Income Tax Law and Practice teaches you how income is classified, computed and taxed in India. It covers basic concepts, residential status, the five heads of income, set off of losses, deductions and the computation of total income and tax payable for an individual.
Each unit contains curated notes, diagrams, important questions and more.
General introduction to the Income Tax Act, 1961, income, agricultural income, casual income, previous year, assessment year, gross total income, total income, person, assessee, residential status and tax liability, and exempted income.
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Income from salary and income from house property, with solved numericals.
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Computation of taxable income from business or profession, capital gains, and income from other sources.
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Set off and carry forward of losses, and deductions from gross total income with special reference to sections 80C, 80D, 80G, 80-IA and 80-IB.
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Procedure for computation of total income (taxable income) of an individual, and income tax rates applicable for computation of total income and tax payable.
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These Income Tax Law and Practice notes for B.Com DAVV follow the official syllabus of Devi Ahilya Vishwavidyalaya, Indore, topic by topic. From basic concepts in Unit 1 to the computation of total income and tax payable in Unit 5, every provision and computation is explained in simple language with solved examples, so you understand the steps instead of just memorizing them.
Build a strong foundation with our Unit 1 notes covering the Income Tax Act, 1961, the meaning of income, agricultural income and casual income, previous year and assessment year, gross total income, total income, person and assessee, residential status and tax liability, and exempted income.
Get a clear understanding of income from salary and income from house property in our Unit 2 notes, with step-by-step numericals that are frequently asked in exams.
Learn the computation of taxable income from business or profession, how capital gains are calculated, and what is taxable as income from other sources.
Understand the set off and carry forward of losses and the deductions from gross total income under section 80C, 80D, 80G, 80-IA and 80-IB, explained with examples and limits.
Go through the procedure for the computation of total income of an individual and the income tax rates applicable to calculate tax payable, explained in a clear and exam-friendly manner.
Every unit includes Income Tax important questions commonly asked in DAVV B.Com semester exams, so you can revise efficiently in the final days before your exam without missing high-weightage topics.
Quick answers about Income Tax Law and Practice notes for B.Com DAVV students.
The DAVV B.Com Income Tax Law and Practice syllabus is divided into 5 units: Introduction and Basic Concepts, Income from Salary and House Property, Business or Profession, Capital Gains and Other Sources, Set Off, Carry Forward of Losses and Deductions, and Computation of Total Income and Tax Payable.
Yes, all Income Tax Law and Practice notes for B.Com DAVV are completely free to read on CampusNotes directly on the website — no login, signup, or payment required.
There are 5 units in DAVV B.Com Income Tax Law and Practice: Introduction and Basic Concepts, Income from Salary and House Property, Business or Profession, Capital Gains and Other Sources, Set Off, Carry Forward of Losses and Deductions, and Computation of Total Income and Tax Payable.
Unit 4 covers set off and carry forward of losses and deductions from gross total income, with special reference to sections 80C, 80D, 80G, 80-IA and 80-IB.
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