Direct tax and International Taxation

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

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

 

Course Outcomes (COs):

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Paper Code

Paper Code

Paper Title

BCS 515

Direct tax and International Taxation

The students will be able to –

 

CO 113 Ability to analyze and interpret the provisions of direct tax laws and recommend solutions to practical problems.

CO 114 Compute income under variousheads after allowing deductions available thereunder.

CO 115 develop an understanding 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 116 Comprehend and appreciate the country by county reporting requirements and related matters incorporated in income tax law.

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Demonstration,

Learning activities for the students:

Self learning assignments, Effective questions,  presentation, Giving tasks,

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

 

9.00
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: 
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:

 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: 
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: 
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 byICSI
  • Scanner-Arun Kumar (SuchitraPrakashan (P)Ltd

 

 

Academic Year: 
2020-2021
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