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Taxation > Income Tax for assessment year 2017-18 (Inter Level)

INFINITY COURSE

Income Tax for assessment year 2017-18 (Inter Level)

Name: Income Tax for assessment year 2017-18 (Inter Level)
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Taxation - Income Tax for assessment year 2017-18 (Inter Level)

Course Description
Income Tax for assessment year 2017-18 (Inter Level) for Taxation 2023 is part of Taxation preparation. The notes and questions for Income Tax for assessment year 2017-18 (Inter Level) have been prepared according to the Taxation exam syllabus.Preparation for Income Tax for assessment year 2017-18 (Inter Level) in English is available as part of our Taxation preparation & Income Tax for assessment year 2017-18 (Inter Level) in Hindi for Taxation courses. Download more important topics related with Income Tax for assessment year 2017-18 (Inter Level), notes, lectures and mock test series for Taxation Exam by signing up for free.

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Chapter 1 - Basic Concepts

2 Subtopics

Class 1

7 Videos | 1 Doc

Levy, Collection and Assessment

Slab Rate for Resident Senior and Super Senior Citizen

Tax Computation

Basic Concept - Taxation

Tax Treatment of Revenue Receipt and Capital Receipt

Definition of Income

Revenue and Capital Expenditure

Computation of Total Income and Memorising Chapters and Sections

Basis of levy

Concept of Income - Taxation

Doc | 13 pages

Chapter 2 - Residential Status

5 Subtopics

Class 1

10 Videos | 1 Doc

Learning Sections in Residential Status

Learning Section and Provisions of Section 6

Reading from Book Page 2

RS of Individual Basic and Additional Condition

Solve P1 Page 2

Definition of India

Purpose of Visit to India is Immaterial to Determine Residential Status

Finding Out Number of Days an Individual Stays in India

P2 in Page 2

P3 in Page 2

Residential Status - Taxation

Doc | 6 pages

Class 2

10 Videos | 1 Doc

Residential Test and Last Class Revision

Exception to the Basic Condition Intro and Person of Indian Origin

Exception to the Basic Condition

Additional Condition

P1 in Page 2

P2 in Page 2

Questions to be Answered by You

P4 in Page 2.5

P5 in Page 2

Question Put to the Student

Exceptions to the Basic Condition - Taxation

Test of Exception to the Basic Condition

P7 and P8 Question Discussion

Last Class Revision of Residential Status of Individual

Introduction to Residential Status of Group of Persons

Meaning of Control and Management or Place or Effective Management (POEM)

Reading from Book Page 2

RS of HUF S 6(2) and (6)

Questions on RS of HUF

P2 Solution of RS of HUF

P2, P3 and P4 in Page 2

RS of Firm and Burden of Proof on the Assessee

Residential Status of Indian Company and Foreign Company

Questions and Solutions on Residential Status of Company

Residential Status of Group of Persons - Taxation

242 S 5 Incidence of Tax Scope of total income

Indian Income and Foreign Income

Reading from Book Page 2

Incidence of Tax

Past Untaxed Profit

Incidence of Tax (Scope of Total Income) - Taxation

Doc | 13 pages

Class 5

14 Videos | 1 Doc

Learning and Memorising Sub Sections of Section 9

Discussion of Questions on Tax Treatment of Interest

Tax Treatment of Royalty

Tax Treatment of Fees for Technical Service

Reading from Book FTS

Place Where Salary is Deemed to Accrue or Arise in India

Examples of Place Where Salary is Deemed to Accrue or Arise in India

Reading Book and Solving Questions on Tax Treatment of Salary

Income from Business Connection

Reading from Book, Examples and Exception to Business Connection

P1 in page 2.15 Question Discussion

P2 in Page 2.16 Discussion

Test of Tax Treatment of Foreign Income in India

S 9(1)(v). Income by way of interest

When Income is Deemed to Accrue or Arise in India - Taxation

Doc | 17 pages

Chapter 3 - Income from House Property

6 Subtopics

Class 1

14 Videos | 1 Doc

Any income charged under which head

Types of building in pictures

In which year income is recognised to tax

S 22 Charging section Reading and explanation

Analysis and meaning of building

Tax treatment of composite rent

Meaning of registered owner and beneficial owner

Section 27(i). Deemed owner in case of spouse

Section 27(ii). Deemed owner in case of minor child

Section 27(iii). Deemed owner in case of holder of impartible estate

Section 27(iv). Deemed owner in case of property registered in the name of housing society

