LESSON PLAN

SUBJECT & CODE: INCOME TAX & B.COM 204

COURSE: B.COM- IIND YEAR

NAME OF FACULTY: Ms.AMBIKA KUSHWAHA

Course Objective: To acquaint the students with basic principles underlying the provisions of direct and indirect tax laws and to
develop a broad understanding of the tax laws and accepted tax practices.

Unit Teaching Aids Sign Remarks

Topics to be covered Date
UNIT I Basic concepts Whiteboard ,
 Income, Agricultural income, Person, Duster ,Marker ,
practical questions ,
Assesses,
case study
 Assessment year, Previous year, -----do---
 Gross total income, Total income, -----do---
Maximum marginal rate of tax

 Permanent Account Number (PAN). -----do---

Residential status

 Scope of total income on the basis of -----do---

residential status

 Exempted income under section 10 -----do---

UNITII Computation of income under different heads Whiteboard ,

Duster ,Marker ,
  Salaries practical questions ,
case study
 Income from house property

 Practical questions -----do---

UNIT III Computation of income under different Whiteboard ,

heads Duster ,Marker ,
 Profits and gains of business or practical questions ,
case study
profession

 Capital gain -----do----

 Income from other sources. -----do----

UNIT IV Total income and tax computation Whiteboard ,

 Income of other persons included in Duster ,Marker ,
practical questions ,
assessor’s total income
case study

 Aggregation of income and set-off and -----do----

carry forward of losses

 Deductions from gross total income -----do----

 Rebates and reliefs

UNIT V Computation of income under different

firms Whiteboard ,
  Computation of Total Income of Duster ,Marker ,
individuals practical questions ,
case study
 firms Tax Liability of individual and
----do------
firm

 Preparation of return of income.

------do------

UNIT VI Introduction to GST

 Indirect tax, Structure in India Whiteboard ,
Duster ,Marker ,
practical questions ,
case study

 Issues in Indirect Tax ------do------

 Rationale for Transition to GST. ------do------

 GST-Meaning, Definition of GST, ------do------

 Types of GST ------do------

 Features of GST, Benefits of GST ------do------

 Problems on Introduction to GST ------do------

UNIT VII Definitions Whiteboard ,

 Actionable claim, Address of Delivery Duster ,Marker ,
practical questions ,
case study
  Aggregate Turnover, Agriculturist -----do----
Associated enterprises
 Business, GST Council, Credit note and -----do----
Debit note

 Deemed exports, Draw-back, Electronic -----do----

Credit ledger, Exempt Supplies, Input,
Input service, Input Service Distributor,
Input Tax, Input tax Credit, Intra-state
supply of Goods, Job work, Reverse
Charge, Invoice, Composition Levy

 Mixed Supply, outward supply, Person, -----do----

Turnover in State
UNIT VIII Levy and collection of tax Whiteboard ,
 Introduction Supply- meaning and scope Duster ,Marker ,
practical questions ,
of supply
case study

 Treatment of mixed and composite -----do------

supply, liability of tax payable person

 Rate and value of tax, transactions -----do------

without considerations

 List of transactions for supply of goods -----do------

and services and list of transactions

 Reverse charge mechanism

SUGGESTED READINGS:
1. Income Tax – Ahuja, Girish Gupta & Rani, Bharat Law House

2. Bare Acts of Customs, Customs Tariff Acts, GST

3. CST Law and Practice-SS Gupta

4. Basic of GST-Nitya Tax association Taxman

5. CA Practical Manuals

www.gstindia.com

ACTIVITIES:

1. Case studies related to topic covered.

2. Make a project on different deductions provided under the income tax and how we can reduce our tax.