Brief Introduction
A detail practical course on Income Tax India, as amended by Finance Act 2020Description
This course on "Practical Approach to Income Tax in India" contain a complete & detail analysis with practical examples. All the relevant amendments up to Finance Act 2020 are covered in this course. Student will also get he detail Study Notes, Charts & Excel computation sheet for easy understanding.
This Course includes the below topics in detail-
I. Introduction to Income Tax
Basic Introduction to Income Tax Act
What is Assessment Year?
Who is Assessee?
Heads of Income under Income Tax Act,1961
Difference between Exemptions & Deductions
Slab Rates (as amended by FA 2020)
Sec 115 BAC for new slab rates for individuals
Rebate under section 87A
Surcharge & Education Cess
Sec 139 – Return of Income
How to Register on e filing portal
Reset password of e filing portal
II. Income Tax Return-1 (SAHAJ)
Who Can File ITR 1
Documents Required for ITR 1
How to view 26AS
Reconcile Form 26AS with Form 16
ITR 1 Filing – General Information Tab
ITR 1 Filing – Computation of Income
ITR 1 Filing- E Pay Tax Online
Verification of ITR 1
III. Income Tax Return-2
Eligibility to File ITR ITR 2
Excel Utility Overview for filing Income Tax Return ITR 2
Java Utility Overview for filing Income Tax Return ITR 2
Understand Schedules of Income Tax Return ITR 2
How to prefill data in Income Tax Return ITR 2
Live ITR filing & XML generating
IV Income Tax Return -3
Eligibility for Income Tax Return 3
Understand Schedule of Income Tax Return 3
Filing of Income Tax Return 3
V Income Tax Return 4 (SUGAM)
Understand concept of presumptive taxation as per Sec 44AD
Understand who is eligible to file Income Tax Return 4
Learn to file ITR 4 with Live Demo of online filing
VI Restriction on Cash Transactions by Income Tax Department
Understand Dis allowance of Cash Expenditure under Section 40A
Understand sec 194N, TDS on cash withdrawal from Bank
Learn about the SFT Significant Financial Transactions/High Value Transactions
Understand the section 285BA along with Rule 114E for High Value Transactions
VII Tax Deducted at Source
TDS Basics
TDS on Salary Computation
TDS Return other than Salary - Form 26Q
TDS Return for Salary - Form 24Q
VIII Account Finalization
Balance Sheet and PnL preparation (with adjustment)
Requirements
- Requirements
- Be able to understand Hindi
- Be able to understand general commerce terms
FINTAXPRO ADVISORY LLP
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