Section 27(v). Deemed owner in case of part performance of contract

S 27(vI). Deemed owner in case of leasehold property

When building is treated as self occupied for his own business or profession

Section 22. Chargeability - Taxation

Doc | 4 pages

Class 2

9 Videos | 1 Doc

First class revision of House Property

When rent of building is charged under other head

Different types of properties and its chargeability under different head

Discussion questions P1 in page 4.3

Meaning of annual value

Computation of annual value

Computation of expected rent

Computation of actual rent

Home work and conclusion

Type of Properties - Taxation

Discussion of question in page 4.5

Discussion of question in page 4.6

Discussion of question in page 4.7

Only 3 deductions allowed in computation in head house property

Deduction of Municipal Tax

Deduction of Standard Deduction

S 23, 24, 25A Coding of computation of income from house property

Reading from book Page 4.7

Solving practical question in page 4.8 P1 and conclusion

Compute actual rent and loss on account of vacancy - Taxation

Discussion P2 in page 4.8 and P3, P4, P5 in page 4.9

Computation of income if property is SOP-R

Reading from book page 4.10

Computation of income from HP for different types of properties

Solving P2 in page 4.10

Solving P3 in page 4.11

S 23(4) DLOP Computation

Special cases on area basis computation

P2 in page 4.12

P3 in page 4.12

Special Cases (Part - 1) - Taxation

Doc | 5 pages

Special Cases (Part - 2) - Taxation

Doc | 3 pages

Class 5

8 Videos | 1 Doc

Interest on borrowed capital

Computation of interest

Discussion on solving of computation of interest P1 in page 4.13

Solving P1, P2, P3 in page 4.13 and 4.14

Condition to be fulfilled for claiming of deduction of interest

S 25. Interest allowed as a deduction subject to deduction of tax at source

S 25A Recovery of unrealised rent and receipt of arrears of rent

S 26 Tax treatment of co-owner

Interest on borrowed capital (Housing loan) - Taxation

Doc | 6 pages

Class 6

10 Videos | 1 Doc

Solving P1 in page 4.14

Solving P2 in page 4.14

Solving P3 in page 4.14

Solving P1 in page 4.15

Solving P1 in Page 4.16

Solving P2 in page 4.16

Solve P3 in page 4.16

Solving P4 in page 4.17

Solving P5 in page 4.17

Solving P6 in page 4.17

Assignment - Taxation

S 15 Charging Section

Reading from Book Page 3.2

Remuneration by Partner Whether Charged uh Salaries

Timing of Taxability of Salaries

Foregoing of Salaries also Taxable

Certain Salaries Charged on Receipt Basis

Arrears of Salary

Income is Charged under the Head Salaries - Taxation

Doc | 8 pages

Class 2

4 Videos | 1 Doc

Last Class Salary Revision

Computation of Salary If Salary Falls Due Either on Last Day or On First Day

Computation of Salary if Pay Scale is Given

Allowances, Exempted and Fully Taxable Allowances

What is the Due Date of Salary and Allowances - Taxation

Doc | 5 pages

Class 3

7 Videos | 1 Doc

Last class Salary Revision and Reading of Allowances

Special Allowance

Part 1 Special Allowance

Part 2 Transport Allowance

Part 2 Children and Hostel Allowance

Outstation and Other Notified Allowance

Revision and Solution of Problem

Special Allowances - Taxation

Superannuation Salary

HRA

Computation Salary, Entertainment Allowance and Professional Tax

Computation of Superannuation Salary (SAS) - Taxation

Meaning of perquisites, it's valuation, it's types

Meaning of Specified and Non Specified Employee

When is Perquisite Taxable

Reading and Memorising Perquisites

Perquisites - Taxation

Use of Asset and Furniture

Valuation of Gifts

Valuation of Sale of Movable Assets

Solution P3 and P4 in Page 3.18

Solution P5 in Page 3.19

Valuation of Loan

Valuation of Perquisites - Taxation

