Income Tax & GST Basics with Computation

This course is part of Tax Planning, GST & Compliance Program Specialization

Instructor: EDUCBA

Access provided by SR University

5 modules

Gain insight into a topic and learn the fundamentals.

11 reviews

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

5 modules

Gain insight into a topic and learn the fundamentals.

11 reviews

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

What you'll learn

Compute taxable income across salary, business, capital gains, and other sources.
Apply tax rules, deductions, and exemptions accurately.
Understand direct and indirect tax concepts for compliance and planning.

Skills you'll gain

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Assessments

20 assignments

Taught in English

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This course is part of the Tax Planning, GST & Compliance Program Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 5 modules in this course

Master direct and indirect tax concepts to confidently compute income and manage tax liability. Learn how to apply taxation rules across salary, capital gains, business income, and more.

This course provides a structured and practical approach to understanding taxation, covering both direct and indirect tax systems. You will learn key concepts such as residential status, income classification, exemptions, and deductions, along with their impact on total taxable income. Through step-by-step modules, the course explores salary components, house property income, capital gains, and business income, enabling you to accurately compute tax liability. You will also gain insights into tax-saving strategies and classification of income from other sources. By the end of the course, you will be able to interpret tax laws, perform accurate calculations, and make informed financial decisions with confidence. Ideal for students and professionals, this course builds a strong foundation in taxation and equips you with practical skills for real-world application and compliance.

This module introduces the fundamental principles of taxation, including the definition and types of taxes, core income concepts, and the importance of residential status in determining tax liability and scope of total income.

What's included

7 videos4 assignments

7 videosTotal 38 minutes

Definition of Tax and Types of Tax6 minutes
Concept of Income6 minutes
Income and other concepts6 minutes
Basic of Residential Status3 minutes
Residential Status of Individual & HUF8 minutes
Residential Status and Scope of total Income6 minutes
Income deemed to Accrue or Arise in India and capture-13 minutes

4 assignmentsTotal 60 minutes

Graded - Foundations of Taxation & Income Concepts30 minutes
Understanding Taxation Basics10 minutes
Deep Dive into Income Concepts10 minutes
Residential Status & Tax Scope10 minutes

This module explores various tax exemptions and salary-related components, including gratuity, pension, allowances, and retirement benefits, helping learners understand tax treatment and exemptions applicable to employment income.

What's included

7 videos4 assignments

7 videosTotal 56 minutes

Introduction - Income Exempt From Tax8 minutes
Gratuity and Pension5 minutes
Retrenchment, VRS, Super Annuation11 minutes
HRA, Scholarship, Awards, Dividend and Minor Child6 minutes
HRA, Scholarship, Awards, Dividend and Minor Child continues8 minutes
Definition of Salary8 minutes
Components of Salary10 minutes

4 assignmentsTotal 60 minutes

Graded - Exemptions & Salary Essentials30 minutes
Introduction to Tax Exemptions10 minutes
Compensation & Retirement Benefits10 minutes
Salary Structure & Components10 minutes

This module focuses on the taxation of income from house property, covering ownership concepts, deemed ownership, and step-by-step computation of taxable income including deductions and annual value calculations.

What's included

6 videos4 assignments

6 videosTotal 31 minutes

Definition of Income From House Property4 minutes
Ownership, Deemed Owner, Income Not Chargeable to Head6 minutes
Calculation - 13 minutes
Calculation - 27 minutes
Calculation - 35 minutes
Leave Travel Concession & Format of Salary6 minutes

4 assignmentsTotal 60 minutes

Graded - House Property Income & Computation30 minutes
Basics of House Property Income10 minutes
Property Income Calculation (Part 1)10 minutes
Property Income Calculation (Part 2)10 minutes

This module covers taxation of capital gains, including types of assets, cost inflation index, and exemptions, along with advanced salary components such as perquisites and leave encashment.

What's included

8 videos4 assignments

8 videosTotal 51 minutes

Introduction of Capital Gains4 minutes
Types os Capital Assets7 minutes
Cost Inflation Index7 minutes
Exemption6 minutes
Exemptions under 54 G & 54 GA,Computation of Capital Gain4 minutes
Gratuity & Leave Encashment7 minutes
Perquisite & Specified Employee9 minutes
Perquisites (Continues)7 minutes

4 assignmentsTotal 60 minutes

Graded - Capital Gains & Advanced Salary Concepts30 minutes
Introduction to Capital Gains10 minutes
Capital Gains Computation10 minutes
Advanced Salary Components10 minutes

This module provides insights into taxation of business and professional income, allowable deductions, tax-saving provisions, and classification of income from other sources such as dividends, interest, and winnings.