BCH 501 Lesson Plan

Lesson Plan
INCOME TAX LAW AND PRACTICE , BCH V Semester

Mr. Manoj Singh Negi
Faculty of commerce and business management, Amrapali Institute
Faculty of Commerce & Business Management

Amrapali Group of Institutes,
Haldwani.
BCH ,V SEMESTER
Lesson Plan
Sub Name : Income Tax Law & Account Class: BCH V Semester
Subject Teacher: Mr. Manoj Singh Negi Email Id: formsng@gmail.com
Website: www.manojsir.web.com
Subject Objectives:
This course provides an introduction to, and overview of, fundamental concepts of income tax law.
Topics include Introduction to Taxation, including income tax, residential status, salaries, house
property, PGBP, capital gains tax, fringe benefits tax, Assessable Income, including taxation of
capital gains and losses; Non-Assessable Income; Deductions. An overview of the tax problems
confronting individuals on the federal level.
Subject Outcomes:
On completion of this course, students will be able to:

 Apply the steps in the income tax formula for the preparation of an individual income tax
return
 Basic knowledge of income tax, that why it’s imposed.
 Identify and describe terms associated with income tax.
 Demonstrate knowledge of gross income inclusions and gross income exclusions
 Know the various important sections of income tax act.
Lesson Plan
INCOME TAX LAW AND PRACTICE , BCH V Semester
Mr. Manoj Singh Negi
Faculty of commerce and business management, Amrapali Institute
 Know how to determine the filing status and filing requirements of an individual taxpayer
 Know how to identify and calculate deductions for adjusted gross income
 Calculate the income tax from the various heads of income.

Background Check
Law, Planning, Ethics, Research and Accounting Methods.
Teaching Pedagogies
Lectures/Case Studies/ Activities, Discussions & Presentations
Unit-I Definition of Important Term used in Income Tax, Agricultural Income, Gross Total
Unit-II Types of Resident, Individuals, H.U.F., Firms & other Association of persons, Companies,
Scope of Total Income on fee basis of Residence Exceptions from Tax.
Unit-III Computations of Income under the Head “Salaries” Computation of Income under the
Head “House Property” Computation of Income from Business & Profession.
Unit-IV Computation of Income from Capital Gains & Other Sources. Computation of total
Income of an individual clubbing & set of & carry forward of losses.
Unit-V Deductions (u/s 80 D to SOU) Rebate & Relief Assessment of total income
Credit Hours: 52+5
Classroom Teaching: 52 Hrs.
Inbound/Outbound Activity Based Learning: 5 Hrs.
Reference Study
R1. Dr. B.k. agarwal
R2: Dr. Rajeev Agarwal
R3: Direct Taxes Dr. V.K. Singhania
R4: Hc Mehrotra, Sp Goyal
Income Tax LAW & ACCOUNT, BCH V Semester
Dr. Manoj Singh Negi
Faculty of Commerce and Business Management, Amrapali Institute
Unit-1 Topics in Units Pedagogy used for Lecture required with brief Snap References used
being covered each lecture Shots
Income Tax  Direct tax and Lecture 1:  Dr. B.k. agarwal

Introduction Indirect tax.
 Income tax Act Type of tax law
 Definition of 1961, Direct tax  Dr. Rajeev
 Section1-income Income tax
Important Agarwal
tax act 1961. Lecture & Discussion
Indirect tax
Term used in  Section 2-
Definition. GST
Income Tax, Income tax act 1961  Direct Taxes Dr.
 Section 3.-
Agricultural Previous year.  Section 1 V.K. Singhania
 Section 4-  Section 2
Income
Charges of Lecture 2:
income. Agricultural Income  Direct Taxes
 Direct tax and Lecture & Case Study Dinkare Pagare
Indirect tax.
 Gross Total  Income tax Act
1961,
Income. Lecture 3:  Income tax law &
 Section1-income
tax act 1961. Lecture &  Section3 Practice H.C.
 Section 2- Presentation  Section 4
Definition.  CLASS Mabhotra
 Section 3.- TEST
Previous year.
 Section 4-
Charges of
income.
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Unit Duration: Unit I/03 Lectures

Unit-2 Topics in Units being Pedagogy used for each Lecture required with References used
covered lecture brief Snap Shots
Residential Status of :- Lecture Lecture 4:  Dr. B.k. agarwal

