Professional Taxation

This course will cover the following topics:

Module 1 (Simplified Approach to Income Tax):

• Introduction to Income Tax
• Residential status
• Income under various heads – salary, house property, PGBP etc.
• Clubbing of income
• Deductions (80A to 80U)
• Agricultural income and tax treatment
• Assessment of individuals and firms

Module 2:

• Introduction/Overview of GST
• Constitutional framework
• Indirect taxes before GST
• Concept of VAT
• Structure of GST
• GST council
• Accounting for GST basic

Module 3:

• Supply – meaning, scope and types
• Time, place and value of taxable supply
• Import/Export of goods under GST
• Input Tax Credit (ITC) and the computation of GST liability
• Procedures – tax invoice, debit and credit note
• Special provisions
• Custom law
• ITR-1
• ITR-2
• Corporate tax laws