Indian Income Tax On Salary Income Of Individual & Huf

Understanding of Salary Taxation and Planning for Investments, Effective Tax Planning and Save Income Tax

What you'll learn

Residential Status as per Income Tax Act 1961

Basis of Salary Taxability

House Rent Allowance (HRA) Exemption

Leave Encashment Exemption

Gratuity and PPF Provisions

Process of Form 10E for Relief Under Section 89

Definition of Salary and Its Components

Various Exemptions and deductions available to Salary Taxpayers Such as 80C, 80D i.e. Chapter VI A deductions

Old v/s New Tax Regime u/s 115 BAC

Requirements

No Specific Knowledge or Material is required as the same will be provided in this course

Passion for learning and understanding to correctly plan the tax for salary income and save the tax by appropriately investing as per requirements of Income Tax Act

Description

Income Tax of Salaried Individuals & HUF has become very important in current dynamic environment of Changing laws almost everyday and one can effectively manage the same to save tax along with building a large corpus by saving tax and consistently earmarking the funds for tax saving investments as per Income Tax Act, 1961.In this course,  provision of Income Tax along with relevant section and to make understand how those sections should be interpreted and implemented for calculation of tax on salaried individual.We will discuss about Five Heads of Income , how to calculate tax , exemptions, deductions and other relevant matters.This course will be consistently updated for updates in salary taxation and can be attended by Salaried Individual and Corporate Employees also who are into the field of taxation.After attending this course, person will be able to understand and take informed decisions of Tax , ITR and how TDS is calculated and deducted by Corporates.We will also touch upon the TDS provisions relating to Salary in Corporates which will help to understand and be comfortable for TDS as a part of life and take forward the same in positive manner and use the same as opportunity to build a corpus by using tax saving investments and parallelly be part of Nation Building.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Why Tax by Government & Applicable Laws

Lecture 2 Why Tax by Government

Lecture 3 Type of Taxes and Applicable Laws in India

Section 3: Basis of Salary Income Taxability

Lecture 4 Basis of Salary Income Taxability

Section 4: Residential Status and It's Importance

Lecture 5 Type of Residential Status and Why is it Important to determine

Lecture 6 Resident

Lecture 7 Resident and Ordinary Resident (ROR) & Resident but Not Ordinary Resident (RNOR)

Lecture 8 Non Resident (NR)

Section 5: Tax Deducted at Source (TDS) and whose Responsibility

Lecture 9 What is TDS

Lecture 10 TDS DEDUCTION RESPONSIBILITY

Lecture 11 TDS Cycle

Section 6: Income Tax on Salary

Lecture 12 Definition of Salary

Lecture 13 Place of Accrual of Salary

Lecture 14 House Rent Deduction (HRA)

Lecture 15 TDS on Rent More than 50,000 per month (Landlord Resident or NRI)

Lecture 16 Leave Encashment Exemption Under Section 10(10AA)

Lecture 17 Form 10E for Relief u/s 89(1)

Lecture 18 Taxation Rules for Gratuity U/S 10(10)

Lecture 19 PPF Maturity Principal and Interest Exempt U/S 10 (11)

Section 7: Deduction Under Chapter VIA

Lecture 20 Deduction Under Section 80C, 80CCC, 80CCD(1), 80CCE, 80CCD(1B)

Lecture 21 NPS- 80 CCD

Lecture 22 80 TTA and 80 TTB

Lecture 23 80GG

Lecture 24 80D

Lecture 25 80DDB

Lecture 26 80DD & 80U

Lecture 27 80E, 80EE, 80EEA, 80EEB

Lecture 28 80G

Lecture 29 80GGB, 80GGC, 80RRB, 80QQB

Section 8: New Tax Regime on Section 115BAC

Lecture 30 All About New Tax Regime and Deductions available

Section 9: Tax Slabs

Lecture 31 Tax Slabs Under Old Tax Regime & New Tax Regime, Surcharge, Rebate-87A ITR Forms

Section 10: ITR Forms

Lecture 32 Average Rate of Deduction & Tax Deduction and Remittance

Section 11: Yeah! You Done It !

Lecture 33 Yeah! You Done It !

This course is for Corporates, Firms, Individuals, HUF, Salary Individuals and Corporate employees who is responsible for Tax Deduction,Start Up companies who wants to make tax compliant salary structure for win-win situation for both Employers and Employee,Develop the maturity and understanding why tax is deducted by the employers and why Government need the tax on monthly basis