Income Tax Act , 2025

This class is designed for B.Com students who want to develop a strong conceptual and practical understanding of the Income Tax Act, 2025. It is suitable for undergraduate students preparing for university examinations, improving their academic performance, or building a foundation in taxation for future professional studies and careers in accounting, finance, and taxation.

Students will learn the fundamental concepts and terminology of income tax, including the previous year, assessment year, assessee, person, income, and agricultural income. The class will cover residential status and its significance in determining taxability. Students will also study the major heads of income, including Income from Salary, Income from House Property, Profits and Gains of Business or Profession, Capital Gains, and Income from Other Sources. Special attention will be given to exemptions, deductions, computation of total income, taxable income, and tax liability. Practical numerical problems will be solved step-by-step to develop students' confidence and accuracy.

Students should have a notebook, pen, calculator, and their prescribed course or study material for effective participation. No advanced knowledge of taxation is required. Basic knowledge of accounting and elementary mathematics will be helpful but is not compulsory.