1. Introduction and Basic Concepts of Income Tax………………7
1.1 Money Bill and Finance Bill
1.1.1 Money Bill
1.1.2 Finance Bill
1.2 Direct Tax and Indirect Tax
1.2.1 Direct Tax
1.2.2 Indirect Tax
1.3 Income Tax Act
1.3.1 Features of the Income Tax Act
1.3.2 Scope of the Income Tax Act
1.4 Basic Concepts of Income Tax Act
1.4.1 Assessee – Section 2(7) of the
Income Tax Act, 1961 (As Per ICAI)
1.4.2 Assessment Year – Section 2(9) of the
IncomeTax Act, 1961
1.4.3 Previous Year – Section 3 of the
Income-Tax Act, 1961
1.4.4 Agricultural Income – Section 2(1a) of the
Income-Tax Act, 1961
1.4.5 “Person” – Section 2(31) of the
Income-Tax Act, 1961
1.4.6 “Income” – Section 2(24) of the
Income-Tax Act, 1961
1.4.7 Charge of Income Tax – Section 4 of the
Income-Tax Act, 1961
1.4.8 Gross Total Income (GTI)
1.4.9 Total Income and How Its Compute
1.4.10 Agricultural Income
1.4.11 Assessment – Income-Tax Act, 1961
1.4.12 Capital And Revenue Expenditure
1.4.13 Capital And Revenue Receipt
1.5 Difference between Exemption and Deduction
1.6 Method of Accounting
2. Residential Status and Effect on Tax Incidence………………32
2.1 Relevance of Residential Status
2.2 Residential Status ( Individual )
2.3 Residential Status of HUF (Hindu Undivided Family)
2.4 Residential Status of Firm and AOP
2.5 Residential Status of a Company
2.6 Residential Status of “Every Other Person”
2.7 Relationship Between Residential Status and Incidence
of Tax
2.8 Problems on Residential Status of an Individual
3. Return of Income & Permanent Account Number
(PAN)……………………………………………………………………………46
3.1 Forms of Return under the Income-tax Act, 1961
3.2 Section 139: Return of Income
3.3 PAN – Section 139A of the Income-tax Act, 1961
References………………………………………………………………………….64