Direct Tax-II

Paper Code: 
BCS 314
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

To acquire knowledge and understanding of the concepts, techniques and practices of Direct Tax  and to develop skills for decision making.

 Course Outcomes (COs):

BCS 314

Direct Tax-II

CO 91:Categorize the provisions related to computation of taxable income  under the head  Capital Gain and Income from Other Sources                   

CO 92:Review the provisions of Deemed Income, Set Off and Carry Forward of Losses and Deductions from Gross Total Income .

CO 93:Collaborating the special provisions of income tax related to assessment of companies.   .                                     

CO 94:Appraising special provisions of income tax related to Advance payment of Tax and Procedure of assessment.     

CO 95:Understand different  provisions relating Calculation of tax liability of different entities      

CO 96:To analyse the way computation of self assessment tax .                          

Approach in teaching: Interactive Lectures, Tutorials, Class discussion Learning activities for the students: To give assignments & application based questions.

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

 

18.00
Unit I: 
Deductions

Deductions from Gross Total Income & Rebate and Relief : Deductions in respect of certain payments; Specific deductions in respect of certain income; Deductions in respect for donations for expenditure under CSR activities; Rebates and Reliefs.

18.00
Unit II: 
Computation of total income and Tax Liability of various entities:
  • Individual
  •  Hindu Undivided Family ‘HUF’;
  •  Alternate Minimum Tax (AMT);
  • Partnership Firm / LLP;

 

18.00
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;

 

18.00
Unit IV: 
Classification and Tax Incidence on Companies

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;

Procedural Compliance : Permanent Account Number ‘PAN’ / Tax Collection Account Number ‘TAN’; Tax Deduction at Source ‘TDS’ & Tax Collection at Source ‘TCS’

18.00
Unit V: 
Advance Tax & Self Assessment Tax

Advance Tax & Self Assessment Tax ‘SAT’; Returns Procedural, Signatures, E-Filing ; Fee and interest for default in furnishing return of Income ; Collection, Recovery of Tax, Refunds.

Assessment, Appeals & Revision: Assessment; Types of Assessment; Appeals; Revisions; Search, Seizure, Penalty and offences.

 

References: 

1.  Study Material Issued by ICSI

2.  Scanner-ArunKumar(ShuchitaPrakashan (P) Ltd)

 

Academic Year: 
2021-2022
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