ADVANCED TAX

Paper Code: 
BCS 217
Credits: 
04
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

This course will enable the students to understand concepts and computation of direct tax liability of various assesses.

Course Outcomes (COs):       

Course

Course Outcomes

Learning and teaching strategies

Assessment

Strategies

Course Code

Course Title

BCS 217

Advanced Tax

 

CO 85:Explain the provisions of Deductions under Chapter VI-A of Income Tax Act, 1961 and income which do not form part of Total Income.

CO 86:Explore the provisions relating to computation of tax liability of Individuals and Hindu Undivided Family.

CO 87:Evaluate different provisions relating calculation of tax liability of different entities.      

CO 88:Determine        the special       provisions               of income tax related to assessment of companies.

CO 89:Appraise special provisions of income tax related to Advance payment of Tax, TDS, TCS and Procedure of assessment.   

CO 90:Contribute effectively in course – specific interaction.

Approach in teaching:
Interactive Lectures, Discussion, Tutorials, Reading assignments, Interactive White Board, Incorporating technology in teaching
 

Learning activities for the students:
Self learning assignments, Effective questions

Class test, Semester end examinations, Quiz,  Assignments, Class interaction, Presentation, Case study analysis, Open ended questions, think-pair-share, Socratic seminar

 

12.00
Unit I: 

Incomes which do not form part of Total Income.

 

Deductions:  Deductions in respect of certain payments, Specific deductions in respect of certain income, Deductions in respect of donations for expenditure under CSR activities

 

12.00
Unit II: 
Computation of total income and Tax Liability of various entities:

Individual

 Hindu Undivided Family ‘HUF’;

 Alternate Minimum Tax (AMT);

Partnership Firm / LLP;

 

12.00
Unit III: 
Computation of total income and Tax Liability of various entities

Co-operative Societies;

Association of Person ‘AOP’ and Body of Individual ‘BOI’;

Political Parties;

Electoral Trusts;

Exempt organization – Registration u/s 12A/ 12AA;

Tax Rates;

 

12.00
Unit IV: 
Classification and Tax Incidence on Companies :

Computation of taxable income and tax liability of Company; Dividend Distribution Tax; Minimum Alternate Tax ‘MAT’; Other Special Provisions Relating to Companies; Equalization Levy, Carbon Credit

 

 

12.00
Unit V: 
Procedural Compliance:

Tax Deduction at Source ‘TDS’ & Tax Collection at Source ‘TCS’ , Advance Tax &Self Assessment Tax ‘SAT’, Filing of Returns, Fee and interest for default in furnishing return of Income 

Essential Readings: 

Essential Readings:

  • Study Material Published by ICSI

 

      Suggested Readings:

  • Scanner-ArunKumar(ShuchitaPrakashans(P) Ltd)
  • The Law and Practice of Income Tax by Arvind  P Datar
  • Income Tax Refunds (Law and Procedure) by Ram Dutt Sharma
  • Direct Taxes Ready Reckoner by Mahendra B. Gabhawala

 

 

References: 

      E- Content:

 

 

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.

 

Academic Year: 
2023-2024
  • Printer-friendly version
  • PDF version