Income Tax

Notes of income tax for commerce,accounting to learn easy.It almost cover all important topics which are given below

Unit – 1. Basic Concepts

Income

Agriculture income

Casual income

Assessment year & Previous Year

Gross total income, total income

Unit – 2. Heads of Income

Salaries Income

Income from House Property

Unit – 3. Profit and Gains of Business

Profit and gains of Business or Profession

Capital Gains

Income from other sources

Aggregation of Income

Set off and carry forward of losses

Unit – 4. Deductions from Gross Total Income

DEDUCTIONS FROM GROSS TOTAL INCOME

Total Income and tax liability of an Individual

H.U.F., and firm

Unit – 5. Concept of Tax Planning

Concept of Tax Planning

Tax evasion and tax avoidance