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Mastery in Income Tax

Including AY 2023-24 Amendments

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Instructor: CA Raj K Agrawal

Language: Hinglish

Validity Period: 90 days

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Welcome to our comprehensive course on Master the Basics of Income Tax India. This course is designed to provide you with a thorough understanding of income tax regulations and equip you with the necessary skills to navigate the complexities of taxes and taxation systems effectively.

Starting with an introductory message from the educator, we will explore the framework of tax laws, including an in-depth analysis of different types of taxes and their implications. You will gain insights into the Income Tax Act, rules, notifications, and the recent updates brought about by the Finance Act.

Understanding the significance of circulars and judicial decisions is crucial, and we will delve into their impact on Income Tax matters. We will also address the constitutional validity of income tax, shedding light on its legal foundations.

To grasp the practical aspects, we will discuss the concepts of previous year and assessment year, clarifying their distinctions. Furthermore, we will examine the definition of a person in the context of income tax and explore the roles of an assessee, deemed assessee, and the geographical scope of taxation within India.

Analyzing income for income tax purposes is essential, and we will cover the key considerations and relevant provisions. Additionally, we will focus on the unique aspects of taxation concerning Hindu Undivided Families.

Computation of total income will be thoroughly explained, including the tax rate slab for the Assessment Year 2024-25. We will also delve into the alternative tax slab provided under Section 115BAC, as well as specific tax rates applicable to cooperative societies, firms, LLPs, and domestic companies. The alternate tax provisions of Company 115BAA and 115BAB will also be covered.

Understanding surcharges, rebates, and rounding off calculations is crucial, and we will provide detailed insights into these elements. Through tax calculation illustrations, you will gain practical knowledge and learn how to apply the principles effectively.

We will explore marginal relief, income taxable in the current previous year, and address topics such as cash credit, unexplained money, investments, expenditures, and the concept of Hundi. Distinguishing between various elements will be highlighted, and you will gain a deeper understanding of maximum marginal rates, tax planning, avoidance, and evasion.

To reinforce your learning, we have included multiple-choice questions (MCQs) to test your knowledge and practical problems to enhance your problem-solving skills. This course will equip you with the expertise to navigate income tax laws confidently.

Whether you are a professional, entrepreneur, or a curious learner, this course offers valuable insights into income tax laws and computation. Join us now and embark on this educational journey to enhance your understanding and proficiency in income tax matters. This course is perfect for your Income Tax Preparation.

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