DIRECT TAX AND INTERNATIONAL TAXATION

Paper Code: 
BCS 414
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment

Strategies

On completion of this course, the students will be able to;

CO 33:Ability to analyze and interpret the provisions of direct tax laws and recommend solutions to practical problems.

CO 34:Compute income under various heads after allowing deductions available there under.

CO 35: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 36:Comprehend and appreciate the country by county reporting requirements and related matters incorporated in income tax law. Assessing the concept of slump sale, restructuring etc.

CO 37:Gaining understanding about the issue of shares and anti transmission process.
 

Class lectures

Seminars

Tutorials

Group discussions and

Workshops

Question preparation

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

     
     
     

 

9.00
Unit I: 
Tax Planning

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: 
Taxation of Companies

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: 
Taxation of LLP and Non-resident

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: 
International Taxation

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: 
Specified Transactions

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.

Essential Readings: 

ESSENTIAL READINGS:

·       Study Material Published by ICSI

 

SUGGESTED READINGS:

·       Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)

References: 

e-RESOURCES:

 

https://www.icsi.edu/media/webmodules/16112021_Advance_Tax_Laws.pdf

JOURNALS:

 

https://www.icsi.edu/e-journals/

Academic Year: 
2022-2023
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