Khan Academy
FreeFundamentals of Taxation
4.5(3,275)BEGINNEREnglish
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This beginner course opens by explaining what a tax is and the main types that exist. It then gives a short history of the Income Tax Act 1961, which governs income tax in India, and introduces the terminology and definitions the Act relies on.
The course closes with a recap of the material, which makes it a useful checkpoint before moving on to computation. It is a short introduction, so it is best read as a foundation for the more detailed income tax courses that follow.
This Fundamentals of Taxation course will begin with a brief overview of the course, explaining the basic meaning of tax and the different types of tax. After that, you will be introduced to a brief history of the act governing the Income Tax Law in India, viz. Income Tax Act 1961. After this, you will learn some of the basic terminologies of taxation and some crucial definitions that are included in the aforementioned Act. Having completed these basics, you can now take it a step further and learn about the various heads of Income as defined in the Act, the difference between Tax planning, avoidance, and evasion, and the meaning of residential status for the purpose of the Act. You will then come to a close with a quick recap of what you have learned throughout.
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