Dr Girish Ahuja, Dr Ravi Gupta Income Tax

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Part I: Introduction to Income Tax

1. Basic Concepts

   • Assessee, Person, Assessment Year, Previous Year

   • Income, Gross Total Income, Total Income

   • Agricultural income

   • Exemptions vs. Deductions

2. Residential Status and Scope of Total Income

   • Resident, Not Ordinarily Resident, Non-Resident

   • Incidence of tax

   • Deemed income, Receipt vs. Accrual basis

3. Exempt Incomes [Section 10]

   • Agricultural income

   • HUF share income, scholarships, etc.

   • Exemption for specific allowances

Part II: Heads of Income

4. Income from Salaries

   • Allowances, perquisites, retirement benefits

   • Deductions from salary

   • Computation of taxable salary

5. Income from House Property

   • Annual value computation

   • Self-occupied vs. let-out

   • Deductions under Section 24

6. Profits and Gains of Business or Profession (PGBP)

   • Depreciation (Section 32)

   • Allowable and disallowable expenses

   • Presumptive taxation under Sections 44AD, 44ADA, 44AE

7. Capital Gains

   • Short-term vs. long-term

   • Indexed cost, exemptions under Sections 54, 54F, 54EC

   • Transfer and its exceptions

8. Income from Other Sources

   • Interest, dividend, winnings

   • Gifts under Section 56(2)(x)

   • Deductions and exemptions

Part III: Clubbing, Set-Off, Deductions

9. Clubbing of Income

   • Minor child, spouse, assets transfer, etc.

10. Set-off and Carry Forward of Losses

    • Inter-head and intra-head adjustment

    • Carry forward rules for various losses

11. Deductions from Gross Total Income (GTI)

    • Section 80C to 80U

    • LIC, PPF, tuition fees, medical insurance, donations, etc.

Part IV: Tax Liability & Compliance

12. Computation of Total Income and Tax Liability

    • Step-by-step computation

    • Rounding off, rebate under Section 87A, surcharge

    • Special rates of tax

13. Advance Tax, TDS & Provisions Relating to Return Filing

    • TDS applicability and rates

    • Due dates and penalty for non-compliance

    • PAN, Aadhaar, and ITR filing overview