Course in ITR & TDS

Updated by Finance Act 2024 (Part 2) this Practical Course in Income Tax Return (ITR) & Tax Deducted at Source (TDS) is designed to provide participants with a comprehensive understanding of the nitty-gritties of Income Tax, along with its dynamic nature. This course aims to facilitate the learning, understanding, practical application, and analysis of the provisions of Income Tax in problem-solving scenarios. By adopting a complete practical approach, this course presents the concepts in a lucid manner, enabling participants to effectively navigate the complexities of Income Tax. It is worth mentioning that the course has been updated to incorporate the changes introduced by the Finance Act 2024. Detail Course Content is provided below :-

ITR Course Content

1. 1. Basic Concepts of Income Tax
      • Overview of Income Tax & Direct Tax
      • Important definitions
      • Finance Act 2023 Analysis
      • Previous Year and Assessment Year
      • Charge of Income Tax
      • Types of Assessee
      • Rate of Tax for different assessee
      • Surcharge, Health & education cess
      • Gross Total Income & Total Income
      • Rebate of (Sec 87A)
   2. Residential Status
      • Basis Conditions for Resident
      • Additional Condition for Resident and Ordinary Resident
      • Non Resident and Resident but not ordinary resident
      • Deemed Resident
      • Scope of Total Income
   3. Income under the head Salary
      • Basis of Charge (Sec 15)
      • Different type of allowances
      • HRA Calculation [Sec 10(13A)]
      • Calculation of Salary in Arrear
      • Calculation of Pension
      • Calculation of Gratuity
      • Calculation of Leave Encashment
      • Calculation of Provident Fund as updated by FA 2023
      • Overview of Forms related to Salary
        • Form 10E Filing – Arrear of Salary
        • Overview of Form 24Q -TDS Return for Salary
        • Form 16 – TDS Statement
        • Form 12B – Details of income from previous employer
        • Form 12BA – Statement of perquisites
        • Form 12BB – Particulars of deduction claims by employee
      • Valuation of perquisites
        • Valuation of Rent Free Accommodation (RFA)
        • Valuation of Motor Car Facility
      • ITR Filing by Pensioners as updated by FA 2024
   4. Income under the head House Property
      • Chargeability (Sec 22)
      • Condition of Chargeability
      • Composite Rent
      • Deemed Let out Property
      • Determination of Annual Value (Sec 23)
      • Deduction from Annual Value (Sec 24)
        • Standard Deduction
        • Interest on Loan
      • Unrealized rent treatment
      • Deemed ownership
   5. Income under the head Business & Profession
      • Chargeability (Sec 28)
      • Method of Accounting
      • Income computation & disclosing standards (ICDS)
      • Speculative Business & Specified Business
      • Calculation of Depreciation
      • Admissible Deduction (Sec 30 to 37)
      • Inadmissible deduction (Sec 40)
      • Maintenance of Accounts (Sec 40AA)
      • Audit of Accounts (Sec 44AB)
      • Presumptive Taxation (Sec 44AD, 44ADA, 44AE)
   6. Income the head Capital Gain
      • Capital Asset
      • Period of Holding
      • Short Term & Long Term capital gain
      • Transfer [Sec 2(47)]
      • Scope & Chargeability (Sec 45)
      • Capital Gain on assets distribution by companies in liquidation (Sec 46)
      • Capital Gain on buy back of shares (Sec 47A)
      • Mode of computation of Capital Gains (Sec 48)
      • Ascertainment of Cost in special circumstances (Sec 49)
      • Cost of acquisition (Sec 55)
      • Cost of improvement  (Sec 55)
      • Capital Gain on depreciable asset (Sec 50)
      • Capital Gain on Slump Sale (Sec 50B)
      • Deemed Full value consideration
      • Advance money receive
      • Exemption of capital gain
      • Reference to valuation officer
      • Tax on STCG on equity or equity oriented mutual fund (Sec 111A)
      • Tax on LTCH on equity or equity oriented mutual fund (Sec 112A)
      • Tax on Long term capital gain (Sec 112)
   7. Income under the head other sources
      • Chargeability (Sec 56)
      • Tax rate on casual income (Sec 115BB)
      • Deduction allowed (Sec 57)
      • Deduction not allow (Sec 58)
      • Deemed income chargeable to tax (Sec 59)
      • Method of Accounting (Sec 145)
