Tax Systems in India

1.   Basic Concepts

1. Introduction
2. Objectives
3. Importance, History, Present Act.
4. Meaning of Tax Management
5. Person [Sec 2(31)]
6. Assessee [ Sec 2(7)]
7. Meaning of Income [ Sec 2 (24)]
8. Gross Total Income (GTI) & Total Income
9. Assessment Year [ Sec 2 (9) ]
10. Previous Year [ Sec 3 ]
11. When Income is taxed in the same year in which it is earned.
12. Different Heads of Income
13. Who all have to pay Income Tax ?
14. How Income Tax will be charged by the Income Tax Department ?
15. What is Agricultural Income.
    

2.   Capital & Revenue

1. Introduction
2. Capital Receipt vs Revenue Receipt
3. Capital Expenses vs. Revenue Expenses
4. Capital Losses vs Revenue Losses

3.   Basis of Charge (Residential Status)

1. Introduction
2. Residential Status of an Individ
3. Residential Status of H.U.F., Firm, A.O.P.
4. Residential Status of a ‘Company’
5. Residential Status of ‘Every’ other Person

4.   Exempted Incomes

5    Tax Holiday (Sections 10A, 10AA, 10B & 10BA)

1. Free Trade Zone (FTZ) – Special Provision in respect of Newly Established Undertaking in Free Trade Zone.         
   1. Conditions to be satisfied
   2. Amount of Deduction-General Provisions
   3. Period and Rate of Deduction
   4. Transfer under a Scheme of Amalgamation or Demerger
      
      
2. Special Economic Zone (SEZ)- Special Provisions in respect of newly established units in special economic zone.
   1. Conditions to be satisfied
   2. Amount of Deduction
   3. Consequence for mercer and demerger.
      
      
3. 100% Export Oriented Undertakings (100% E.O.U.)
   1. Conditions to be Satisfied
   2. Amount of Deduction
   3. Period of Deduction
   4. Transfer under a Scheme of Amalgamation or Demerger
      
      
4. Income from Export of Artistic Handmade Wooden Articles
   1. Conditions to be Satisfied
   2. Amount of Deduction

6.   Tax Holiday- Deduction
(Sections 80-IA, 80-IAB, 80IB & 80IC)

1. Deductions In Respect Of Profits And Gains From Industrial Undertakings Or Enterprises Engaged In Infrastructure Development. [Sec. 80-IA]
   
   
2. Deductions In Respect Of Profits And Gains By An Undertaking Or Enterprise Engaged In Development Of Special Economic Zone[Sec. 80-IAB]
   
   
3. Deduction In Respect Of Profits And Gains From Certain Industrial Undertakings Other Than Infrastructure Development Undertaking.
   [Sec. 80-IB]
   
   
4. Special Provisions In Respect Of Certain Undertakings Or Enterprises In Certain Special Category States- How To Find Out [Sec. 80-IC]

7.   Tax Rates

8. Constitutional Provision Governing Taxation in India

9. Taxes to be imposed only by Authority of Law [ Article 265]