 Section 5
 Type of Resident.  Individual  Numerical on
Section 5  Dr. Rajeev Agarwal
 HUF
 Scope of Total Lecture & Problem Lecture 5:-
Income on fee  Firm solutions  Numerical on
basis of  Direct Taxes Dr.
 AOP/BOI Section5
Residence
 Section 6 V.K. Singhania
 Company
 Exceptions from Lecture & Problem Lecture 6:-
 Local Authority
Tax. Solutions Numerical on Section 6  Direct Taxes
 Artificial Judicial
Dinkare Pagare
Person Lecture & Case Study Lecture 7: Section 7
 Indian Income Section 8
Section 9  Income tax law &
 Foreign Income Section10
Practice H.C.
CLASS TEST
Mabhotra
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Unit Duration: Unit II/08 Lectures

Unit-3 Topics in Units being Pedagogy used for each Lecture required with References used
covered lecture brief Snap Shots
 Sec 10(10) Gratuity, Lecture 8:-Section  Dr. B.k. agarwal

Lecture & Case Study 10(10)
 Sec 10(10A)
Computations Commutted pension Lecture 9:- Numerical
on Section 10(10)
 Sec 10(10AA) Leave
of Encashment  Dr. Rajeev Agarwal
 Sec 10(10B)
Lecture 10:-
Income Retrenchment Section 10(10A)
Compensation. Lecture & Case Study
under  Sec 10(10C) Section 10(10AA)
Voluntary Retirement  Direct Taxes Dr. V.K.
the compensation. Singhania
 Sec 10(10CC) Tax on Lecture Lecture 11:-Section
Head perquisite 10(10B)
 Sec 10(13A) HRA Lecture & Problem Lecture 12:-Section

“Salaries”  Statutory provident solution 10(10C)
 Direct Taxes Dinkare
fund Lecture & Case Study Lecture 13:-Section Pagare
10(13A)
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 Recognized provident Lecture 14:-

fund Lecture & Case Study Section 14
Section 14 A
 Unrecognized Section 15
provident fund Deduction:
Section 16(i)
Computations Section 16(ii)  Income tax law &
Section 16(iii)
Practice H.C.
Public provident fund
of Sec (7) Lecture 15:- Mabhotra
Presentation Section 17(1)
Fully taxable. Section 17(2)
Income
Partly taxable.  Direct Taxes Dr. V.K.
Singhania
under Fully exempt
Meaning of Perquites Lecture 16:-

the Perquisites
Rent free accomodation Lecture & Case Study Section 17(3)
Head Concessional Rent Profit in lieu of salary  Direct Taxes Dinkare

Pagare
Specified employee
“Salaries”
Allotment of sweat Lecture 17:
equity Lecture Perquisites
ESOP and ESOS

 Income tax law &
Superannuation fund
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Fring benefit Lecture 18:- Practice H.C.

Perquisites
Keyman insurance Mabhotra
Lecture & Case Study
Computations policy
 Direct Taxes Dr. V.K.
Car facility Singhania
of
Free or concessional Lecture 19:-
Food Lecture & presentation Perquisites
Income
Club membership
under Movable assets  Direct Taxes Dinkare

Lecture 20:- Pagare
Transfer Lecture & discussion Problem solution
the
Use
Int free or concessional

Head
Loan
 Income tax law &
“Salaries” Medical facility
Practice H.C.
Free or concessional Lecture 21:- Mabhotra
journey Lecture & Case Study Problem solution
Credit card expenses
Lecture & problem Lecture 22:-

solutions CLASS TEST
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Unit Title & Duration: Unit III/15Lectures
Unit-3 Topics in Units being Pedagogy used for Lecture required with References used
covered each lecture brief Snap Shots
Computation Meaning, Lecture & Case Study Lecture 23:-  Dr. B.k. agarwal
Section 22: charging
Gross annual value section of house
Of property
Determinations of gross
total income Section 23(1):annual
Income value and its calculation  Dr. Rajeev Agarwal
1. Annual value of lecture 24

under rented house Lecture & Case Study section 23(1)treatment
property of unrealized rent.
2. Annual value of
the self-occupied house section 24 deduction
property
 Direct Taxes Dr.
3. House property
Head V.K. Singhania
which cannot be
let-out
Vacant house property. Lecture 25:-
“House Property” Lecture & Case Study Section 25AA
1. Standard Section 25B
deduction Section 26
2. Interest on Section 27
 Direct Taxes Dinkare
lone Pagare
Meaning,
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Gross annual value Lecture 26:-

