Fundamentals Of Income Tax

Master the Basics of income tax law in India

What you'll learn

Basic Concepts of the Income Tax Law

What are the Different Applicable Tax Rates?

How to Determine Residential Status of an Individual?

Income Tax Updates in the Budget 2023

Requirements

No Additional knowledge needed but a basic understanding of business terms and general awareness

Description

Tax is considered difficult to understand, but it becomes easy when you know the fundamentals. Here we are with the fundamentals of the Income Tax Law in India.Income Tax is the tax on a person's income earned in India. Still, the tricky part is understanding what exactly income means, what a person is, and when that income is considered made in India based on the Residential status.Income Tax Act 1961 is the pioneer law in India, and the course on Fundamentals of Income Tax includes:Introduction to the Income Tax Law, Meaning & Concept of Taxation, What is an assessee, what is assessment year, what are the different tax rates according to the old and new regime. How to Determine the residential status of an Individual?Every year government brings some changes to the Income Tax Law in practice. What are the changes brought to the Income Tax in this year's budget by our Finance Minister Nirmala Seetaraman?This course will make you understand the different fundamental concepts, which will help you understand any difficult part independently.The course has 5 lectures on the topics of introduction to income tax, tax rates, assessment & previous years, meaning and definition of a person, Budget 2023 updates, and determination of the residential status. Also, there is an MCQ Assignment at the end. There are Powerpoint presentations attached with every lecture so as to help the learners track their study.

Overview

Section 1: Basic Concepts of Income Tax

Lecture 1 Introduction to Fundamentals of Income Tax

Lecture 2 What is Income Tax ?

Lecture 3 What is an Assessment Year ?

Lecture 4 Who is an Assessee ?

Lecture 5 Residential Status of an Individual

Lecture 6 Income Tax Updates in Budget 2023

Individual Tax Planners,Professional Tax Consultants,Businessmen,Students pursuing CA/CS/CMA/ACCA/CFA/MBA/LLB