   8. Aggregation of income, Set off & Carry forward of Losses
      • Aggregation of Income
      • Concept of set off & carry forward of losses
      • Inter source adjustment (Sec 70)
      • Inter head adjustment (Sec 71)
      • Carry forward and set off loss from house property (sec 71B)
      • Carry forward and set off Business loss (Sec 72)
      • Loss in speculative business (Sec 73)
      • Carry forward & set off of losses of specified business (Sec 73A)
      • Losses under the head Capital Gain (Sec 74)
      • Order of set off of Losses
      • Submission of return of loss (Sec 80)
   9. Deduction from Gross Total Income
      • General provisions
      • Deduction in respect of payment
      • Deduction in respect of certain income
      • Deduction in respect of other income
   10. Advance Tax
       • Concept of Advance Tax
       • Interest on Advance Tax
   11. Tax planning, Tax Evasion & Tax Avoidance
       • Tax Planning, Tax evasion & Tax avoidance
       • Tax planning in respect of Salary income
       • Tax planning in respect of business
       • General Anti-avoidance Rules
   12. Restriction on Cash Transactions by Income Tax Department
       • Understand Disallowance 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
   13. Practical Session on New Income Tax Portal
       • Overview of New Income Tax Portal
       • How to register on Income Tax Portal
       • How to reset password
       • Overview of Form 26AS
       • Overview of Annual Information Statement (AIS)
       • How to give feedback in AIS
       • Overview of TIS
       • Interlinkage between AIS, TIS & ITR
       • Concept of Updated Return
   14. Practical Session on ITR 1 Filing
       • Eligibility to file ITR 1
       • Documents need to file ITR 1
       • Overview of ITR 1 Form
       • Excel Computation for ITR 1
       • Online ITR 1 Filing
   15.  Practical Session on ITR 2 Filing
       • Eligibility to file ITR 2
       • Documents need to File ITR 2
       • Excel computation of ITR 2
       • ITR 2 Filing with offline utility
       • Preparing JSON & uploading on portal
   16. Practical Session on ITR 3 Filing
       • Balance sheet & PnL for ITR Filing (Format)
       • Computing income under the head PGBP
       • Computation of Depreciation schedule
       • Reconcile Form 26AS, AIS & Books
       • Computing income under the head Capital Gain.
       • Computation of Tax Payable
       • How to prepare challan for self assessment tax.
       • ITR 3 Filing with offline utility
       • Preparing JSON & uploading on portal
   17. Practical Session on ITR 4 Filing
       • Eligibility to file ITR 4
       • Presumptive Taxation
       • Online ITR 4 Filing
   18. Practical Session on ITR 5 Filing
       • Balance sheet & PnL for ITR Filing (Format)
       • Computing income under the head PGBP
       • Computation of Depreciation schedule
       • Reconcile Form 26AS, AIS & Books
       • Computing income under the head Capital Gain.
       • Computation of Tax Payable
       • How to prepare challan for self-assessment tax.
       • ITR 3 Filing with offline utility
       • Preparing JSON & uploading on portal
   19. Rectification of Mistake us 154
       • How ITR Process?
       • Rectification of Mistake us 154
       • What error can be corrected by Rectification?
       • When can rectification be file?
       • Time limit for rectification us 154?
       • Who can file rectification us 154?
       • Points to be consider while filing rectification
       • Revise Return vs Rectification of Mistake us 154
       • How to file rectification request under sec 154
       • Reprocess the Return under rectification us 154
       • Tax Credit Mismatch Correction
       • How to correct wrong challan details enter in ITR
       • Return Data Correction in rectification under sec 154
   20. Practical ITR Case Studies
       • ITR For Salaried Employee
       • ITR for Freelancers
       • ITR for Normal Business
       • ITR for Service Provider
       • ITR for presumptive taxation
       • ITR for pensioners
       • ITR for NRI
       • ITR for Share Traders
       • ITR for Online Sellers
       • ITR for Company & LLP
       • ITR for FnO Loss
       • ITR in case of Audit
   21. Reply to Department Notices
       • Understand Notices under Sec 133(6)
       • Analyze the fact of Case
       • Draft pointwise reply

