Taxation-II

Paper Code: 
AAF 214
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

- To develop knowledge and skills relating to the tax system as applicable to individuals, HUF, AOP and Companies.

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

 

 

 

 

 

 

 

 

AAF 214

 

 

 

 

 

 

 

 

 

Taxation-II

CO 56: Understand the provisions of Income Tax under the head Income from Other Sources  

CO 57: Understand the provisions of Deemed Income and Set Off and Carry Forward of Losses.

CO 58: Understand different  provisions relating to Deductions from Gross Total Income and Calculation of tax liability of an Individual

CO 59: Understand Income Tax provisions relating to Assessment of Firm and HUF.    

CO 60: Understand special provisions of income tax related to TDS, Advance payment of Tax and Procedure of assessment.                            

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

 

5.00
Unit I: 
Income under the Head “Other Sources”
  • Chargeability, Incomes included  under income  from  othersources (Section 56(2) and sub sections) 
  • Deductions under section 57, Amounts not deductible under section 58
  • Deemed income chargeable to tax
  • Bond washing transactions
  • Deemed dividend, Rate of tax in case of winnings from lotteries, crossword puzzles, races etc.
5.00
Unit II: 
Clubbing of Income:
  • Income of  other persons included in Assessee’s total income
  • Transfer of income without transfer of assets, Revocable transfer of assets
  • Provisions of section 54 and its subsections, Set off and Carry Forward of losses
15.00
Unit III: 
Deductions to be made in Computing Total Income
  • Deductions  under  section  80C  TO  80U
  • Agricultural Income and its tax treatment
  • Definition of agricultural income
  • Rent or revenue derived from agricultural Land
  • Income attributable to a farm house
  • Exemption of agricultural income
  • Partial Agricultural Income
  • Income from manufacture of Rubber, tea and coffee Assessment of Individual
10.00
Unit IV: 
Assessment
  • Assessment of Hindu Undivided Family
  • Assessment of Partnership Firm.
10.00
Unit V: 
Returns
  • Return of Income (Section 139 to 140 A)
  • Deduction of Tax at Source
  • Advance Payment of Tax
References: 
  • Professional Approach to Direct Taxes- GirishAhuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi.
  • Income Tax-Patel ,Choudhary, Sharma, Modi, Bardiya (ChoudharyPrakashan)
  • Income Tax- Agarwal, Jain, Sharma ,Shah, Mangal ( Ramesh Book Depot)
  • Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
  • Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi) Law and Practice of IncomeTax, MrDinkarPagare, (M/S Sultan Chand& Sons)
  • Income Tax for Students-SharadBhargav, (Mashbara Industries)
  • Income Tax; Law and Accounts:- H.C Mehrotra(SahityaBhawan) 
Academic Year: 
2020-2021
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