Description

Direct Tax

 

MCOM Semester III

 

Syllabus

 

1. Definitions and Basis of Charge
♦ Definitions : Person, Assessee, Income
♦ Basis of Charge : Previous Year, Assessment Year, Residential Status, Scope of Total Income, Deemed Income

2. Heads of Income
♦ Income from Salary
♦ Income From House Property
♦ Profits and Gains From Business and Profession
♦ Income from Capital Gains
♦ Income from Other Sources

3. Deductions u/s 80 and Exclusions from the Total Income
♦ Deductions : 80C, 80CCF, 80D, 80DD, 80DDB, 80E, 80U
♦ Exclusions : Exemptions related to Specific Heads of Income to be covered with Relevant Provisions, Agricultural Income, Sums received from HUF by a Member, Share of Profit from Firm, Income from Minor Child, Dividend

4. Computation of Income and Tax of Individual, Firm and Company (Excluding MAT) and Provisions for Filing Return of Income – Sec 139(1) and Sec 139(5)
♦ Computation of Income and Tax of Individual and Partnership Firm

Note :
1. The syllabus is restricted to study of particular sections, specifically mentioned in rules and notifications only.
2. All modules/units include computational problems / Case Study.
1. The Law /in force on 1st April immediately preceding the commencement of Academic Year will be applicable for ensuing examinations.