Financial Literacy: Taxation and Government Programs
Description
This subject develops tax literacy and awareness of government financial assistance programs essential for income optimization and social security. It covers income tax structure, deductions, capital gains taxation, tax return filing, tax-saving strategies, government pension schemes (NPS, APY), welfare programs (PMJDY, Sukanya Samriddhi, Ayushman Bharat, PMFBY), digital financial inclusion initiatives (Jan Dhan, Aadhaar, UPI), and GST awareness. Understanding taxation and government programs enables citizens to reduce tax burden legally and access government support for financial security.
Learning Objectives
Upon successful completion of this subject, learners will be able to: (1) understand income tax basics and progressive taxation, (2) calculate income tax liability accurately, (3) understand tax deductions under sections 80C, 80D, 80E, 80G, 80TTA, 24, (4) distinguish between taxable and non-taxable income, (5) file accurate income tax returns (ITR forms), (6) understand capital gains taxation (STCG vs. LTCG), (7) develop tax-efficient investment strategies, (8) understand tax-saving vehicles and Section 80C investment, (9) access government pension schemes (NPS, APY, EPF), (10) understand government welfare schemes (PMJDY, Sukanya Samriddhi, PMSBY, Ayushman Bharat, PMFBY), (11) leverage digital financial inclusion initiatives, (12) understand GST and consumption tax impacts.