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 Outcome (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 214

Taxation-II

Upon successful completion of this course, the student will be able to:

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

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

CO 58: Develop an understanding regarding the different  provisions relating to Deductions from Gross Total Income and Calculation of tax liability of an Individual

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

CO 60: Evaluate 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 other sources (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, Incomefrom 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: 
Return of Income (Section 139 to 140 A)
  • Deduction of Tax at Source
  • Advance Payment of Tax
Essential Readings: 
  1. Professional Approach to Direct Taxes- Girish Ahuja & Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
  2. Income Tax-Patel ,Choudhary, Sharma, Modi, Bardiya (ChoudharyPrakashan)
  3. Income Tax- Agarwal, Jain, Sharma ,Shah, Mangal ( Ramesh Book Depot)
  4. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
  5. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
  6. Law and Practice of IncomeTax, MrDinkarPagare, (M/S Sultan Chand& Sons)
  7. Income Tax for Students-SharadBhargav, (Mashbara Industries)
  8. Income Tax; Law and Accounts:- H.C Mehrotra(SahityaBhawan)
Academic Year: 
2021-2022
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