LEARN INCOME TAX AND ITR

Presented by : Commerce Legacy

Teacher : Navneet choudhary

COURSE DURATION - 3 MONTHS, COURSE FEE ₹6000

COURSE FEATURES

1. Live video class
2. Real project
3. Assignments for practice
4. Study materials
5. Query solution
6. Monthly test
7. Certificate
8. Job assistance
9. Internship with corporate data
10. Pocket friendly fee

ABOUT OUR TEACHER

1.Our teacher have more than 20+ year experience
2.Taught more than 5000+ student's
Awareded as best teacher in computerise accounting and taxation training

A. KNOW OF INCOME TAX -BASICS

1.Introduction of Direct Tax
2.Need for Income Tax
3.Important Definitions
4.Previous Year and Assessment Year
5.Residential Status
6.Gross Total Income vs Total Income
7.Income tax Slab Rates for Individual
8.Income tax Slab Rates for HUF
9.Income tax Slab Rates for Partnership Firm
10.Income tax Slab Rates for Limited Liability Partnership (LLP)
11.Income tax Slab Rates for Companies
12.Income tax Slab Rates for Co-operative Societies
13.Income tax Slab Rates for Association of Persons
14.Income tax Slab Rates for Trusts
15.New Tax Slab Rates section 115BAC
16.Old Tax Slab Rates
17.Surcharge, Rebate, HEC
18.Marginal Relief
19.Treatment of Agriculture Income
20.Tax Rates for FY 2024-25 & AY 2025-26
21.ITR & Audit Due dates
22.Budget 2025 Update

B. INCOME FROM SALARY

1.Introduction
2.Basics of charge of income from salaries
3.All allowances
4.All retirement benefits
5.Profit in lieu of salary
6.All perquisites
7.Deductions u/s 16
8.Relief u/s 89 for Arrear of Salary and 89A
9.Filling of form 10IE
10.Computation of income salary
How to show income from salary, pension, exemption, perquisites etc in income tax return

C. INCOME FROM HOUSE PROPERTY

1.Basis of charge of Income from House Property
2.Gross Annual Value
3.Deductions from Rental Incomes (Section 24)
4.Interest on borrowed capital with PCP
5.Special aspects – Arrear of Rent Received
6.Special aspects – Co ownership
7.Computation of Income from House Property
8.Deemed owner
9.Composite Rent
How to show income from House property in Income tax Return (practical training)

D. INCOME FROM CAPITAL GAIN

1.Basis of Charge of Capital Gains
2.Meaning & Concepts of Capital Asset
3.Transaction not regarded as Transfer
4.Computation of Capital Gain
5.Short Tern & Long Term Capital Gain
6.Cost of Acquisition
7.Cost of Improvement
8.Deemed Transfer
9.Full value of consideration
10.Slump Sale
11.Capital gain on Sale of Shares
12.Capital gain on sale of other assets
13.Indexed Cost of Acquisition / Improvement
14.Exemptions from Capital Gain (Section 54)
How to show profit/loss from sale of shares and other assets in Income Tax Return (practical training)

E. INCOME FROM BUSINESS & PROFESSION

Introduction
1. Basis of Charge of Profits and Gains of Business or Profession (Sec.28 to 44)
2. Allowability/Deduction of Expenditure (practical coverage with perspective of auditor in ITR)
3.Compulsory maintenance of books of accounts (Sec.44AA)
4.COMPULSORY AUDIT OF ACCOUNTS- SEC. 44AB
5.Depreciation
6.Section 35, donation/expense on scientific research
7.Inadmissible Expenditure
8.Presumptive Tax- Section 44AD, 44ADA, 44AE
9.Alternate Minimum Tax
10.Practical training

F. INCOME FROM OTHER SOURCES

1.Basis of Charge of Income from Other Sources
2.Dividend, Interest Income
3. Winning from Lotteries, Crossword puzzles, Horse Races and card games etc (Also known as casual Income)
4.Taxability of Gifts
5.Family pension
6.Deductions u/s 57, 58,59
7.Computation of Income from Other Sources
8.How to show this in Income Tax Return (practical training)

G. CLUBBING OF INCOME

1.Situations in which clubbing of Provisions attracted
2.Income transfer with transfer Asset
3.Revocable transfer of Asset
4. Payment to Spouse from Concern in which Individual has substantial interest
5.Transfer to Spouse
6.Transfer to Son’s Wife
7.Transfer for benefit of Spouse / Son’s Wife
8.Minor Income
9.Income from Concern in which Substantial Interest exists
10.Other Aspects of Clubbing of Income

SET OFF AND CARRY FORWARD OF LOSSES

H. CURRENT YEAR LOSS

1.Within same source intra head
2.Any head inter head

I. BROUGHT FORWARD LOSS

1.Loss from Property
2.Business Loss
3.Unabsorbed Depreciation
4.Capital Loss
5.Loss under Other Sources
6.How to show in Income Tax Return (practical training)

J. DEDUCTIONS UNDER CHAPTER VI-A

1.80 C – LIC, School Fee, NSC, PF, Housing Loan cost, FD etc.
2.Section 80CCC: Contribution to Certain Specified Pension Funds
3.Section 80CCD : Contribution to Pension scheme of central govt./New Pension scheme/Atal Pension Yojna
4.80 D – Mediclaim (Self, Parents, Preventive Health Checkup etc.
5.80 DD / 80 U – Disability of Assessee / Dependent
6.80 DDB – Medical Treatment
7.80 E – Interest on Education Loan
8.80 EE – Interest on Loan for Specified House Property
9.80 EEA – Interest on Loan taken for Certain House Property
10.80 EEB – Interest on Loan taken for Purchas of Electric Vehicle
11.80 G – Donation to Approved fund and Charitable Institutions
12.80 GG – Rent paid no HRA
13.80 GGA – Donation to Research Institutions etc.
14.80 GGB, 80GGC – Deduction to Political Parties etc.
15.80 QQB – Royalty on Books
16.80 RRB – Royalty on Patents
17.80 TTA – Interest on Saving Account Deposits
18.80TTB – Interest on Deposits in case of Senior Citizens
19.Section 80U: Deduction for handicapped Assessee
20.How to show Deductions in ITR (practical training)

K. ADVANCE TAX & INTEREST

1.Advance Tax
2.Interest for Delay in Return Filing
3.Interest for Non-payment / Short payment of Advance Tax
4.Interest for Deferment of Advance Tax Instalments

PERSONS EXEMPTED FORM INCOME TAX RETURN FILING

L. INCOME TAX RETURNS FILING LIVE TRAINING AND WITH WITH EASY OFFICE SOFTWARE

1.ITR 1
2.ITR 2
3.ITR 3
4.ITR 4
5.ITR 5
6.ITR 6
7.ITR 7 8.ITR U