BCM5 B09 Income Tax Law and Accounts
Module I Basic Concepts: Income - Agricultural income - Person - Assessee - Assessment Year - Previous Year - Gross total income - Total income - Maximum marginal rate of lax - Residential status - Scope of total income on the basis of residential status –Exempted incomes. (10 Hours, 15 marks)
Module II Computation of Income under Different Heads: Salaries - Allowances - Perquisites -Profit in lieu of salary - Gratuity – Pension. (20 Hours, 20 marks)
Module III Income from house property: Annual Value of House property - Computation under different circumstances - Deduction from annual value. (15 Hours, 15 marks)
Module IV Profits and Gains of Business or Profession: Definition - Computation - Allowable expenses and non-allowable expenses - General deductions - Provisions relating to Depreciation. (17 Hours, 15 Marks)
Module V Capital Gains: Definition of Capital Assets - Long term and Short term - Transfers - Cost of acquisition - Cost of improvement - Exempted Capital gains. Income from Other Sources: Definition– Computation. (18 Hours, 15marks)
(Theory and problems may be in the ratio of 40% and 60%respectjvely .Only simple
problems are to be expected)
- Teacher: Dr. Ameen C P FACULTY
