Taxation with Returns

Course Description

This course provides an in-depth understanding of Income Tax in India, covering fundamental aspects such as residential status, income from house property, TDS, capital gains, income from other sources, and profits and gains of business or profession. Additionally, the course delves into practical applications, including TDS return filing and income tax return filing. By the end of this course, participants will be equipped with the knowledge to manage and optimize their tax liabilities effectively.

What Will You Learn?

• Understand the significance of residential status in Income Tax
• Learn about income tax rates and deductions available under different sections
• Gain knowledge of TDS, its rates, and the process for filing and correcting TDS returns
• Comprehend the concepts of capital gains, including short-term and long-term gains and available exemptions
• Explore income from other sources and its taxation, including dividends and interest income
• Understand the profits and gains of business or profession, along with allowable deductions and the presumptive taxation scheme
• Master the process of filing income tax returns and learn basic tax-saving strategies

Course Curriculum

Introduction to Income Tax

• Residential Status and its significance
• Overview of Income Tax Rates

Income from House Property

• Concepts of House Property income
• Deductions under Section 24

Tax Deducted at Source (TDS)

• Basics of TDS and key rates
• Filing and correction of TDS returns

Capital Gains

• Definition of Capital Assets
• Short-term vs Long-term capital gains
• Exemptions for capital gains

Income from Other Sources (IFOS)

• Types of income under IFOS
• Taxation of dividends and interest income

Profits and Gains of Business or Profession (PGBP)

• Overview of PGBP
• Allowable deductions and depreciation
• Presumptive taxation scheme

Additional Topics

• Employee Salaries Management
• Filing Income Tax Returns
• Basic tax-saving strategies

Real-Time Tasks

• TDS – 24Q Returns
• TDS – 26Q Returns
• TDS – 27Q Returns
• TDS – 27EQ Returns
• Income Tax Returns