Income Tax Osmania University 4th Semester Notes

25/11/2020 1 By indiafreenotes
Unit 1 Introduction {Book}
Direct and Indirect Taxes VIEW
Canons of Taxation VIEW
Features and History of Income Tax in India VIEW
Definitions and Basic Concepts of Income Tax VIEW
Assessee, Assessment Year, Previous Year, Person, Agricultural Income VIEW
Deemed Assessee, Assessee-in-default VIEW
Heads of Income, Gross Total Income, Total Income VIEW
Incomes Exempt from Tax VIEW
Residential Status VIEW
Scope of Total Income VIEW
Conditions applicable to an Individual Assessee VIEW
Incidence of Tax VIEW VIEW
Types of Incomes VIEW


Unit 2 Income from Salaries {Book}
Salary, Characteristics of Salary: VIEW
Computation of Salary Income VIEW
Salary u/s 17(1) VIEW
Annual Accretion VIEW
Perquisites Profits in lieu of Salary VIEW
Deductions u/s. 16 VIEW
Problems on computation of Income from Salary


Unit 3 Income from House Property {Book}
Definition of House Property VIEW
Exempted House Property incomes VIEW
Annual Value VIEW
Determination of Annual Value for Let-out House and Self-occupied House, Deductions u/s.24 VIEW
Problems on computation of Income from House Property


Unit 4 Profits and Gains of Business or Profession {Book}
Definition of Business or Profession VIEW
Procedure for computation of Income from Business VIEW
Revenue and Capital nature of Incomes and Expenses VIEW
Allowable Expenses u/s. 30 to 37 VIEW
Expenses expressly disallowed VIEW
Deemed Profits VIEW
Miscellaneous provisions u/s 44 VIEW
Depreciation: Meaning VIEW VIEW
Conditions for charge of depreciation VIEW
Problems on computation of Income from Business
Income from Profession: Rules, Procedure VIEW
Problems on computation of Income from Profession


Unit 5 Capital Gains and Income from Other Sources {Book}
Capital Gains VIEW VIEW
Income from Other Sources VIEW
Meaning, Scope of charge VIEW
Basis of charge VIEW
Short term and Long-term Capital Assets VIEW
Transfer of Capital Asset VIEW
Deemed Transfer VIEW
Determination of Cost of Acquisition VIEW
Procedure for computation of Long-term and Short-term Capital Gains/Losses VIEW
Exemptions in respect of certain Capital Gains u/s. 54 VIEW
Problems on computation of capital gains
General Incomes u/s. 56(1) VIEW
Specific Incomes u/s. 56(2) VIEW
Dividends u/s. 2(22) VIEW
Winnings from lotteries Puzzles, crown world puzzles, Races VIEW
Interest on Securities VIEW
Gifts received by an Individual VIEW
Casual Income, Family Pension VIEW
Rent received on let out of Furniture, Plant and Machinery with/without Building VIEW
Deductions u/s. 57 VIEW