Doc | 16 pages

Class 7

8 Videos | 1 Doc

Page 3.20 P3, P4 and P5 Loan

Page 3.21 P6 and P7 Loan

Valuation of Credit card Facilities

Valuation of Club Facilities

Valuation of Holiday Home Facilities

Valuation of Meal Facilities

Valuation of Gas, Electricity and Water Facilities

Valuation of Servant Facilities

Valuation of Credit Card Facility - Taxation

Valuation of Accommodation

Accommodation Salary

Reading from Book

Solving P3 in Page 3.25 Case 1

Solving P3 in Page 3.25 Case 2 to 6

Valuation of Hotel Accommodation

Valuation of Education Facility

Solve P2 in Page 3.27

Solve P1 in Page 3.27

Valuation of Accommodation and Education Facility - Taxation

Doc | 8 pages

Class 9

8 Videos | 1 Doc

Solve P6 in Page 3.26

Valuation of Medical Facilities

Valuation of Car Facilities

Valuation of Transport Facility

Valuation of Cat C perquisite

Tax Treatment of Provident Fund

Solve P1 in Page 3.33

Solve P1 in Page 3.37

Valuation of Medical,Car,Transport,Provident Facilities - Taxation

Doc | 14 pages

Class 10

13 Videos | 1 Doc

Solve P3 in page 3.37

Solve P1 in page 3.34

Solve P2 in page 3.35

Solve P3 in Page 3.35

Reading Section 7

Solve P1 in Page 3

Tax Treatment of Approved Superannuation Fund

Tax Treatment of Gratuity

Tax Treatment of Pension

Solve P3 in Page 3.39 Gratuity

Solve P3 in Page 3.40 Pension

Tax Treatment of Leave Salary

Solve P6 in page 3.46 Leave Salary

Tax Treatment of Superannuation,Gratuity,Pension - Taxation

Doc | 10 pages

Class 11

4 Videos | 1 Doc

Solve P1 in page 3.43

Solve P2 in Page 3.43

Solve P3 in page 3.43

Solve P4 in Page 3.44

P1 to P4 - Taxation

Doc | 4 pages

Chapter 5 - Deductions from Gross Total Income

What is Special Income, casual Income and normal income

Reading from Book

80C Introduction

Introduction (Deductions From Gross Total Income) - Taxation

80C Life insurance premium

80C Investment in Share Market

80C Other Savings

80C Repayment of Housing Loan and Tuition Fees

Solve P1 to P7 in Page 11

Section 80C - Taxation

Doc | 6 pages

P1 to P7 in Page 11 - Taxation

Doc | 5 pages

Class 3

5 Videos | 2 Docs

Solve P6 in Page 11.4

80CCC Contribution Towards Pension Fund of Insurance Companies

80CCD Contribution Towards Pension Plan in New Pension Scheme

80D Health Insurance Premium

80DD, 80DDB and 80U

80CCC, 80CCD, 80D, - Taxation

Doc | 10 pages

80DD, 80DDB and 80U - Taxation

Solve P3 and P4 in Page 11.8

80G Donations

80GG. Deduction in Respect of Rent Paid

Deduction in Respect on Interest on Loan Taken for Higher Education

Deduction in Respect of Interest on Loan Taken for Acquisition of RHP

80TTA. Deduction in Respect of Interest on Saving Bank Account

Section - 80G, 80GG, - Taxation

Doc | 8 pages

Section - 80E, 80EE, 80TTA - Taxation

Doc | 3 pages

Class 5

6 Videos | 1 Doc

Solve P2 Case 4 in Page 11

Solve P4 in Page 11

Deduction us 80GGB and 80GGC

Solve P1 in Page 11.17

Solve P2 in Page 11.17

Solve P3 in Page 11.18

Section - 80GGB, 80GGC and Assignment - Taxation

Doc | 6 pages

Chapter 6 - Other Sources

2 Subtopics

Class 1

6 Videos | 1 Doc

Introduction and Charging Section

Cash Gifts

Meaning of Relative

Gift and Sale and Purchase of Immovable Property

Gift and Sale and Purchase of JAD PB SAS

Discussion of Practical Questions in Page 8.3

Introduction and Charging Section - Taxation

Doc | 8 pages

Class 2

8 Videos | 2 Docs

Tax Treatment of Keyman Insurance Policy and Pension

Tax Treatment of Casual Income and Reading From Book

Tax Treatment of Interest on Securities

Tax Treatment of Dividend

Basis of Chargeability and Solve P1 in Page 8.7

Solve P2 to P6 from Page 8.8

Solve P6 in 8.9 OS

Solve P4 in Page 8.9

Keyman Insurance Policy, Tax Treatment of - Casual Income, Interest on Securities, Dividend

