Income Tax Osmania University B.com 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
Allowances	VIEW	VIEW	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