Income Tax

Basic Concepts of Income Tax

Assessment Year and Previous Year

Person and Assessee – Definition and Types

Residential Status of Individuals and Companies

Tax Incidence Based on Residential Status

Scope of Total Income

Classification of Income – Five Heads

Income Exempt from Tax under Section 10

Income from Salaries: Components and Computation

Allowances and Perquisites – Taxability

Income from House Property: Computation and Deductions

Profits and Gains from Business or Profession (PGBP)

Capital Gains: Short-term vs Long-term, Exemptions

Income from Other Sources: Taxable Items

Clubbing of Income – Applicability and Exceptions

Set-off and Carry Forward of Losses

Deductions from Gross Total Income (Sections 80C to 80U)

Computation of Total Taxable Income

Assessment of Individuals: Tax Slabs and Rebate

Return of Income (ROI): Types and Due Dates

Advance Tax Payment: Applicability and Computation

Tax Deducted at Source (TDS) and Tax Collected at Source (TCS)

E-Filing & Procedures 

E-Filing of Income Tax Returns: Process and Requirements

PAN, Aadhaar, and Linking for Tax Compliance

Goods and Services Tax (GST) 

Introduction to GST: Objectives and Structure

GST Types: CGST, SGST, UTGST, and IGST

Taxable Event under GST: Supply

Consideration: Meaning and Relevance in GST

Levy and Collection of GST

Goods and Services Exempted from GST

Place of Supply: Rules for Goods and Services

Time of Supply: Goods vs Services

Value of Taxable Supply: Inclusions and Exclusions

Input Tax Credit (ITC): Conditions and Restrictions

Procedure for GST Registration

Goods and Services Valuation Rules

GST Invoice: Format and Essentials

Credit and Debit Notes under GST

Payment of GST: Modes and Due Dates

Interest, Penalty, and Late Fee on Delay in Tax Payment