:
1.    Total Income and Tax computation
2.    Income of other persons included in assessee’s Total Income

•    Carry Forward and Set-offs:
1.    Aggregation of Income
2.    Set-off and Carry Forward of Losses

•    Deductions:
1.    Deductions from gross total income
2.    Rebates and Reliefs

•    Agricultural Income

•    Assessment of Individuals:
1.    Computation of Total income of the individuals
2.    Tax Liability of the individuals

•    Assessment of Firms:

1.    Computation of Total income of the Firms
2.    Tax Liability of the Firms


 

Intended Participants

Anyone who seeks to learn Financial Management in a comprehensive manner

  • MBA (Finance) students
  • Non finance managers
  • Candidates from any stream
  • Professionals
  • People willing to build their career in finance

Summary

  • 23 hrs 40 minutes of video content
  • 16 tests

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