PAPER 3(A): DIRECT TAXATION CA Inter Group 1

Taught by Faculties:

CA CS CMA Priyanka Saxena

PAPER 3(A): DIRECT TAXATION

₹5500 – ₹5500

CA Vijay Sarda

PAPER 3(A): DIRECT TAXATION

₹8499 – ₹8999

Aarish Khan

PAPER 3(A): DIRECT TAXATION

₹5490 – ₹5490

Syllabus

SECTION A: INCOME TAX LAW (50 MARKS)

Objective

a. To develop an understanding of the provisions of income-tax law.

b. To acquire the ability to apply such provisions to solve problems and address application-oriented issues.

Contents

1. Basic Concepts:

Income-tax law: An introduction

Significant concepts in income-tax law include person, assessed, previous year, assessment year, income, and agricultural income

Basis of Charge

Procedure for computation of total income and tax payable in case of individuals

2. Residential status and scope of total income:

Residential status

Scope of total income

3. Heads of income and the provisions governing computation of income under different heads:

Salaries

Income from house property

Profits and gains of business or profession Capital gains

Income from other sources

4. Provisions relating to clubbing of income, set-off or carry forward and set-off of losses, and deductions from gross total income.

5. Advance Tax, Tax deduction at source and tax collection at source.

6. Provisions for filing return of income and self-assessment.

7. Computation of total income and income-tax payable by an individual under the alternative tax regimes under the Income-tax Act, 1961, to optimize tax liability.

Note: If any new legislation(s) are enacted in place of existing legislation(s), the syllabus will accordingly include the corresponding provisions of such new legislation(s) in place of the existing legislation(s), with effect from the date to be notified by the Institute. Similarly, if any existing legislation(s) on income tax law ceases to be in force, the syllabus will accordingly exclude such legislation with effect from the date to be notified by the Institute.

Further, the specific inclusion(s) or exclusions in any topic covered in the syllabus will be affected by way of Study Guidelines every year, if required. Specific inclusions/exclusions in a topic may also arise due to additions/deletions made every year by the Annual Finance Act.