Course Contents

• History of Income Taxation in Pakistan • Terminologies of income tax • Income exempt from tax • Heads of Income: Salary, Income from Business or Profession, Income from, House Property, Income from Capital Gains, Income from Other Sources • Calculation of Tax: Tax rates, Rebates, Exemptions, Deductions • Assessment procedure • Practical Problems • Online tax return submission will be taught.

Course Synopsis

The basic objective of this course is to provide the students an overall view of the economic structure of the country and to explain the salient features of Federal, Provincial and Local taxation Laws. This course intends to develop skill in understanding the application of the above legislation. To educate the students about availing all exemptions under the tax laws is one of the main objectives along with enabling 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.