Income Tax Practitioner Course

-:Income Tax Practitioner Course: -

Course Name: Course Duration:
Income Tax 4 Days
Practitioner Course
Minimum Qualification: Graduation
Documents Required: One Photo & One photocopy of qualification certificates
and Aadhar Card along with payment

About This Course:

Income Tax Practitioner course will lay emphasis on the practical aspects with a
solid knowledge base. Typical real life situations are covered under the syllabus. A
student will learn how to compute taxable income under the heads ― Salaries,
House properties, Business and Profession, Capital gains and other sources.
Moreover, they can also learn how to compute tax liability of an individual, HUF,
Firms, Companies etc. and how to file income-tax return in case of various assesses.
The students would get an idea about Indirect Taxes ― Excise duty, GST, Service
tax etc. and tax planning which attempts to reduce tax liability legally.

Income Tax Practitioner Course Benefits:

 Gives knowledge regarding tax system in India for students’ understanding

 Upon completion of course, the candidate will become a tax professional in
different tax planning strategies for their client
 Maintaining the tax compliance software system
 Developing, implementing, and improving processes
 Providing technical advice and staff assistance to executives, field managers,
and employees
 Practical focus on the trending affairs

Who Should Attend:-

 Graduate Commerce/Arts/Engineering
 Chartered Accountant/Cost Accountant/Company Secretary
 Law Graduate/Advocate
 Head of the Finance Department/CFO/Directors/Tax Head/Finance Controller
 Individuals/beginners seeking career opportunity in the taxation domain.
 Professionals who want to shift from finance to GST domain.
 Finance professionals who want deal in taxation to meet their professional need.
 -: Course Details:-
DAY 1st

A. Income Tax Basics  Brief History

 Concept & difference in
Direct Tax Vs Indirect Tax
 Source of Income
 Rate of Income Tax type of
assesses
 Residential status of a person
B. Income from salary  Definition of salary
 Basic of Charge
 Perquisite and Allowance
 Treatment of Pension &
Gratuity
 VRS
 Deduction from Salary
 Standard from salary
 Professional Tax
 Calculation of Net Taxable
Income from Salary
 Relief under Section 89
 Practical Case Studies
C. Income from House  Basic of Computing Income
Property from Let Out House Property
 Concept of Gross Annual
Value
 Deduction under Section 24
 Interest on Pre-Construction
Period and Post Construction
Period
 Computation of Taxable
Income from Self Occupied
Property
 Computation of Annual Value
of 1 Self Occupied Property
 Provision of Unrealized Rent
if realized subsequently
D. Income from Business /  Chargeability (Section 28)
Profession  Allowance Expenses
 Concept of Deprecation
 Rate of Deprecation
 Additional Deprecation
 Amortization of Expenses in
case of Amalgamation /
Merger etc.
  Bad Debts and its treatment
 General Deduction as per
Section 37
 Amount Not Deduction as per
Section 40
 Amount exceeding Rs 20000/
Rs 10000
 Payment to specified person
 Provision related to Gratuity/
other statutory liability
 Deduction on payment basis
under section 43B
 Balancing charge
 Presumptive Taxation under
PGBP (Section 44AD,
44ADA etc)
 Maintenance of Books of
Accounts

