Thus, income belonging to a particular category is taxed under a separate head of income pertaining to that category. Com fifth semester income taxi exam previous years question papers about b. History of income tax in india is about 150 years old. Hi bcom students, i am sharing pdf notes, ebook for the b. In which year income tax was levied in india for the first time. Income of a person is classified into 5 categories. For example, national income of a country for a single year is not statistics but the same for two or more years is statistics. Com income tax study material free ebook download as pdf file. Business enterprises use accounting for their daytoday activities and to report the result of these activities to their owners, creditors, employees and governmental agencies. Com hons iiird sem 2012 b com notes edurev is made by best teachers of b com. House property income from more than one house,loan taken on more than one houses.
This document is highly rated by b com students and has been viewed 7102 times. The royal commission on taxation for canada has explained the. Discuss bba, income tax papers within the direct and indirect taxes d i tax forums, part of the resolve your query get help and discuss projects category. To gain knowledge about the direct tax laws in force for the relevant previous. The students are exposed to details of indirect taxes like customs and central excise tax, wealth tax, etc. You should confirm all information before relying on it. Income exempted and those forming part of total income but no income tax is payable. Beginning of income tax by sir james wilson in 1860 in india.
One or more companies may merge with an existing company or they may merge to form a new company. The course covers the study of principles of accounting, financial planning and economic theory along with a specialized focus on taxation which is termed as a process of imposing financial charge tax on the citizens who earn taxable income. Need corporate accounting new syllabus notes for bcom. Before his joining any employment with that person or. T two year pass course examination effective from session 20012003 and onward. Sep 30, 2015 may 10, 2020 du paper income tax law and practice b. Income section 224 though iincome is a very important word for the income tax act but no precious definition of the word oincome is attempted under the income tax act, 1961. Income, agricultural income, casual income, assessment year, previous year, gross total income, total income, person. Buy online income tax, gst, company law, insolvency. The university is located at shivagangothri campus at tolahunase, 9 km from davangere city. Accounts and taxation elective ebookhandout pdf download. The bachelor of commerce degree is designed to provide a student with a wide range of managerial skills while at the same time, builds competence in a particular area of business studies see below. Bcom fifth semester sem notes year of 2017 syllabus notes. Bachelor of commerce is being offered by the university for quite a longer period and this threeyear course is divided into six semesters.
This is a discussion on bcom ii economics notes chapter3 within the bachelor of commerce bcom forums, part of the all others. The going concern principle is the assumption that an entity will remain in business for the foreseeable future. Laws in india use the term amalgamation for merger for example, section 2 ia of the income tax act, 1961 defines amalgamation as the merger of one or more companies called amalgamating company or companies with. Bc307 programming with c dse2a 5 5 total 31 30 semesteriv 22. Accountancy, cost account, statistics, economics, and law are the main subjects. Or discuss in detail the tax treatment under the income tax ordinance 2001, for the following facilities provided by employer to the employees. Topics covered in accounts and taxation elective ebooknotes pdf for bcom elective.
For charging tax under income under the salary the foremost requirement is that the relationship of employer and employee must subsist between the payer and payee. Or briefly explain the legal provisions governing the filing of total income under the income tax ordinance 2001. Industries play a dominant role in the economic development of a country. According to section 2 1b of the income tax act, 1961, the term amalgamation means.
Employer can adjust loss from house property income where house is let out. This document is highly rated by b com students and has been viewed 10434 times. Taxation, bachelor of commerce in taxation, syllabus. Continuous discharge certificate in respect of joining the ship by the said. Com fifth semester income tax i exam previous years question papers about b. Even if the person is in employment with more than one employer, all kinds of benefits extracted from such kind of contract would be taxable under income under the head salaries. Dec 29, 2018 the going concern principle is the assumption that an entity will remain in business for the foreseeable future. Com corporate accounting notes, ebook free pdf download updated syllabus i hope these can be of help to you. Students can download karachi university bcom part 2 auditing and income tax law past papers online at this page. Download cbse notes, neet notes, engineering notes, mba notes and a lot more from our website and app. It is the practice of the company to transfer 20% of the profit to reserves. Diverse aspects on different types of tax such as income tax, value added tax or vat, service tax, property tax, etc are covered under the course. Com part 2 auditing and income tax law karachi university past papers of all previous years are uploaded here. A applies for a loan at a bank or when a submits his.
Law and practice of income tax in india, navmann prakashan, aligarh income tax manual, government of india. Bachelor bcom bcom extended in accounting, johannesburg. For example, sale of a product depends on a number of factors such as its price, quality, competition, the income of. Conversely, this means the entity will not be forced to halt operations and liquidate its assets in the near term at what may be very low firesale prices. Davanagere university bcom study material and notes davanagere university bcom study material. Com corporate accounting new syllabus notes here b. Tax rate of assessment year income of previous year is chargeable to tax in the next following assessment year at the tax rates applicable for the assessment. The average profit for the last 4 years after income tax is rs. Income tax law and accounts, agra book store sundram, v. Sale of house with in 5years,80c benefits is to be reversed.
Understand the basic principles underlying the income tax act. The bcom extended degree in accounting is aimed at access for success in terms of its foundational provision, i. When one or more companies merge with another existing company or two or more companies merge to form a new company, it is known as amalgamation. Ignou bcom eco11 elements of income tax study material dear learners, the full downloadable free study materials of eco11 elements of income tax are listed below to facilitate your studies for securing good marks in upcoming term end examinations. May 10, 2020 du paper income tax law and practice b. Income agricultural income person assessee assessment year previous year gross total income total income maximum marginal rate of tax residential status scope of total income on the basis of residential status exempted income under section 10. University of the punjab syllabi and courses of reading of b. Or enumerate the income tax authorities under the income tax ordinance 2001. Ii 2015 b com notes edurev is made by best teachers of b com. Courses in vith semester degree university of calicut. At a minimum, i want students who have completed basic income tax to know these principles and to be able to apply them, i. Students are given foundational provision covering relevant academic skills together with subjectrelated themes, required to facilitate learning in the regular modules of. Capital gains shall be chargeable to tax if following conditions are satisfied.
I am sure these quality notes on accounts and taxation will help you prepare well for your b. It is 3 years under graduation course that provides you wide career opportunities in accounts, commerce, management fields. Mar 20, 2017 hi bcom students, i am sharing pdf notes, ebook for the b. Tax avoidance is a method reducing tax incidence by availing of certain loopholes in the law. Davanagere university bcom study material and notes cakart. Particulars rate bank interest 10% casual income 30% insurance commission 10% interest received on securities issued by stationery bodies or local authority 10% listed securities and unlisted securities 10% grossing up formula for grossing up of income net income x 100 100 tax rate rules of grossing up of interest if the. This intuition will serve well the student who wishes to take more tax classes.
Com notes, videos all bcom regular subjects app apps on. Aug 11, 2008 the average profit for the last 4 years after income tax is rs. Income tax definition ii table of contents business taxation. Income tax pdf books in hindi free downloads 2000 shareware periodically updates software information and pricing of income tax pdf books in hindi from the publisher, so some information may be slightly outofdate. The minimum cart value to avail the emi for american express card holders is rs 5000. Topics covered in accounts and taxation elective ebooknotes pdf for. Chapter3 industrial development importance importance of industries.