Direct Taxation in India A Comprehensive Study

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What is Tax?
Power to levy tax
Overview of Income Tax Law in India
Income Tax Act
Finance Act
Income Tax Rules
Circulars & Notifications
Case laws
Levy of income Tax

Process of computing Total Income
Determine Residential Status
Classify Income Under different heads
Exemptions & Deductions
Clubbing of Income
Set-off & Carry forward & Set off losses
Computation of Total Income
Application of Tax Rate on Total Income
Surcharges & Rebate u/s 87A
Education Cess, Secondary & Higher Education Cess
Advance Tax
Tax Deducted at Source (TDS)
Tax Payable & Refundable
Return of income
Who is an Assessee?
What is Assessment?

Who is a person?
Who is an Individual?
What is HUF?
What is company?
Classess of companies
What is firm?
What is Association of Person?
What is Body of Individuails?
What is Local Authority?

What is income?
Concept of income under Income Tax Act
Concept of Revenue and capital Receipts
Transactions in the course of Business
Profits from sale of shares and securities
Whether single transaction constitute business?
Compensation on Termination of Agency
Treatment of Gift
Definition of India
Average Rate of Tax & Maximum marginal Rate
Average Year & Previous year
Previous Year for undisclosed source of income
Previous Year for unexplained cash credit
Previous year unexplained investments
unexplained money
Investment not fully disclosed in Books of Accounts
Unexplained Expenditure
Amount borrowed or repaid on Hundi & tax effect
Cases where income of previous year assessed in previous year
Taxability of shipping Business of Non - Resident
Taxability of person leaving india
Taxability of AOP/BOI/Artificial juridial persons formed for event or Purpose
Taxability of persons likely to Transfer property to avoid tax
Taxability of Discontinued Business
Charge of Income Tax

Income tax slab rates for individuals (A.Y. 2018-19)
Income Tax slab rates for Senior citizens (A.Y.2018-19)
Tax rates for firm,LLP,Local Authority, co-operative society
Tax rates for companies
Tax rates on other items
Tax rates on Unexplained money & Unexplained investments
1Surcharges & Rate (>50L to 100L)
Surcharges (income > 100L)
Surcharge for companies
Rebate u/s 87A
Rate of Education Cess, Secondary & Higher Education Cess

Introduction to Residential Status
Residential Status of Individuals
Exception to Residential Status Provisions
How to determine period of stay in India for Indian Citizen Crew Member?
Who is Resident and Ordinarily Resident and Resident but not Ordinarily Resident
Residential Status Case Study 1
Residential Status Case Study 2
Residential Status Case Study 3
Case study - Residential Status of Individual leaving India for Employment (for
Residential Status of HUF
HUF - Resident Ordinarly Resident and not Ordinarily Resident
Case Study on Residential Status of HUF
Residential Status of Firms and Association of Persons
Residential Status of Company
Residential Status of Local Authorities and Artificial Juridical Persons
Scope of Total Income and Residential Status
Taxability of Income received by Non Resident Seafarers
Case study on Scope of Total Income and Residential Status
Case study on Scope of Total Income and Residential Status
Meaning of "income Received or Deemed to be Received"
Meaning of " income Accuring and Arising"
Income deemed to accrue or arise in india
What is Business Connection?
Cases not treated as Business connection for Non Residents
Income from property, Asset or Source of Income in india
Income through transfer of a capital Asset situated in India
Declaration of Dividend by a Foreign Company
Income from salaries Deemed to Accrue or Arise in india
Case study - income from salaries Deemed to Accrue or Arise in india
Dividend paid by indian company outside india
Interest received by nonr resident - Deemed to accrue or arise in india
Income from Royalty (Deemed to accrue or arise in india)
Key points related to Royalty and its taxation
Income from Technical services (Deemed to accrue or arise in india)
Taxation of Interest, Rotyalty & Fees for Technical Services received by Non Resident
Case Study on Residential Status
Untitled Lesson

What is Agricultural income?
Meaning of Agricultural Operations
Instance of Agri Income
Instance of Non Agri Income
Treatment of Partly Agricultural & Partly non Agricultural income (specified cases)
Treatment of party Agri & Non Agri income (other cases)
Impact of Agriculture income Tax computation
case study 1 on Agro income
Case study 2 on Agro income
Case study 3 Agro income
Case study 4 Agro income
Agricultural income, members share in income of HUF, share of profit from firm & Interest Income of NRI
Remuneration to person who is not citizen of india