       TDS Course Content

       1. TDS Provisions
          • Intro to TDS
          • Sec 194C TDS on Contract
          • Sec 194D TDS on insurance commission
          • Sec 194H TDS on commission and Brokerage
          • Sec 194I TDS on Rent
          • Sec 194J TDS on Professional & Technical Services
          • Sec 194O TDS on E comm transactions
          • Sec 194Q TDS on Purchase of Goods
          • Sec 194R TDS on Benefits & Perquisites
          • Sec 194S TDS on Virtual Digital Asset
          • Sec 206AB Higher Rate of TDS
          • Overview of TDS
          • Sec 206C(1H) TCS on Sales of Goods
          • Sec 206C(1H) Practical FAQ
       2. How to apply for TAN
       3. TAN Registration on Income Tax Portal
       4. Registration on TRACES PORTAL
       5. DSC registration on TRACES 
       6. Sec 192 TDS on Salary Computation
          • Overview of Sec 192
          • Average rate of income tax
          • TDS Calculation
          • Use of calculator
          • Excel Calculator
       7. PAN Verification for TDS return
       8. Practical session on Form 24Q – Salary TDS Return
          • Overview of TDS Return
          • Overview of Form 24Q
          • How to download latest TDS RPU utility
          • Install Java for RPU utility
          • How to fill Form
          • Enter Challan details
          • Annexure I Deductee details in Form 24Q
          • Annexure II Salary details in Form 24Q
          • How to download challan CSI File through OLTAS
          • How to download challan CSI File through Income Tax Portal
          • Creating FVU File for TDS Return
          • How to upload TDS Return on income tax portal
       9. Practical Session on Form 26Q – Other than Salary TDS Return
          • How to create TDS Challan
          • Provision covered by Form 26Q
          • TDS Working
          • Use of RPU utility
          • Download CSI File
          • Create FVU File
          • Filing TDS Return
       10. Practical Session on Form 27EQ – TCS Return sale of Goods
           • How to create TDS Challan
           • Provision covered by Form 27Q
           • TDS Working
           • Use of RPU utility
           • Download CSI File
           • Create FVU File
           • Filing TDS Return
       11. TDS Challan Correction on TRACES
       12. How to add challan in TDS Return
       13. How to add deductee in TDS Return
       14. How to pay Late Fee & Interest of TDS return
       15. TDS Return revision or Correction
       16. How to generate Justification report
       17. How to generate conso file

       New Topic incorporated in Course

       1. TDS Return Updated (Form 24Q) New Utility 
          • Overview of TDS Return
          • Overview of Form 24Q
          • How to download latest TDS RPU utility
          • Install Java for RPU utility
          • How to fill Form
          • Enter Challan details
          • Annexure I Deductee details in Form 24Q
          • Annexure II Salary details in Form 24Q
          • How to download challan CSI File through OLTAS
          • How to download challan CSI File through Income Tax Portal
          • Creating FVU File for TDS Return
          • How to upload TDS Return on income tax portal
       2. TDS Return Updated (Form 26Q)
          • How to create TDS Challan
          • Provision covered by Form 26Q
          • TDS Working
          • Use of RPU utility
          • Download CSI File
          • Create FVU File
          • Filing TDS Return
       3. TDS on Salary Calculation
          • Overview of Sec 192
          • Average rate of income tax
          • TDS Calculation
          • Excel Calculator added
       4. TDS Return Correction
       5. TDS Challan Correction

       SAMPLE CERTIFICATE