Taxation-II

Paper Code: 
BCP-312
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-312

 Taxation-II
  • CO 91 To understand different Deductions from gross total income available to individual
  • CO 92 An understanding of Advance tax, tax deduction at source and introduction to tax collection at source
  • CO 93 Knowledge of Provisions for filing return of income and self-assessment
  • CO 94 Getting acquainted with Concept of indirect taxes
  • CO 95 A comprehensive understanding Goods and Services Tax (GST) Laws, its concepts and provisions
  • CO 96 Demonstrate the GST procedures

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments

 

Learning activities for the students:

Self learning assignments, Effective questions, Seminar presentation,

 

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

 

18.00
Unit I: 
-
  • Deductions from gross total income (i) General provisions (ii) Deductions in respect of certain payments (iii) Specific deductions in respect of certain income (iv) Deductions in respect of other income (v) Other deductions
  • Computation of total income and tax liability of individuals (i) Income to be considered while computing total income of individuals (ii) Procedure for computation of total income and tax liability of individuals

 

16.00
Unit II: 
-
  • Advance tax, tax deduction at source and introduction to tax collection at source (i) Introduction (ii) Direct Payment (iii) Provisions concerning deduction of tax at source (iv) Advance payment of tax (v) Interest for defaults in payment of advance tax and deferment of advance tax (vi) Tax collection at source – Basic concept (vii) Tax deduction and collection account number

 

12.00
Unit III: 
-
  • Provisions for filing return of income and self-assessment (i) Return of Income (ii) Compulsory filing of return of income (iii) Fee and Interest for default in furnishing return of income (iv) Return of loss (v) Provisions relating to belated return, revised return etc. (vi) Permanent account number (vii) Persons authorized to verify return of income (viii) Self-assessment

 

20.00
Unit IV: 
-
  • Concept of indirect taxes: Concept and features of indirect taxes, Principal indirect taxes
  • Goods and Services Tax (GST) Laws (i) GST Laws: An introduction including Constitutional aspects (ii) Levy and collection of CGST and IGST a) Application of CGST/IGST law b) Concept of supply including composite and mixed supplies c) Charge of tax including reverse charge d) Exemption from tax e) Composition levy

 

22.00
Unit V: 
-
  • Goods and Services Tax (GST) Laws (iii) Basic concepts of time and value of supply (iv) Input tax credit (v) Computation of GST liability (vi) Registration (vii) Tax invoice; Credit and Debit Notes; Electronic way bill (viii) Returns (ix) Payment of tax

 

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 Taxes-Ajay Jain (AVJ Institute)
  • 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 Income Tax, Mr. DinkarPagare, (M/S Sultan Chand& Sons)
  • Income Tax for Students-Sharad Bhargav, (Mashbara Industries)
  • Income Tax; Law and Accounts: - H.C Mehrotra (Sahitya Bhawan)
  • 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. If any new legislation(s) is enacted in place of an existing legislation(s), the syllabus will accordingly include the corresponding provisions of suc h new legislation(s) in place of the existing legislation(s) with effect from the date to be notified by the Institute. Similarly, if any existing legislation ceases to have effect, the syllabus will accordingly exclude such legislation with effect from the date to be notified by the Institute. Students shall not be examined with reference to any particular State GST Law. Consequential/corresponding amendments made in the provisions of the Income-tax law and Goods and Services Tax laws covered in the syllabus of this paper which arise out of the amendments made in the provisions not covered in the syllabus will not form part of the syllabus. Further, the specific inclusions/exclusions in the various topics covered in the syllabus will be effected every year by way of Study Guidelines. The specific inclusions/exclusions may also arise due to additions/deletions every year by the annual Finance Act.

Academic Year: 
2020-2021
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