Definition of capital assets- kinds of capital assets-Transfer – short term and long term capital gains-cost of acquisition- cost of improvement-deduction and exemption- computation of capital gains

Specific income chargeable to tax- general income chargeable to tax- Deduction – Interest on securities – Computation of income from other sources

Aggregate of income-Deemed income -set off and carry forward of losses- Clubbing provisions and their Implications -Deduction available from gross total income.

Assessment of individual- Computation of total income of the assessee and Tax liability

Assessment procedure-Filing of return- Permanent Account Number (PAN) – Types of assessment-self-Provisional, Regular, Best-judgement and Re-assessment