Tax paid on income from leasing Aircraft
Fees for Technical Services connceted with securing of india & Allowances / Perq
Compensation received on account of disaster
Sum received under Life insurance Policy
Payment from national Pension Trust
Payment from Approved super Annuation fund
Interest on Securities
Exemptions - Sec 10 (16 to 19)
Exemptions - Sec 10 (19A), (20), (21), (22B)
Income of Professional Institutions

Basic Elements of salary
State whether following receipts are salary ?
Definition of salary
General notes related to salary
Basis of charge for salary
Salary Due Vs Accrued
Place of Accrual of salary
Computation of salary at glance
Taxability of Gratuity
Gratuity received during continuation of service by Government Employee
Gratuity on Terminate of service by non-goverment employee covered under payment
Gratuity - Seasonal / Piece - rated employee
Case 1 Taxability of Gratuity
Gratuity received @ Termination by non - Government Employee not covered under p
Case 2 Taxability of Gratuity
Clarification on claiming statutory amount under gratuity Exemption
Tax on Gratuity received after death of an employee
Leave Salary Encashment
Case study 1 leave salary encashment
Cas study 2 leave salary encashment
What is Pension?
Tax treatment of Pension
Case Study - Tax treatment of Pension
Retrenchment Compensation and Tax Treatment
Compensation on VRS and its Tax Treatment
Annuity and its Tax Treatment
Salary received in lieu of Notice Period & Profit in Lieu of Salary
Allowances and its Tax Treatment
House Rent Allowance and its Tax Treatment
Case 1 House Rent Allowance and Tax treatment
Case 2 House Rent Allowance and Tax Treatment
Special Allowances and Tax treatment
Children Education Allowance & Hostel Allowance
Truck Drivers Allowance and Tax Treatment
Transport Allowance and Tax Treatment
Allowance to Government Employee outside India and other allowances
Allowance to Judges of High Court & Supreme Court and Salary to teacher / profes
Allowance / Perquisite to member of UPSC
Case 1 Children Education Allowance and Hostel Allowance
Case 2 Children Education Allowance and Hostel Allowance
Case 3 Computation of Gross Taxable Salary
Case 4 Computation of Gross Taxable Salary
Case 5 Computation of Gross Taxable Salary
Perquisites - Meaning and Chargeability
Exempted Perquisities

Introduction to Income from House Property
Building or land appurtenant thereto
"Annual value of a property - assessed to tax only in the hands of the owner"
Composite Rent
Net Annual Value of Property
Property Let out Through out PY
Property Let out Vacant for part of PY
Self Occupied Property
Self Occupied and Let out for parts of year
Decmed Let out Property
Property Stock in Trade
Let out and Portion Self Occupied
Tax Treatment of Unrealized Rent
Property Tax
Deductions from Annual Value
Deductions for Self Occupied Property
Receipt of Arrears Rent Unrealized Rent
Income from CO-Owned Property
Deemed Ownership
Case-1 Compute Gross Annual Value[GAV]
Case-2 Compute Net Annual Value of Property
Format-Computation of Income from house property-property let out through out previous year
Case-3 compute income from house property let out through out Previous year
Format compute income from house property- let out Property vacant for part of the year
Case-4 let out Property vacant for part of the year
Format-Computation of Income from house property-Self Occupied Property or Unoccupied property
Case-5 Self Occupied Property
Case-6 House Property Let-Out for Part of The Year And Self Occupied For Part of The Year
Case-8 House Property A Protion Let Out and A Protion Self Occupied
Case-9 Arrears of Rent and Unrealized Rent Recived Subsequenly

What is TDS?
TDS on salary
Case study TDS on salary
TDS on payment from Employees provident fund
TDS on interest on securities
TDS on Dividends
TDS on interest other than interest on securities
TDS on winning from lotteries cross word puzzles
TDS on winning form house Races
Tds on payment to contractors
TDS on insurance commission
TDS on items u/s 194DA, 194E, 194EE, 194F, 194G
TDS on commission other than insurance commission
TDS on Rent
TDS on transfer of immoveable property
TDS on payment of Rent by certain individual / HUF
TDS on fees for Technical & professional services
TDS on payment of compensation on acquisition of certain immoveable property

