Basics of Tax in India (College Level)

Learn how to compute Tax as per Indian Laws
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  • Lectures 28
  • Length 2 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2015 English

Course Description

Do you wonder why governments levy tax?

Do you want to know what is Income Tax?

Do you want to know how income and income tax is calculated?

Do you want to know the legal sections and provisions governing income tax in India?

Then this course is for you.

Welcome to Basics of Indian Income Tax.

In India, Income Tax legislation is considered as one of the most complex legislation involving year after year changes, amendments, circulars, cases, etc.

Income Tax affects literally every Indian citizen who is supposed to pay tax. Hence, it is essential for every Indian citizen to have knowledge on the Indian Tax provisions. This course will take you through the basics of Indian Income Tax provisions.

Indian Income Tax provisions are governed by Indian Income Tax Act, 1961. Knowledge of the tax provisions will help in tax planning as well as avoid tax litigations.

Every year tax returns have to be filed by every person who is covered by the provisions and rules of Income Tax Act.

Income tax return is the declaration filed by the persons about their income earned to the Income Tax Department.

Not filing the returns will attract complications.

Similarly not filing the correct returns will also attract complications.

So, by taking up this course, you will understand

a) Meaning of Tax

b) Different types of Tax

c) Why tax is levied

d) Components of Income Tax Law

e) Income as per Income Tax Act

f) Procedure in computing the total income for calculating Income Tax

g) Requirement of Advance Tax

h) Requirement of Tax Deduction at Source

i) Return of Income

j) Rates of Tax

k) Concept of Assessment Year and Previous Year

l) Undisclosed sources of Income

m) Residential Status

n) Income deemed to be received in India

o) Income accruing or arising in India

p) Income deemed to accrue or arise in India

q) Many critical points in Income Tax

This course is structured in self paced learning style.

The course content is provided in the form of Video Lectures.

Simple terminologies were used and the audience from any back ground can take up this course.

Take this course to understand the basics of Indian Income Tax.

What are the requirements?

  • Students can approach this course with fresh mind.
  • No prior knowledge in Taxes or Accounting required.

What am I going to get from this course?

  • Understand What is Tax
  • Understand Why Taxes are levied
  • Compute Income for determining Income Tax
  • Compute Income Tax

Who is the target audience?

  • This course is for Indian Students who wish to know about the basics of Indian Income Tax
  • This course is suitable for Indian Commerce Graduation Students, CA, CMA, CS, MBA Finance students who wish to know about basics of Indian Income Tax
  • This course will be use ful for Indian Tax Payers
  • This course to some extent will be useful for Non Resident Indians (NRI)
  • This course is not for Non Indians.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction
Income Tax Law in India
Levy of Income Tax and Concept of Income
Section 2: Steps in Computing Total Income and Tax Payable
Steps in Computing Total Income and Tax Payable
Steps 1 to 3 in Computing Total Income and Tax Payable
Steps 4 to 6 in Computing Total Income and Tax Payable
Steps 7 to 10 in Computing Total Income and Tax Payable
Steps 11 to 13 in Computing Total Income and Tax Payable
Importance of Section 2 of the Income Tax Act
Assessee and Assessment
Who is a Person
Who is Individual and What is HUF
What is Company
Classes of Companies
What is Firm
Other Persons
Introduction to Basis of Charge and Rates of Taxes
Charge and Rates of Income Tax
Income tax rates for Individual HUF AOP BOI AJP
Computation of Income Tax for an Individual
Tax rates for Senior and Very Senior Citizens
Rates for Firms LLP LA CS
Rates for Companies
Income Tax Rates prescribed by Income Tax Act
Surcharge and Marginal Relief
Surcharge for Domestic and Foreign Companies
Education and SHE Cess
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

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Instructor Biography

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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