Direct Tax SYBAF (Taxation Paper – III) Semester IV Manan Prakashan

(Taxation Paper – III)
 Semester IV

Elective Courses (EC)
Content:
1. Clubbing of Income –
Section 60 to 65

2. Set Off & Carry Forward of Losses
Sec: 70 – Set off Loss from one Source against Income from another Source under the Same Head of Income
Sec: 71 – Set Off Loss from One Head against Income of another Head
Sec: 71B – Carry Forward & Set off Losses from House Property
Sec: 72 – Carry Forward & Set Off of Losses of Business Losses
Sec: 73- Losses in Speculation Business
Sec: 74- Loss under the head Capital Gains

4. Computation of Income of Partnership Firm in
Relation to Sec: 40(b) & Tax Thereon With Applicable Rate of Tax

5. Return of Income – Sec 139
Excluding u/s 139(4A), 139(4B), 139(4C) & 139 (4D)

6. Tax Deduction at Source
Advance Tax U/S 207, 208, 209, 210 & 211
Interest Payable U/S 234A, 234B, 234C
Basic Aspects of Deduction of Taxes at Source
Sec: 192 – TDS on Salary
Sec: 194A – TDS on Interest
Sec: 194C – TDS on Contractor
Sec: 194H – TDS on Commission
Sec: 194I – TDS on Rent
Sec: 194J – TDS on Professional Fees

Advance Tax U/S 207, 208, 209, 210 & 211
Sec: 207 – Income Liable to Advance Tax
Sec: 208 – Liability of Advance Tax
Sec: 209 – Computation of Advance Tax
Sec: 210 – Payment of Advance Tax by Assessee on His Own Account
Sec: 211 – Due Dates of Payment of Advance Tax

Interest Payable U/S 234A, 234B, 234C
Sec: 234A – Interest for default in furnishing return of income
Sec: 234B – Interest for default in payment of advance tax
Sec: 234C – Interest for deferment of advance tax

8. Tax Planning and Ethics in Taxation – Basic Concepts
Note :
1. Relevant Law / Statute in force on 1st April immediately preceding commencement of Academic Year is applicable for ensuing examinations after relevant year.
2. The syllabus is restricted to study of particular section/s, specifically mentioned rules and notifications only.