Income Tax in Practice: Real-World Case Studies & Tax Planning
The course bridges core theoretical frameworks with practical execution through five structured modules:
Overall, the course is designed to transition students from understanding foundational tax law to independently analyzing and calculating tax liabilities for individuals and business organizations.
The course covers the basic concepts of tax law, income from salaries, income from house property, profit/gains of business or profession (PGBP), and practical case studies.
Module Il (Income from Salaries) carries the highest weightage, accounting for 22 marks out of the 70-mark total.
It covers the history of income tax, basic definitions, tax authorities, exempted incomes (like agricultural income), and determining residential status.
You will learn to calculate tax implications for Gratuity, Commuted pension, Earned leave salary, and VRS compensation.
Its focus is the lncome from House Property, specifically computing Annual Value under different situations and applying deductions under Section 24.
It covers the definition of business/profession, identifying
allowed and disallowed expenses, general deductions, and depreciation provisions