Important definitions in the income – tax Act, 1961– Basis of Charge; Rates of taxes applicable for different types of assesses- Concepts of previous year and assessment year- Residential status and scope of total income – Exempted Income.

Income from salary- Income from house property-Case study.

Income from Business or Profession.

Income from Capital Gains-Income from other sources-Case study.

Income of other persons included in assessing total income – Aggregation of Income; Set-off or carry forward and Set-Off losses-Deduction from Gross Total Income-Computation of Total Income and Tax payable.