Direct Taxation Bangalore University 5th Semester BBA Notes
by | Unit 1 | |
| Taxation, Basic Reasons to Impose Taxation | VIEW |
| Constitutional Validity of Taxes | VIEW |
| Administration of Tax Laws | VIEW |
| Component of Income Tax Law in India | VIEW |
| Basic Principles for Charging Income Tax [Sec. 4] | VIEW |
| Tax Year [Sec 3] | VIEW |
| Assessee [Sec 2(7)] | VIEW |
| Capital Asset 2(22) | VIEW |
| Person [Sec 2 (77)] | VIEW |
| Income [Section 2(24)] | VIEW |
| Heads of Income [Sec 14] | VIEW |
| Gross Total Income (GTI) [Sec. 122], Total Income (TI) [Sec. 2(108) read with section 122] | VIEW |
| Distinguish between Gross Total Income and Taxable Income | VIEW |
| Rounding-off of total income [Sec. 516] | VIEW |
| Capital Receipts -vs.- Revenue Receipts | VIEW |
| Rate of Tax Under Old Tax Regime / Regular Tax Regime | VIEW |
| Rate Of Tax Under Default Tax Regime (New Regime) U/S 202 | VIEW |
| Double Taxation Avoidance Agreement (DTAA) | VIEW |
| Residential Status and Scope of Total Income | |
| Determination of Residential Status | VIEW |
| Residential Status, Individual [Sec. 6(2)] to [Sec. 6(8)] | VIEW |
| Hindu Undivided Family (HUF) [Sec. 6(9)] | VIEW |
| Company [Sec. 6(10)] | VIEW |
| Firm or an Association of Persons (AOP) or Body of Individuals (BOI) or Any other Person [Sec. 6(11) | VIEW |
| Resident and Ordinary Resident [Sec. 6(13)] | VIEW |
| Illustrations only on Individual Incidence of Tax [Sec. 5] | VIEW |
| Unit 2 | |
| Basic Elements of Salary | VIEW |
| Employer-Employee Relationship | VIEW |
| Basis of Charge [Sec. 15] | VIEW |
| Definition of Salary [Sec. 16] | VIEW |
| Deduction from Salary [Sec. 19] | VIEW |
| Perquisite [Sec. 17] | VIEW |
| Income Not be included in the Total Income [Schedule III and Sec 11] | VIEW |
| Computation of Taxable Salary | VIEW |
| Illustrations including deduction of Retirement Benefits | VIEW |
| Employee Stock Option Plans (ESOPs) | VIEW |
| Income from House Property | |
| Chargeability [Sec. 20] | VIEW |
| Determination of Annual Value [Sec. 21], Property -Self-occupied property Deemed to be let out Property, Property not actually occupied by the Owner, Partly let out and partly Self-occupied Property, Computation of Income | VIEW |
| Recovery of Arrears of Rent and Unrealized Rent | VIEW |
| Deduction’s u/s 22 – a) Standard Deduction b) Interest on Borrowed | VIEW |
| Capital Treatment of Pre and Post Construction | VIEW |
| Interest Computation of Income from House Property, Property owned by co-owners | VIEW |
| Unit 3 | |
| Meaning of Business 2(20), Definition of Profession 2(86) | VIEW |
| Income Chargeable under the Head Profits and Gains of Business or Profession [Sec. 26] | VIEW |
| Incomes not Taxable under the Head Profits and Gains of Business or Profession [Sec. 27] | VIEW |
| Expenditures Allowed as Deduction: Rent, Rates, Taxes, Repairs and Insurance for Building [Sec. 28], Repairs and Insurance of Machinery, Plant and Furniture [Sec. 28] | VIEW |
| Deduction in Respect of employee Welfare [Sec 29 and 30], Depreciation [Sec. 33], Block of Assets [Sec. 2(17)], Scientific Research [Sec. 45] | VIEW |
| Deduction in Respect of Expenditure on Specified Business [Sec. 46] | VIEW |
