DIRECT TAX-II

Paper Code: 
BCS 314
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

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

CO 94:Categorize the provisions related to computation of taxable income  under the head  Capital Gain and Income from Other Sources                   

CO 95:Review the provisions of Deemed Income, Set Off and Carry Forward of Losses and Deductions from Gross Total Income .

CO 96:Collaborating the special provisions of income tax related to assessment of companies.   .                                     

CO 97:Appraising special provisions of income tax related to Advance payment of Tax and Procedure of assessment.     

CO 98:Understand different  provisions relating Calculation of tax liability of different entities.  

CO 99: To analyze the way computation of self assessment tax.

18.00

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

Computation of total income and Tax Liability of various entities:

  • Individual
  •  Hindu Undivided Family ‘HUF’;
  •  Alternate Minimum Tax (AMT);
  • Partnership Firm / LLP;

 

18.00

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

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

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.

Essential Readings: 

• Study Material Published by ICSI

References: 

SUGGESTED READINGS:

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

e-RESOURCES:

https://www.icsi.edu/media/webmodules/TL_Final_pdf_25102021.pdf

JOURNALS:

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

 

Academic Year: 
2022-2023
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