INCOME – TAX M.COM ABST SEMSTER – 3 PAPER – 2

This course is designed for M.Com (ABST) Second Year, Third Semester students as per NEP 2020 guidelines. The subject “Income Tax” focuses on advanced provisions of income tax relating to firms, companies, AOP, cooperative societies and trusts.

The course provides detailed knowledge of clubbing of income, set-off and carry forward of losses, assessment procedures, computation of total income and tax liability, Minimum Alternate Tax (MAT), book profit, and exemptions available to trusts. Practical numerical problems and real assessment-based cases are included to strengthen conceptual clarity and application skills.

This is a Discipline Centric Compulsory Course (DCC) with academic and professional relevance for students preparing for higher studies, competitive exams, or tax practice.