Direct Tax and International Taxation

Paper Code: 
BCS 414
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To acquire knowledge on practical application of direct taxes and international taxation.

CO 1:     and interpret the provisions of direct tax laws and recommend solutions to practical problems.

CO 2:     Compute income under various heads after allowing deductions available there under.

CO 3:     develop a correlation of the concepts, principles and provisions of International Taxation and acquire the ability to apply such knowledge to make computations and to address application-oriented issues

      CO 4 Comprehend and appreciate the country by county reporting requirements and       related matters incorporated in income tax law.

9.00
Unit I: 
UNIT I

Corporate Tax Planning & Tax Management: Tax Planning, Tax Management; Tax Avoidance v/s Tax Evasion; Areas of Corporate Tax Planning; Tax Planning Management Cell.

General Anti Avoidance Rules ‘GAAR’: Basic concept of GAAR; Impermissible avoidance arrangement; Arrangement to lack commercial substance; Application of GAAR Rule; GAAR v/s SAAR.

9.00
Unit II: 
UNIT II

Taxation of Companies,: Tax incidence on Companies including foreign company; Minimum Alternate Tax ‘MAT’; Dividend Distribution Tax; Alternate Minimum Tax ‘AMT’;

 

9.00
Unit III: 
UNIT III

Taxation of LLP and Non-resident: Tax incidence on LLP; Taxation of Non-resident Entities.

Tax Treaties: Introduction, Double Taxation, Double Taxation Relief, Objectives of Tax Treaties, Application of Tax Treaties,  Interpretation of Tax Treaties, Process of Negotiating Tax Treaties, Relationship between Tax Treaties & Domestic Law , Tax Information Exchange Agreement (TIEA), DTAA Treaty With Argentina – Bare View

 

9.00
Unit IV: 
UNIT IV

Basics of International Taxation

i. Transfer Pricing: Introduction & Concept of Arm’s Length Price; International and Specified Domestic Transaction; Transfer Pricing Methods; Advance Pricing Agreement & Roll Back Provision; Documentation and Return.

ii. Place of Effective Management (POEM) : Concept of POEM; Guidelines of determining POEM.

 

9.00
Unit V: 
UNIT V

Income Tax Implication on specified transactions: Slump Sale; Restructuring; Buy Back of shares; Redemption of Preference shares; Issue of shares at Premium; Transfer of shares; Reduction of share Capital; Gifts, cash credits, unexplained money, investments etc.

 

References: 

• Study Material Published by ICSI
• Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)

Academic Year: