Income Tax Law and Practice-II Bangalore University B.Com 6th Semester NEP Notes

16/11/2023 1 By indiafreenotes
Unit 1 Profits and Gains from Business or Profession [Book]
Meaning and Definition Business, Profession VIEW
Vocation VIEW
Expenses Expressly Allowed VIEW
Allowable Losses VIEW
Expenses Expressly Disallowed VIEW
Expenses Allowed on Payment Basis VIEW
Problems on Business relating to Sole Trader VIEW
Problems on Profession relating to Chartered Accountant, Advocate and Medical Practitioner VIEW


Unit 2 Capital Gains [Book]
Basis of Charge VIEW
Capital Assets, Transfer of Capital Assets VIEW
Computation of Capital Gains VIEW
Exemptions on Capital Gains U/S 54, 54B, 54D, 54EC, 54F VIEW
Problems on Capital Gains VIEW


Unit 3 Income from Other Sources [Book]
Incomes VIEW
Heads of Income: Income from Salaries VIEW
Income from House & Property VIEW
Profits and Gains of a Business or Profession VIEW
Income from Capital Gains VIEW
Taxable under the head Other Sources VIEW
Securities, Kinds of Securities VIEW
Rules for Grossing Up VIEW
Ex-Interest Securities, Cum-Interest Securities, Bond Washing Transactions VIEW


Unit 4 Deductions from Gross Total Income [Book]
Introduction Provisions of Set off and Carry Forward of Losses (Theory only) VIEW
Provision for Set-off & Carry forward of losses VIEW
Computation of Total Income and tax liability of an Individual under old Tax regime and New tax regime 115BAC VIEW
Deductions u/s: 80 C, 80 CCC, 80 CCD, 80 D, 80 G, 80 GG, 80 GGA, and 80 U VIEW


Unit 5 Assessment Procedure and Income Tax Authorities: [Book]
Assessment Introduction, Due date of filing returns, Filling of returns by different assesses, E- filing of returns, Types of Assessment VIEW
Permanent Account Number Meaning VIEW
Procedure for obtaining PAN and Transactions were quoting of PAN is Compulsory VIEW
Income Tax Authorities their Powers and Duties VIEW