Module-I: Historical Perspective and Introduction Unit-1: History of Taxation in brief Unit-2: Meaning of Tax a. Types of Tax b. Difference between Direct Tax and Indirect Tax c. Difference between Tax and Fee d. Characteristics of Tax and Fee Unit-3: Canons of Taxation and Characteristics of a Good Tax System Unit-4: Taxation under the Indian Constitution
Module-II: Total Income and Residential Status Unit-1: Important Definitions a. Previous Year g. Agricultural Income b. Assessment Year h. Business c. Income Tax i. Capital Asset d. Assessee j. Total Income e. Person k. Company
Unit-2: Residential Status of Assessee Unit-3: Scope of Total Income Unit-4: Income Exempt from Tax Unit-5: Concept of Advance Tax
Module-III: Income from Salaries Unit-1: Meaning and Characteristics of Salary Unit-2: Relationship of Employer and Employee Unit-3: Income from Office not amounting to Employment Unit-4: Incomes Forming Part of Salary (a. Basic Salary b. Fees, Comission and Bonus c. Taxable Value of Allowances d. Taxable Value of Perquisites e. Retirement Benefit) Unit-5: Deductions from Gross Salary (Section 16) Unit-6: Computation of Income from Salary
Module-IV: Income from House Property Unit-1: Basis of Charge (Section 22) Applicability of Section 22 (Buildings or lands appurtenant thereto, Ownership of house property, Property used for own business or profession, Rental income of a dealer in house property, House property in a foreign country) Unit-2: Property Income Exempt from Tax Unit-3: Computation of Income from Let Out House Property (Determination of annual value, Gross annual value, Deductions under section 24) Unit-4: Computation of Income from Self Occupied House Property Unit-5: Deduction from Income from House Property
Module-V: Income from Profit and Gains of Business or Profession Unit-1: Concept of Profit and Gains Unit-2: scope of Section 28 (Basis of Charge) Unit-3: Business, Profession and Vocation Unit-4: Method of Accounting Unit-5: Different Deductions under This Head a. Schemes of Business Deductions b. Specific Deductions under this Act c. Deductions under sections 30 & 31 Unit-6: Depreciation Unit-7: Specific Disallowance
Module-VI: Income Tax Authorities and their Powers with Special Reference to Search & Seizure Unit-1: Income Tax Authoreities Unit-2: Appointment of Income Tax Authoreities Unit-2: Power of Search and Seizure- Section 132 a. Fulfillment of statutory conditions b. Satisfaction of primary test of reason to believe
Module-VII: Tax Avoidance, Tax Evasion and Tax Planning Unit-1: Basic Concept of Tax Avoidance, Tax Evasion and Tax Planning Unit-2: Reason of Tax Avoidance, Tax Evasion Unit-3: Distinction between Tax Avoidance and Tax Evasion Unit-4: Recommendation of Wanchoo Committee to Fight Tax Evasion Unit-5: Effect of Tax Avoidance and Tax Evasion
Module-VIII: Indirect Tax Unit-1: Service Tax Unit-2: Excise Duty Unit-3: Custom Duty Unit-4: Sale Tax
Prescribed Books 1. Vinod K. Singhania and Kapil Singhania, Taxmans Direct Tax- Law and Practice (Taxman Publication) 2. Kanga, Palkhiwala and Vyas, The Law and Practice of Income Tax (Lexis Nexis Butterworths) 3. Girish Ahuja and Ravi Gupta, Direct Tax- Law and Practice (Bharat Publication) 4. Girish Ahuja and Ravi Gupta, Direct Taxes Ready Reckoner (Bharat Publication)
Statutes 1. The Income Tax Act, 1961with recent Amendment 2. Income Tax Mannuals