What is Business and Profession?
Income Chargeable under Head Profits and Gains of Business / Profession
General aspects related to Profits and Gains of Business / Profession
Income not taxable under head Profits and Gains of Business / Profession
Expenditures allowed as deduction
Rent, Rates, Taxes, Repairs and Insurance for Building
Repairs, Insurance of Plant & Machinery & Furniture
Depreciation under Sec 32 of Income Tax Act
Method of Computing Depreciation
Extract of Depreciation Rate
Computation of Depreciation Case 1
Computation of Depreciation Case 2
Case Study on Depreciation
Expenditure on Scientific Research (Sec 35) - Introduction
Scientific research as Revenue Expenditure incurred by Assessee
Scientific research as Capital Expenditure incurred by Assessee
Deduction on Amount paid to University, College or other institution for Scientific Research
Deduction on Amount paid to Company for Scientific Research
Deduction on amount paid to Research Association / University / College / Other Institution
Deduction on amount paid to National Laboratory
Case Study on Deduction for Scientific Research
Application of Sec 41 on Sale of Capital Assets used for Scientific Research
Deduction for Scientific Research to Company engaged in Business of Bio Technology or manufacturing of article or thing
Table of Deductions for Scientific Research

What is Capital Asset
Stock in Trade -is it a Capital Asset?
Personal Effects-is it a Capital Asset ?
Rural Agricaltural land -is it a Capital Assets ?
Short Term And Long Term Capital Assets
Exceptions
Transfer :What it Means ?
Capital Gain Year of Chargeability
Insurance Receipts and Capital gains
Capital Gains on conversion of Capitl Asset as stock in trade
Capital gains on introduction of capital contribution
Capital Gain on distribution capital asset on distribution of firm /AOP/BOI
Capital Gain on Compensation compulsory acquisition
Capital Gain on Capital Gains on case of specified Agreement SEC 45 (5a)
Capital Gain on Distribution of asset by companies in Liquidation (sec 46)
Capital Gains on Bayback of shares OR other securities
Transactions not regarded as transfer (Part 2)
Transfer of Shares by Shareholder in Scheme of Amalgamation
Transfer of Capital Asset under Reverse Charge Mechanism
Case Study Reverse Charge Mechanism
Mode of Computation of Capital Gain
Cost Inflation Index
Cost of previous owner considered as cost of acquisition
Case Study on Conversion of Capital Asset into Stock in Trade and Capital Gains Impact
Capital Gain on Self Generated Goodwill
Transactions not regarded as transfer (Part 1)
Capital Gains on Slump Sale
Case Study on Capital Gains on Slump Sale
Computation of Capital Gains in case of Depreciable Assets
Computation of Capital Gains in case of Depreciable Assets - Case Study
Case Study on Sec 50C - Full Value of Consideration in certain cases Preview
Transfer of Unlisted Shares
Tax on Advance Money received on Capital Assets
Income tax on Compulsory Acquisition of Urban Agricultural Land - Case Study Preview
Income tax on Compulsory Acquisition of Urban Agricultural Land - Case Study 2
Income tax on Compulsory Acquisition of Urban Agricultural Land - Case Study 3
Income tax on Compulsory Acquisition of Urban Agricultural Land - Case Study 4
Income tax on Compulsory Acquisition of Urban Agricultural Land - Case Study 5
Case Study Sec 54EC
Capital Gain Account Scheme (CGAS) Preview
Case Study on Capital Gain Exemption Sec 54 & 54EC (Part 1)
Case Study on Capital Gain Exemption Sec 54 & 54EC (Part 2)
Case Study on Capital Gains with Exemptions
Exemption under sec 54EE for Capital Gains
Exemption under Sec 54F for Capital Gains
Sec 54F Non compliance impact
Case Study with exemption under section 54EC Preview
Case study on Capital Gain - Exemption u/s 54 & 54EC

Deemed Dividend Sec 2 (22) (e)- Case study Preview
Chargeability of Dividend in the hands of Shareholder
Case Study - Sec 56(2)(x)
Tax on Advance forfeited on capital assets due to failure of negotiation
Taxability of Residual Income
BOND WASHING TRANSACTIONS AND DIVIDEND STRIPPING [SECTION 94]
APPLICABLE RATE OF TAX IN RESPECT OF CASUAL INCOME [SECTION 115BB]
DEDUCTIONS ALLOWABLE [SECTION 57]
Deduction u/s 57(iv) - Case Study
DEDUCTIONS NOT ALLOWABLE [SECTION 58]
Deemed Income chargeable to Tax

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