Course Name : Income Provident fund types and

Tax Law treatment

(Taxation) Computation of salary
Course Code : MGT300
Calculation of tax payable
Course Hours : 03
Semester : 4th Relief and allowances
Total Weeks : 16/18 Week 6:
Total Hours : 48/54 Interest on Securities
Week 1: Conditions of Taxability of
Introduction interest
Nature and importance of tax Scope of interest on securities
Objectives of taxation Allowable deductions
Scope of income Tax law Tax free securities
Components of income tax Crossing up of income from
law interest on securities
Week 2: Week 7:
Definitions Income from Property
Agricultural income Scope of income from house
Assesses property
Assessment year Annual lathing value
Business Allowable deductions
Capital asset Liability in case of co-owners
Week 3: Property exempt from tax
Dividend Week 8:
Income Income from Business Profession
Person Taxability of business and
Principal officer property
Registered firm Scope of business and
Return of total income profession
Resident/non-resident Allowable deductions
Total income Inadmissible expenses
Total word income Week 9:
Week 4: Depreciation
Income Exempt from Tax Conditions for allow ability of
Income exempt from tax and depreciation
not to be included in total Kinds of depreciation
income allowance
Income exempt from tax but Week 10:
included in total income Capital Grains
Week 5: Definition
Salary Computation
Features of salary income Determination of acquisition
Scope of salary income cost
 Exemption of capital gains Taxable income
Week 11: Tax payable
Income from other Sources
Income charged under this Text Books
head Income Tax Principles and Practice
Allowable deductions (Latest) By Muhammad Muazzam
Week 12: Mughal
Registration of Firm
Grant of registration
Cancellation of registration
Grounds for refusal of
registration
Privileges of registered firm
Assessment of firms and
partners
Week 13:
Assessment Procedure
Cycle of assessment
Legal promising regarding
filing of Income tax returns
Assessment and its types
Limitations of assessment
Payment, recovery and refund
of tax
Week 14:
Set-off and carry forward of losses
Loss from source of income
Set-off losses
Carry forward of losses
Week 15:
Income Tax Authorities
Central board of revenue
(CPOR)
Director general of inspection
Regional commissioner
Commission of income tax
Inspector of income tax
Income tax of office (ITO)
Tax recovery officer
Week 16:
Assessment of Individual
Total income of individual