Lecture & presentation Problem solution
Determinations of gross
Computation of house total income
4. Annual value of Lecture 27:-

property. rented house Lecture & discussion Problem solution Income tax law &
property Practice H.C. Mabhotra
5. Annual value of
self-occupied house
property
6. House property Lecture 28:-
which cannot be Class Test
let-out Case study
Vacant house property.
3. Standard
deduction
4. Interest on
lone
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Unit-3 Topics in Units being Pedagogy used for Lecture required with References used with
covered each lecture brief Snap Shots details
” Computation Meaning, what is included in Lecture & Case Study Lecture 29-  Dr. B.k. agarwal
business or profession, Section 28
Section 29
Of Computation of taxable profit
of business and profession.
Income Profit and loss account  Dr. Rajeev Agarwal

Income and expenditure Lecture & presentation Lecture 34:-
account Section 30
from Receipt and payment account Section 31
Methods of calculating Section 32
taxable profit.
Business Expenses or losses expressly
allowed  Direct Taxes Dr.
& V.K. Singhania
Deduction in respect of Lecture & problem Lecture 35:-
admissible allowances solutions Section 33AB
General deduction. Section 33ABA
Profession. Section 35
Expenses, damages or losses
disallowed Section 35DD
Expenses expressly
disallowed  Direct Taxes
Dinkare Pagare
Performa of income from Lecture & Case Study Lecture 36:-
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business and profession Section 35 DDA

Section 35 ABB
Meaning, what is included in
business or profession,
Computation of taxable profit

of business and profession. Income tax law &
Practice H.C. Mabhotra
Profit and loss account Lecture Lecture 37:-
Income and expenditure Computation Of
account Taxable Income From
Receipt and payment account Business And
Methods of calculating Profession
taxable profit.
Expenses or losses expressly Lecture Lecture 38:-
allowed Computation Of
Taxable Income From
Business And
Profession
Deduction in respect of Lecture & Case Study Lecture 39:-
admissible allowances Computation Of
Taxable Income From
Business And
Profession
General deduction.
Expenses, damages or losses Lecture 40:-
disallowed Class Test
Expenses expressly
disallowed Lecture & Case Study
Performa of income from
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business and profession
Unit Title & Duration: Unit III/8Lectures

Unit-4 Topics in Units being Pedagogy used for each Lecture required with References used with
covered lecture brief Snap Shots details
Computation Meaning. Lecture & Case Study Lecture 41:

Section 45  Dr. B.k. agarwal
Long term capital assets Section 2(14)
of Section 2(47)
Short term capital assets
Income 1. Meaning.
2. Zero coupon Lecture & Case Study Lecture 42:  Dr. Rajeev Agarwal
bond Type of capital gain
From 3. Transaction not
regarded as
transfer Section 2 (42A)
Capital 1. Full value of
consideration of Section 47
an assets
Gains 2. Computation of  Direct Taxes Dr. V.K.
short term capital Singhania
gains
3. Computation of Presentation Lecture 43:
long term capital Section 48
gains Cost of acquisition
4. Long term Share or securities
capital gains on
transfer of bonds/  Direct Taxes Dinkare
debentures Pagare
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5. Cost of
acquisition of an
assets
6. Cost of  Dr. B.k. agarwal
improvement.
7. Fair market Lecture 44:
value. Cost of improvement
8. Index cost of
acquisition Exemptions: Section 54
9. Index cost of to 54G  Dr. Rajeev Agarwal
improvement.
10. Cost of inflation Problem solution
index
11. Exempt capital
gains.
12. Other capital
gain exempt Lecture 45:
 Direct Taxes Dr. V.K.
from tax. Class Test Singhania
Duration: 5Lectures
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Meaning Lecture & Case Study Lecture 46:-

Section 56(1)
Description of some Section 56(2)
Computation Section 2(22)(a)  Dr. B.k. agarwal
Important income.
Section 2(22)(b)
of Winning from lotteries, Section 2(22)(c)  Dr. Rajeev Agarwal
Section 2(22)(d)
crossword puzzles,
Income races, and card games.  Direct Taxes Dr. V.K.
Singhania
Interest on securities.
From Lecture & Case Study Lecture 47:-
 Government securities  Direct Taxes Dinkare
Meaning of securities Pagare
Other  Non-government Chargeability
securities. Non chargeability
Lecture 48:-
Deduction of tax at source Kind of securities
Sources
No deduction of tax at source Lecture Lecture 49:-
Section 57
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Lecture Lecture 50:-