Doc | 12 pages

Basis of Chargeability And Assignment - Taxation

Doc | 10 pages

Chapter 7 - Depreciation

Conditions for Claiming Depreciation

Is it Mandatory to Claim Depreciation

Computation of depreciation, actual cost and WDV

Half Rate of Depreciation

Introduction - Depreciation ,Taxation

Comprehensive Questions

Solve P2 in Page 5.5

Solve P3 in Page 5.6

Section 38 Asset used partly for business

Nil Depreciation, Comprehensive Questions, Section 38 - Taxation

Doc | 6 pages

Chapter 8 - Capital Gain

Types of Capital Asset

Capital Asset

Capital Asset - Taxation

Computation of Capital Gain

Concept of Indexation

Full Value of Consideration

Cost of Acquisition

What is transfer,Not Transfer,capital Gain - Taxation

Cost of Acquisition of Shares

Cost of Acquisition of Self Generated Assets

Deemed cost of acquisition

Cost of Acquisition - Taxation

Transfer Expenses etc

P1 in Page 7.10

P1 in Page 7.12 Gifted Asset Subsequently Sold

S 51. Forfeiture of Advance Money

Cost of Improvement,Expenses on Transfer - Taxation

Insurance Claim Received on Destruction of Asset

Computation of capital gains in case of sale of shares or debentures

Computation of CapitaL Gain,Insurance Claim - Taxation

Doc | 6 pages

Class 6

4 Videos | 1 Doc

Transfer of Capital Asset to Firm

Transfer of Capital Asset by Firm

Compulsory Acquisition of the Asset by the Govt.

Conversion of Capital Asset into Stock in Trade

Conversion,Transfer of Capital Asset - Taxation

Exemption from Capital Gain = Foundation

P1 in Page 7.23

Exemptions from CapitaL Gain - Taxation

Section 54B. Sale and Purchase of Agricultural Land

Section 54EC

Section 54F. Sale of any LTCA and purchase or construction of RHP

Purchase of Agricultural Land - Taxation

P2 in Page 7.32 S 54GA

Special Economic Zone - Taxation

Doc | 6 pages

Chapter 9 - Profits and Gains from Business or Profession

What is Business Expenses

Shanti Bhushan Case

Jaypee Case

Temple Inside the Factory Case

Making of P and L Account as per accounts

Computation of Profits from Business

Section 30 and Section 31

Section 36(1)(i), (ib), (ii)

S 36(1)(iii). Interest on Borrowed Capital

S 36(iv), (iva), (v). S 40A(7), (9)