DAY 2nd

A. Income from Capital  Chargeability under Section 45

Gain  Meaning of Capital Assets
 Types of Capital Assets
 Definition of Transfer { (Section
2(47)}
 Long term Vs Short Term Capital
Gain
 Concept of Indexation
 Expenditure on Transfer – Cost
of Acquisition / Improvement
 Computation of Capital Gain
when insurance claim received
 Exemption under Capital Gain
 From transfer of residential
house property (Section 54)
 Transfer of land used for
agriculture purpose
 Investment on certain bonds
 Transfer of Capita Assets other
then house property
 Capital gain not to be charges in
investment in units of specified
fund
B. Income from Other  Chargeability under Section 56
Sources  Dividend
 Winning from lottery/ horse races
etc.
 Interest on Securities
  Money / Property received
without / inadequate
consideration
 Valuation of the purpose of
chargeability
 Receipt of Shares by a firm /
closely held company
 Interest on KVP/ NSC/ IVP
C. Clubbing of Income and  Transfer of Income without
Set Off of losses Transfer of Assets Section 60
 Revocable Transfer of Assets
Section 61
 Remuneration Transfer of Assets
Section 61
 Remuneration of Spouse
 Income from Assets transferred
to Spouse/ Sons Wife
 Income of Minor Child
 Conversion of Self Acquired
Property into Joint Family
 Property and subsequent
partition {Section 64(2) }
 Set of losses under same head
of Income
 Set of losses between inter head
of Income
 Carry forward of losses
 Carry forward and set off of
business losses and deprecation
in case of merger and
amalgamation
D. Deduction under Chapter  80C Deductions: LIC, PF, PPF
VI- A etc.
 80CCC: Pension Plan
 Section 80CCD: [Deduction in
respect of contribution to pension
scheme of Central Government]
 80 CCG: Rajiv Gandhi Equity
Scheme for Investments in
Equities
 80 RRB: Deduction in respect of
Royalty on Patents
 80 QQB: Deduction on Royalty
income to Author of certain
books
 Section 80D: (Medical Health
Insurance)
 Section 80E: Interest on
Education Loan
  Section 80EE : Interest on Home
Loan
 Section 80DD: Deduction in
respect of maintenance including
medical treatment of a
dependent with disability.
 Section 80DDB: Deduction in
respect of medical treatment on
specified disease
 80U: Deduction in case of a
person with disability
 80GG: Deduction where House
rent is paid and HRA not
received
 80GGA: Deduction in respect of
certain donations for Scientific
Research or Rural Development
 80GGC: Deduction in respect of
contributions given by any
person to Political Parties
 80TTA: Deduction in respect of
interest on deposits in Savings
Account
 80TTB : Deduction in respect of
interest from deposits held by
Senior Citizens
 80G: DONATIONS

DAY 3rd

A. Tax Deducted at Sources & Section Details as follows:

Tax Collection at Sources ( 192,192 A,193,193,194,194 A,194
TDS & TCS ) A, 194 B,194 BB, 194 D, 194 DA,
194 EE, 194 G, 194 H, 194 I, 194 I,
194 IB, 194 IA,194 L B,194 LD
B. Computation of total income Practical Case Study for
Computation of total Income
C. Assessment  Types of assessment under
Income Tax Act,1961-
 Self Assessment –u/s 140 A
 Summary assessment –u/s
143(1)
 Scrutiny assessment –u/s
143(3)
 Best Judgment Assessment
–u/s 144
 Protective assessment
  Re-assessment or Income
escaping assessment –u/s
147
 Assessment in case of
search –u/s 153 A

DAY 4th

A. Return of Income Type of Income Tax Returns

 ITR 1- Individual
having Income from Salaries,
one house property, other
sources (Interest etc.) and
having total income
upto Rs. 50 lakh
 ITR 2- Individual and HUFs
not carrying out business or
profession under any
proprietorship
 ITR 3- Individual and HUFs
having income from a
proprietary business or
profession.
 ITR 4- presumptive income
from Business & Profession
Filling of Income Tax Return with
examples
a. Online / Offline
b. Due Date of filling of Return
c. Revised Return
d. Belated Return
e. Defective Return
B. TDS Return Practical Exposure for filling of TDS
Return
C. Other Topics  Penalties under Income Tax
Act
 Offences Prosecutions under
IT Act
 Provision related to search &
Seizure under Income Tax
 Calculation of Advances Tax
 Calculation of Minimum
Alternate Tax (MAT)
 Calculation of Interest under
Section 234
  Brief discussion on ICDS
(Income Computation &
Disclosure Standard)
 Provision of Income Tax
Audit
 Other Misc. Topics

D. Exam and Certificate  Evaluation of the Course

Distribution  Certificate Distribution

Address for Communication:

Principal Director, MSME- Technology Development Centre (PPDC),
Foundry Nagar, Hathras Road,
Agra-282006 (U.P.)