Tax Accounting
Learn how taxation works for individuals and businesses — from income tax heads and deductions to GST, TDS, tax returns, and deferred tax accounting.
Course overview
Tax accounting involves the recording, analysis, and reporting of tax-related transactions. This course covers both direct taxes (mainly Income Tax) and indirect taxes (mainly GST), along with the accounting treatment of current and deferred tax.
- Understand basic taxation concepts and terminology
- Determine residential status and scope of total income
- Compute income under the five heads of income
- Apply deductions, exemptions, and calculate taxable income
- Learn GST registration, invoicing, ITC, returns, and e-way bill
- Understand TDS, TCS, advance tax, and tax compliance
- Account for current tax and deferred tax in financial statements
- Practise with problems and MCQs
Course chapters
Follow the chapters in a logical order for the best learning experience.
Introduction to Tax Accounting
Understand the meaning, objectives, and importance of tax accounting.
Taxation Basics and Terminology
Learn key tax terms, concepts, and the structure of the tax system.
Direct and Indirect Taxes
Differentiate between direct taxes and indirect taxes with examples.
Previous Year and Assessment Year
Understand the concepts of previous year and assessment year in income tax.
Residential Status
Determine the residential status of an individual and its effect on taxability.
Income Tax Basics
Get an overview of the Income Tax Act and the basic framework of computation.
Income from Salary
Compute income under the head Salaries including allowances, perquisites, and deductions.
Income from House Property
Calculate annual value, deductions, and income from house property.
Profits and Gains from Business
Compute business and professional income including allowable expenses and disallowances.
Capital Gains
Understand short-term and long-term capital gains and their computation.
Income from Other Sources
Identify and compute income chargeable under the residual head.
Gross Total Income
Aggregate income under all heads to arrive at Gross Total Income.
Deductions and Exemptions
Apply Chapter VI-A deductions and important exemptions available under the Act.
Taxable Income Calculation
Compute total income and tax liability step by step.
Old vs New Tax Regime
Compare the old tax regime with the new tax regime and choose wisely.
Advance Tax
Understand advance tax liability, due dates, and calculation of interest.
TDS and TCS
Learn Tax Deducted at Source and Tax Collected at Source provisions.
Tax Return Filing Basics
Understand ITR forms, due dates, and the basic process of filing returns.
Tax Audit Basics
Learn when tax audit is required and the basic provisions under Section 44AB.
GST Accounting
Understand the structure of GST and how to account for GST in books.
GST Registration
Learn the threshold limits, process, and requirements for GST registration.
GST Invoicing
Understand tax invoice, bill of supply, debit note, credit note, and e-invoicing.
Input Tax Credit
Learn the conditions, restrictions, and process of claiming Input Tax Credit.
GST Returns
Understand GSTR-1, GSTR-3B, and other important GST returns and their due dates.
E-Way Bill
Learn when e-way bill is required and the process of generating it.
Tax Payment and Compliance
Understand tax payment methods, challans, and overall compliance requirements.
Deferred Tax Accounting
Understand the concept of deferred tax assets and deferred tax liabilities.
Current Tax and Deferred Tax
Differentiate between current tax and deferred tax and their accounting treatment.
Tax Provisions in Financial Statements
Learn how tax expenses and tax assets/liabilities appear in financial statements.
Tax Accounting Practical Problems
Solve practical problems on income computation, GST, and deferred tax.
Tax Accounting MCQs
Test your knowledge with multiple-choice questions covering the entire syllabus.
Recommended learning approach
Start with taxation basics, then move to income tax heads, deductions, GST, and finally deferred tax and practical problems.