Overview

ABOUT THE COURSE:The course intends to impart knowledge on direct taxes. It provides basic knowledge of concept of income, basis of charge and determination of residential status. It provides thorough and comprehensive knowledge on computation of five heads of income namely income from salary, income from house property, income from business or profession, income from capital gains and income from other sources. It also provides knowledge of various concepts and their application relating to direct tax laws with a view to integrating the relevance of these laws with tax planning and decisions.INTENDED AUDIENCE:The audience would comprise those who intend to learn income tax either for filing their own income tax returns or for their official requirements. This course will help you to understand the Income Tax Act 1961 right from the basic terms of income tax Act till the filing of returns. The roles and responsibilities of income tax officers has also been explained. This will help you to understand the importance of filing the income tax returns by disclosing the correct income or loss and the consequences for not doing the same which will lead to you becoming a responsible Indian citizen.PREREQUISITES:Plus-two level with accountancy, and commerce. Non-commerce students can also enroll for the program.INDUSTRY SUPPORT:All the courses offered on Swayam are recognized by the government of India. A certificate from Swayam platform on MOOC course will add value to your CV. Moreover, learning income tax will help you in your official and personal capacity. You can file your own income tax returns once you earn income. It will also help you to file the tax returns in your official capacity and knowing the income tax provisions will help you to reduce your income tax liability through tax planning.

Syllabus

Module 1: Introduction to Income TaxModule 2: Introduction of Basic TermsModule 3: Residential Status of an IndividualModule 4: Incidence of TaxModule 5: Exempted Incomes and Capital and Revenue ConceptsModule 6: Income Tax AuthoritiesModule 7: Introduction to Computation of Income from SalariesModule 8: AllowancesModule 9: Computation of AllowancesModule 10: PerquisitesModule 11: Taxable Perquisites and Perquisites Taxable for Specified EmployeesModule 12: Rent Free Accommodation or (RFA) and Concessional Rental Accommodation or (CRA)Module 13: Provident FundsModule 14: Computation of PensionModule 15: Computation of GratuityModule 16: Leave Encashment and Standard DeductionsModule 17: Computation of Salary IncomeModule 18: Introduction to Income from House PropertyModule 19: Computation of Income from House PropertyModule 20: Computation of Income from Let Out House PropertyModule 21: Computation of Income from Self Occupied House PropertyModule 22: Tax Planning with Respect to House Property IncomeModule 23: Theoretical Concepts of Computing Income from BusinessModule 24: Computation of Business IncomeModule 25: Theoretical Concepts for Computing Professional IncomeModule 26: Computation of Professional IncomeModule 27: Theoretical Concepts of Capital GainModule 28: Computation of Capital GainModule 29: Section 54 and Section 54B Exemptions for Capital GainsModule 30: Section 54D and Section 54EC Exemptions for Capital GainsModule 31: Section 54F Exemptions for Capital GainsModule 32: Problems on Computation of Income from Capital GainsModule 33: Theoretical Concepts of Income from Other SourcesModule 34: Types of Securities, Taxability and Rules for GrossingModule 35: Computation of Income from Other Sources - Part 1Module 36: Computation of Income from Other Sources - Part 2Module 37: Aggregation of Income or Clubbing of IncomeModule 38: Set off and Carry Forward of LossesModule 39: Computation of Gross Total IncomeModule 40: Deductions from Gross Total Income - Section 80CModule 41: Deductions from Gross Total Income - Section 80GModule 42: Computation of 80GModule 43: Deductions from Gross Total Income - Section: 80CCC, 80CCD, 80D and 80DDModule 44: Deductions from Gross Total Income - Section: 80GG, 80GGB, 80DDB, 80QQB, 80RRB, 80TTA, 80TTB and 80UModule 45: Rates of Income Tax for Assessment Year 2022-23Module 46: Computation of Total IncomeModule 47: Problems on Computation of Tax LiabilityModule 48: Problems on Deductions from Gross Total IncomeModule 49: Types of Income Tax Assessment and Powers of Income Tax AuthoritiesModule 50: Powers of Income Tax Authorities