Computation of Profit from Business - Taxation

Doc | 6 pages

Class 3

5 Videos | 1 Doc

S 36(1)(vii). Bad Debt

Promotion of Family Planning Amongst Employees

Questions Discussion

S 37. General Deductions

General Deduction - Taxation

Doc | 12 pages

Class 4

6 Videos | 1 Doc

S 40A(3). Payment Made to Relatives

S 40A(2). Cash Expenditures

S 43B Deduction Allowed on Payment Basis

P1 in Page 6.21 Computation of Business Income

S 28 Charging Section

S 35 Scientific Research Expenditure

Deduction Allowed only on Actual Payment Basis - Taxation

Doc | 10 pages

Class 5

2 Videos

Page 6.14 Questions Discussions

P6 in Page 6

Class 6

6 Videos | 1 Doc

S 35D, Amortisation of preliminary expenses

Presumptive basis of taxation Introduction

S 44AD. Small Business

S 44ADA Small Professionals

S 44AE. Truck Operators

P2 in Page 6.27

Amortisation of Preliminary Expenses - Taxation

Doc | 9 pages

Chapter 10 - Assessment of Firm

1 Subtopic

Class 1

5 Videos | 1 Doc

Assessment of Firm Introduction

Reading from the Book

Computation of Maximum Remuneration

P2 in Page 14.3

Computation of Presumptive Income in Case of Firm

Assessment of Firm - Taxation

Doc | 7 pages

Chapter 11 - Clubbing of Income

11 Videos | 1 Doc

Clubbing of Income Introduction

Distribution of Income

Remuneration Received by Spouse

Asset Transferred by Individual to His or Her Spouse

Asset Transferred by Individual to AOP for the Benefit of Spouse

Asset Transferred by Individual to Son's Wife

Illustrations

Amount Invested in Business

P1 in Page 9.4

Clubbing of income of minor child

Clubbing of Income - Taxation

Doc | 17 pages

Chapter 12 - Set off and carry forward of losses

11 Videos | 2 Docs

Introduction

Rules to set off of the losses

P8 in Page 10.3

S 71B C.F of House Property Loss

CF of Other Losses

Last Class Revision

Unabsorbed Depreciation

Priority to Set Off the Losses

P1 in Page 10.7

P2 in Page 10.7

P1 in Page 10.7 Hint for Solving the Assignment

Set off of Loss & Carry Forward of Losses (Part - 1) - Taxation

Doc | 13 pages

Set off of Loss & Carry Forward of Losses (Part -2) -Taxation

Doc | 12 pages

Chapter 13 - Rates of Tax

7 Videos | 2 Docs

Rates of tax on total income

Rebate us 87A

P1 in Page 12.3

Basic Exemption also Allowed from Special Income

Securities Transaction Tax

Tax on LTCG

P1 in Page 12.5

Rates of Tax (Part - 1) - Taxation

Doc | 12 pages

Rates of Tax (Part - 2) - Taxation

Doc | 9 pages

Chapter 14 - Agricultural Income

5 Videos | 1 Doc

Meaning of Agricultural Income

Tea, Coffee and Rubber

Partial Integration of AI with NAI

Computation of AI

P6 in Page 13.4

Agricultural Income - Taxation

Doc | 8 pages

Chapter 15 - Assessment of Charitable Trust

4 Videos | 1 Doc

Creation of Trust

Meaning of Charity

Computation of Income

Registration of Charitable Trust

Assessment of Charitable Trusts - Taxation

Doc | 11 pages

Chapter 16 - TDS, Advance Tax, Interest and Filing of Return

3 Subtopics

Class 1

5 Videos | 1 Doc

System of Taxation - TDS

Memorising TDS Sections

Tax deductor, Timing, Rate and no TDS

Advance Tax

P1 in Page 17.2

Advance Tax - Taxation

Doc | 5 pages

Class 2

16 Videos | 4 Docs

S 192 TDS on Salaries

S 192A WIthdrawal from PF

S 193. TDS on Interest on Securities

S 194 TDS on Deemed Dividend

S 194A Other Interest

S 194B and 194BB TDS on Casual Income

S 194C TDS on Payment Made to Contractor

Tax Deducted at Source (Section 192 to 194C) - Taxation

Doc | 9 pages

Section (194D to 194I and 194IA to 194LA, 195) - Taxation

Doc | 8 pages

Section (197 to 200A) - Taxation

Doc | 4 pages

Assignment - Taxation

Doc | 3 pages

Class 3

1 Video | 2 Docs

Class 3 Return of Income

Return of Income (Part - 1) - Taxation

Doc | 8 pages

Return of Income (Part - 2) - Taxation

Doc | 5 pages

Chapter 17 - Extra Topics

Meaning of “Royalty” - Taxation

Doc | 2 pages

Salaries

4 Videos | 1 Doc

Leave Travel Concession

Acco on Transfer of EE

Computation of AS

Loan and Medical Insurance

Leave Travel Concession - Taxation

Doc | 1 pages

Capital Gain

2 Videos | 2 Docs

Page 7.38. Transfer of Converted Securities

Period of Holding

Sale of Converted Securities - Taxation

Doc | 2 pages

Period of Holding - Taxation

Doc | 2 pages

TDS on GST

Last Class Revision

Income from Business Connection

Tax on LTCG

Illustrations

S 36(iv)

S 71B C.F of House Property Loss

P1 in Page 6.21 Computation of Business Income

Shanti Bhushan Case

Securities Transaction Tax

Conclusion

Remuneration Received by Spouse

(v). S 40A(7)

(iva)

Interest us 234B

S 197A Declaration

(9)

P1 in Page 10.7 Hint for Solving the Assignment

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Course Speciality

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Income Tax for assessment year 2017-18 (Inter Level)

Taxation - Income Tax for assessment year 2017-18 (Inter Level)

Related Searches

TDS on GST

Last Class Revision

Income from Business Connection

Tax on LTCG

Illustrations

S 36(iv)

S 71B C.F of House Property Loss

P1 in Page 6.21 Computation of Business Income

Shanti Bhushan Case

Securities Transaction Tax

Conclusion

Remuneration Received by Spouse

(v). S 40A(7)

(iva)

Interest us 234B

S 197A Declaration

(9)

P1 in Page 10.7 Hint for Solving the Assignment

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