Section 58
Problem Solution
Set off & Carry S 70. Whether set off Lecture & Problem Lecture51:
Forward of Losses allowed within same Solutions
head? Section 70
Section 70 to 80
Section 71  Dr. B.k. agarwal
S 71. Whether set off Lecture & Problem
allowed with different Solutions
House Property Loss
head?  Dr. Rajeev Agarwal
Business loss
S 71B to 74A Rules to Lecture & Problem
Speculation loss (Same carry forward & set off Solutions
past year losses Lecture52:  Direct Taxes Dr. V.K.
day sale & purchase i.e.
Section 71B to Singhania
S 32(1) Current year Lecture & Problem
without taking delivery) Section 74 A
depreciation Solutions
S 43(5) S 32(2) Unabsorbed Lecture & Problem  Direct Taxes Dinkare
Loss under the head depreciation Solutions Pagare
Rules to set off Lecture & Problem Lecture 53:
capital gain Section 32(1)
unabsorbed depreciation Solutions
Loss from activity of Section 32(2)
Exceptions to the rule Lecture & Problem
owning & maintaining that assessee who has Solutions
race horses incurred the loss can
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Loss from lotteries etc only set off that loss.

Other losses This exception is
applicable only to S 72
& S 32(2).
Duration:8Lectures
.
Unit 5 Topics in Units being covered Pedagogy used Lecture References used with
for each lecture required with details
brief Snap
Shots
Deductions (u/s 80 C Deduction u/s 80 c to 80 u Lecture 54(1):  Dr. B.k. agarwal
to 80 U) Decuction u/s  Dr. Rajeev
Meaning, Lecture and 80C to u/s 80 U Agarwal
Rebate & Relief discussion
tax rebate of income tax in respect of Lecture 55(2):
Assessment of total
share of profit from an association of Decuction u/s  Direct Taxes Dr.
income persons or body of individuals 80C to u/s 80 U V.K. Singhania
Presentation  Direct Taxes
Relief form income tax in respect of Lecture 56(3): Dinkare Pagare
salary etc, paid on advance or in arrears Decuction u/s  Income tax law &
80C to u/s 80 U Practice H.C.
Mabhotra
Lecture 57:-
Section 86
Section 87(A)
Section 89(1)
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ACTIVITIES FOR THE SEMESTER
ITR-6
ITR-1
companies and firms
for Individual
INFORMATION ABOUT ITR-3 ITR-4 ITR-5
DIFFERENT ITR FORMS
for Individual for Individual companies and firms
ITR-2 ITR-7
for Individual companies and firms
INCOME TAX QUIZ
HOW TO FILE INCOME TAX RETURN
Z BUSINESS CNBC Awaaz
TV SHOW TV SHOW
MONEY GURU TAX GURU
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2020

BCH 501 Lesson Plan

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Lesson Plan

INCOME TAX LAW AND PRACTICE , BCH V Semester

Faculty of Commerce & Business Management

Subject Teacher: Mr. Manoj Singh Negi Email Id: formsng@gmail.com

On completion of this course, students will be able to:

 Calculate the income tax from the various heads of income.

Income Tax  Direct tax and Lecture 1:  Dr. B.k. agarwal

Unit Duration: Unit I/03 Lectures

Residential Status of :- Lecture Lecture 4:  Dr. B.k. agarwal

Unit Duration: Unit II/08 Lectures

 Sec 10(10) Gratuity, Lecture 8:-Section  Dr. B.k. agarwal

 Sec 10(13A) HRA Lecture & Problem Lecture 12:-Section

 Recognized provident Lecture 14:-

Meaning of Perquites Lecture 16:-

Head Concessional Rent Profit in lieu of salary  Direct Taxes Dinkare

ESOP and ESOS

Fring benefit Lecture 18:- Practice H.C.

under Movable assets  Direct Taxes Dinkare

Int free or concessional

Credit card expenses

Lecture & problem Lecture 22:-

Unit Title & Duration: Unit III/15Lectures

1. Annual value of lecture 24

Gross annual value Lecture 26:-

4. Annual value of Lecture 27:-

Income Profit and loss account  Dr. Rajeev Agarwal

business and profession Section 35 DDA

Computation of taxable profit

Performa of income from

business and profession

Unit Title & Duration: Unit III/8Lectures

Computation Meaning. Lecture & Case Study Lecture 41:

Meaning Lecture & Case Study Lecture 46:-

Lecture Lecture 50:-

Loss from lotteries etc only set off that loss.

ACTIVITIES FOR THE SEMESTER

INCOME TAX QUIZ

HOW TO FILE INCOME TAX RETURN

Z BUSINESS CNBC Awaaz

MONEY GURU TAX GURU

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