| Bad Debts [Sec. 31], Provision for Bad Debts [Sec. 31] | VIEW |
| Residual Deduction [Sec. 32] | VIEW |
| illustrations on Business Income- Setoff and Carryforward of Business Loss and un Absorbed Depreciation | VIEW |
| Disallowances and Presumptive Taxation | |
| Method of the Accounting 276 | VIEW |
| Maintenance of Books of Accounts 58, List of Notified Profession under Section 58 | VIEW |
| Disallowed Expenditure [Sec. 35], Section 35. Inadmissible Expense in the Books of the Partnership form and LLP, Computation of Book profit under 35(e) | VIEW |
| Section 36 Expense Disallowed if Payment is made in excess of 10,000 in cash/other than Prescribed Mode, Certain Payment can be allowed only upon Actual Payment | VIEW |
| Presumptive Taxation [Sec. 58] | VIEW |
| Unit 4 | |
| Basis of Charge-Capital Asset [Sec. 2(22)], Types of Capital Asset-Transfer [Sec. 2(109)] | VIEW |
| Capital Gain [Sec. 67] | VIEW |
| Transactions not regarded as Transfer (Sec. 70) | VIEW |
| Meaning of “Adjusted”, “Cost of Improvement” and “Cost of Acquisition” (Sec.90) | VIEW |
| Computation of Long-Term Capital Gain (LTCG)(Sec-72) | VIEW |
| Deemed or Notional Cost of Acquisition [Sec. 73], Computation of Capital gain in Certain cases | VIEW |
| Computation of Capital gain in Case of Depreciable Assets [Sec. 74] | VIEW |
| Tax on Capital Gain- Deductions [Sec. 82, 83, 84, 85, 86] | VIEW |
| Income from Other Sources | |
| Basis of Chargeability [Sec.92] | VIEW |
| Casual Income: Winning from Lotteries, Crossword Puzzles, etc. [Sec. 92(2)(b)] | VIEW |
| Family Pension- Gift [Sec. 92(2)(m)] | VIEW |
| Interest on Securities [Sec. 92(2)(e)] | VIEW |
| Sum Received under a Life Insurance Policy [Sec. 92(2)(l)] | VIEW |
| Dividend [Sec. 2(40)] | VIEW |
| Specific Disallowance [Sec. 94] | VIEW |
| Computation of Income from other Sources – Illustrations | VIEW |
| Unit 5 | |
| Income Exempted [Schedule II Read with Sec 11] | VIEW |
| Agriculture Income, Instances of Agricultural (Agro) Income, Instances of Non-agricultural (Non-Agro) Income | VIEW |
| Treatment of Partly Agricultural and Partly Non-Agricultural Income | VIEW |
| Illustrations on Impact of Agricultural income on Tax Computation | VIEW |
| Deductions: Differences between Deduction and Exemptions | VIEW |
| General Provisions Schedule III, Rebate u/s 156 | VIEW |
| Computation Tax Gross Total Income and Tax Liability | VIEW |
| Setoff and Carry Forward of Losses | |
| Introduction Inter Source adjustment (Intra-Head adjustment) [Sec. 108], Inter head adjustment [Sec. 109] | VIEW |
| Carry Forward of Loss | VIEW |
| Loss under the head ‘Income from House Property’ [Sec. 110] | VIEW |
| Carry forward and Set off of Business Loss other than Speculation Loss [Sec. 112] | VIEW |
| Set off and Carry forward of Unabsorbed Depreciation, Carry forward and Set off of Speculation Loss [Sec. 113] | VIEW |
| Carry Forward and Set off of Loss from Specified Business Covered u/s 35AD [Sec.114] | VIEW |
| Carry Forward and Set off of Capital Loss [Sec. 111] | VIEW |
| Carry Forward and Set off of Losses from Activity of owning and Maintaining Race Horses [Sec. 115] | VIEW |