A STUDY ON INCOME TAX RETURN OF AN INDIVIDUAL

A Project Submitted in partial fulfillment of the requirements for

the award of the Degree of
BACHELOR OF COMMERCE

BY

AJEET KUMAR
(SBU211269)

DEPARTMENT OF COMMERCE & MANAGEMENT

SARALA BIRLA UNIVERSITY, RANCHI
2023
 DECLARATION CERTIFICATE

This is to certify that the work presented in the project entitled “A Study on Income Tax
Return of an Individual” in partial fulfillment of the requirement for the award of Degree of
Bachelor of Commerce, Sarala Birla University, Ranchi is an authentic work carried out under
my supervision and guidance. To the best of my knowledge, the content of this project does not
form a basis for the award of any previous Degree to anyone else

(Dr. Mukesh Babu Gupta)

Department of Commerce & Management
Sarala Birla University, Ranchi

Head
Dept. of Management
Sarala Birla University, Ranchi
 CERTIFICATE OF APPROVAL
The foregoing project entitled “A Study on Income Tax Return of an
individual”, is hereby approved as a creditable study of research topic and has
been presented in satisfactory manner to warrant its acceptance as prerequisite
to the degree for which it has been submitted.

It is understood that by this approval, the undersigned do not necessarily endorse

any conclusion drawn or opinion expressed therein, but approve the project for
the purpose for which it is submitted

(Internal Examiner) (External Examiner)

(Dean Academics)
 ACKNOWLEDGEMENT

I would like to express my sincere thanks to Dr. Mukesh Babu Gupta for
providing me his sincere guidance for making this project.

I would also like to express my thanks to Dean of Department of Commerce &

Management, Dr. Sandeep Kumar, for providing me with the opportunity of
undertaking an Internship and making this project.

Also, I am highly grateful to Sumar Prasad Sir, under whose able guidance I had
done my internship at CA UMESH PRASAD & ASSOCIATES.

Date: Ajeet Kumar

(B.Com. SEM V Sec “C”)
 Executive Summary
Through the making of this project, the technicalities of the income tax system and the
government regulations are understood. The meaning of various terms, the return filing
and income calculation techniques are explained. This project provides a summary of
some of the direct taxation system prevailing in our country. The project explains the
terms used in taxation such as meaning of assessee, assessment year, financial year etc.
It also elaborates the various heads of income and the process of calculation of income
and tax thereon.
 CONTENTS

S.NO PARTICULARS PAGE

Profile of the Firm

1
Theoretical Background
2
Introduction
2.1
Need of Taxation
2.2
Heads of Income
2.3
Analysis & Interpretations of the Study
3
Exemptions and Deduction
4
ITR Filing Procedures
5
Findings
6
Conclusion
7
Bibliography
8
PROFILE OF THE FIRM