Taxation-I

Paper Code: 
BCP-212
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

  • To develop an understanding of the provisions of income-tax law and goods and services tax law and to acquire the ability to apply such knowledge to make computations and address application oriented issues.

 

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

BCP-212

Taxation-I
  • CO 50 To understand different concepts of Income Tax and determination of residential status & scope of total income                                          
  • CO 51 Understand special provisions of income tax related to Computation  of Taxable income under the head  Salaries                                            
  • CO 52 To develop an understanding relating to Computation of Taxable Income under the head House Property & Business or Profession                   
  • CO 53 Understand provisions of Income Tax act related to computation of taxable income under the head Capital Gain & Income from Other Sources                                
  • CO 54 Understand provisions of Income Tax act related to aggregation of Income and set off and carry forward of losses

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: 
-
  • Basic Concepts
  • Income-tax law: An introduction, Important definitions in the Income-tax Act, 1961, Concept of previous year and assessment year, Basis of Charge and Rates of Tax
  • Residential status and scope of total income: Residential status, Scope of total income
  • Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts): Income not included in total income, Tax Holiday for newly established Units in SEZ

 

18.00
Unit II: 
-
  • Heads of income and the provisions governing computation of income under  head Salaries

 

18.00
Unit III: 
-
  • Heads of income and the provisions governing computation of income under different heads: Income from house property, Profits and gains of business or profession

 

24.00
Unit IV: 
-
  • Heads of income and the provisions governing computation of income under different heads Capital gains, Income from other sources

 

12.00
Unit V: 
-
  • Income of other persons included in Assessee’s total income Clubbing of income: An introduction, Transfer of income without transfer of assets, Income arising from revocable transfer of assets, Clubbing of income of income arising to spouse, minor child and son’s wife in certain cases, Conversion of self-acquired property into property of HUF
  • Aggregation of income; Set-off, or carry forward and set-off of losses Aggregation of income, Concept of set-off and carry forward and set-off of losses, Provisions governing set-off and carry forward and set-off of losses under different heads of income, Order of set-off of losses

 

References: 
  • Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
  • Study Material Published  by Institute of Chartered Accountants of India
  • Direct Taxes-Yogendra Bangar (Aadhya Publications)
  • Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
  • Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)

 

 

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

Academic Year: 
2020-2021
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