A passionate CA and a singer. :) A B.Com. Hons Graduate. Love for taxation never ends. Unacademy platform is a boon :) I always love history

Nandini Krishna

Knowing how our tax system works will help all the salaried, businessmen and professionals plan their tax.It is much demanded subject for all classes of employees these days.

Crack UPSC CSE Prelims and Mains Exams. Know how to prepare for UPSC 2019 and 2020, complete syllabus, exam patterns, latest notifications to join IAS, IFS, IPS and other cadres of Civil Services.

UPSC CSE - GS

UPSC - Civil Services Examination (IAS) Preparation

English

Understanding Taxation System in India - Daily Series

General Awareness

Fiscal Policy

Indian Economy

UPSC CSE

Ace the toughest competitive and government exams in India 

Test Preparation

Union Public Service Commission Exams (UPSC)

Economy

Taxation in india and basic definition of tax was discussed. All the salaried employees, professionals, business persons nred to understand how tax is levied and how the governmental powers on taxation works, so that they can legally plan their tax payment.

Basics of Tax and Income Tax

The structure of indian income tax has been discussed. This will help us know how the government works with regards to income tax and what are the concepts under the structure.
The concept of rebate for indian resident individuals has been discussed and rates of tax for individuals at different age limitshas been talked about.

Structure of Indian Income Tax and Rate of Tax

Surcharge applicable on income taxes, their rates and the very basic concepts of income tax such as assesse and person were discussed. Every tax paying individual is an assessee and everyone of us is a person. Detail briefings were given about person inder income tax act, 1961.

Concept of surcharge and income tax concepts

Residential status of an individual is very essential to understand who is taxed on what income. So that, an individual understands that non residents are not taxed on certain aspects and resident is taxed on all income.i.e, both foriegn and indian income.

Residential status of an individual

Agricultural income, its definition and taxability was discussed. Agricultural income derived from land situated in india totally exempt. Salaried employees should understand such exemptions. And important sections of income tax were discussed. Who is taxed on what income was also discussed.

Agricultural income and certain important definitions.

Income from the head salaries was discussed briefly. It is such important head of income where its taxability makes a larger impact. Understanding its taxation can help us plan tax efficiently.
Various forms of salary were discussed, and leave salary, the first form of salary was discussed in detail.

Understanding Income from salaries, its taxation

Gratuity and pension are thise perfect retirement plans every individual has. Brief definitions were given and the taxability of these two concepts was understood. Gratuity and pension are taxable only when received on retirement.

Gratuity and Pension, understanding the concepts.

House rent allowance which is an important topic for the salaried employees is on the same hand easy to understand for all those slried employees who live in residential houses paying rent. Only those paying rent shall be eligible to take HRA exemltion, which is an obvious point. All the taxation methods of HRA were discussed, and how one can claim exemption was also discussed.

House Rent Allowance.

Retrenchment compensation and leave travel assistance and their taxation was discussed briefly. Exemptions can be taken in both the cases. How and what were understood as it is the core area in allowances.

Leave Travel Assistance and Retrenchment Compensation, conceptual clarity

Allowances is an important topic for the salaried employees, beacuse they will take certain Allowances as part exemptions which will benefit them.

Allowances

Deductions from gross salary income has two categories. One from the Section 80 such as LIC, PF deposits etc. Others are the deductions under chapter VI of Income tax act, 1961. Those deduction under chapter VI have been discussed, which are Entertainment allowance and professional tax. Govt. Employees are those who ar benefited because only they can take deduction but non govt. Employees should make every allowance taxable.

Deductions from salary income

Chapter VI A runs from 80C to 80 U . These sections provide certain deductions from Gross total income. Deduction in respect of LIC Premium, Provident funds contribution.etc. Employee welfare funds can also be taken as deduction

Section 80C Deductions.

Deduction in respect of contribution made to certain pension funds and annuity plan by LIC or any other IRDA supported institution has been discussed.
Section 80CCC has the deduction of amoun deposited or 150000 whichever is lower. The aggregatr of amounts deposited under 80C and 80CCC also should not exceed 150000

Section 80CCC

Deduction in respect of contribution to pension scheme notified by the central government. Section 80CCD. Any employee is eligible assessee.  Deduction is available in respect of contribution to pension scheme notified by the Central Government.

Section 80CCD

GST has said to be the most revolutionary step in the taxation system since independence. Only the basic introduction of GST has been given for all to understand. In the coming lessons we shall be dealing with rates and benefits of GST.

GST, its understanding

GST and its benefits has been discussed. Gst has an ample number of advantages. The rates of gst were discussed and how gst has reduced tax burden is also understood.

Gst and its benefits

I did BTech, MA Economics and MBA. I joined IAS in 1981 and retired in Chief Secretary rank. I teach all GS subjects & Pub Ad optional.

Rakesh Verma

In this course, the educator discusses concepts of External Trade and Balance of Payment with special reference to India.

External Trade: UPSC CSE

Writer, Educator, Ex-IRS Officer, Author of books on 'Ethics, Integrity and Aptitude' & 'Essay and Answer Writing'  for UPSC Civil Services

Awdhesh Singh

In this course we shall discuss about the union budget which has been presented by the government of India on 5th  July 2019

An Overview of The Union Budget 2019: UPSC CSE

This course provides information about the main proposals of budget 2019 presented by government of India on1st February 2019

Highlights of the Budget 2019 for UPSC

This course shall provide information about the Finance Ministry and the Tax Department in India

Finance and Taxation in India

I have done a post graduation in Economics and also MBA in Finance.Teaching GS Economy and Economics optional Since the last nine years.

Bijendra Kumar Singh

In this course, the educator discusses the different forms of market and consumer behaviour.
The course will be beneficial for UPSC CSE Aspirants.

Economics Optional for UPSC CSE

Join the live lectures.... will get to know 😇
love learning and music

Priya Tiwari

The course will cover entire detailed pointwise explanation of interom budget 2019 with explanation of basic terms

Lessons

16 lessons • 2h 20m

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Basics of Tax and Income Tax

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Structure of Indian Income Tax and Rate of Tax

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Concept of surcharge and income tax concepts

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Residential status of an individual

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Agricultural income and certain important definitions.

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Understanding Income from salaries, its taxation

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Gratuity and Pension, understanding the concepts.

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House Rent Allowance.

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Leave Travel Assistance and Retrenchment Compensation, conceptual clarity

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Allowances

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