Course Contents

1. History of Income Taxation in Pakistan 2. Terminologies of income tax 3. Income exempts from tax 4. Heads of Income: Salary, Income from Business or Profession, Income from, House Property, Income from Capital Gains, Income from Other Sources 5. Calculation of Tax: Tax rates, Rebates, Exemptions, Deductions 6. Assessment procedure 7. Practical Problems

Course Synopsis

The basic objective of this course is: • To provide the students an overall view of the economic structure of the country. • To explain the salient features of Federal, Provincial and Local taxation Laws. • To develop skill in understanding the application of the above legislation. • To educate the students about availing all exemptions under the tax laws. • To enable the students to plan and manage the taxation matters in the best possible manner.

Course Learning Outcomes

After completion of the course students will be able: • To familiarize the students with the Income Tax Laws in Pakistan. • To introduce to students the important elements and aspects of tax system and authorities and their limits. • To equip the students with necessary skills to deal with the situations concerning the field of taxation.