Income Tax & GST Basics with Computation

Overview

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Master direct and indirect tax concepts to confidently compute income and manage tax liability. Learn how to apply taxation rules across salary, capital gains, business income, and more. This course provides a structured and practical approach to understanding taxation, covering both direct and indirect tax systems. You will learn key concepts such as residential status, income classification, exemptions, and deductions, along with their impact on total taxable income. Through step-by-step modules, the course explores salary components, house property income, capital gains, and business income, enabling you to accurately compute tax liability. You will also gain insights into tax-saving strategies and classification of income from other sources. By the end of the course, you will be able to interpret tax laws, perform accurate calculations, and make informed financial decisions with confidence. Ideal for students and professionals, this course builds a strong foundation in taxation and equips you with practical skills for real-world application and compliance.

Syllabus

Foundations of Taxation & Income Concepts

This module introduces the fundamental principles of taxation, including the definition and types of taxes, core income concepts, and the importance of residential status in determining tax liability and scope of total income.

Exemptions & Salary Essentials

This module explores various tax exemptions and salary-related components, including gratuity, pension, allowances, and retirement benefits, helping learners understand tax treatment and exemptions applicable to employment income.

House Property Income & Computation

This module focuses on the taxation of income from house property, covering ownership concepts, deemed ownership, and step-by-step computation of taxable income including deductions and annual value calculations.

Capital Gains & Advanced Salary Concepts

This module covers taxation of capital gains, including types of assets, cost inflation index, and exemptions, along with advanced salary components such as perquisites and leave encashment.

Business Income, Deductions & Other Sources

This module provides insights into taxation of business and professional income, allowable deductions, tax-saving provisions, and classification of income from other sources such as dividends, interest, and winnings.