Taxation-II

Paper Code: 
24BCP312
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

This course will enable the students 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: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

24BCP312

Taxation-II

(Theory)

 

CO 1Calculate Deductions (sec 80C to 80 U) from gross total income available to individual as per Income tax provisions.

CO 2Compute total income and income-tax payable by an individual under the alternative tax regimes under the Income-tax Act, 1961 to optimise tax liability

CO 3Determine Advance tax, tax deduction at source  ,TCS and examine the Provisions for filing return of income and self-assessment

CO 4Describe Goods and Services Tax, its concepts and various provisions.

CO 5Determine the GST liability and analyze various provisions related to registration, invoicing, accounts, returns and payment of tax under GST.

CO 6Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

 

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects.

 

18.00
Unit I: 
Deductions
  • Deductions from gross total income

 

 

18.00
Unit II: 
Computation of total income
  • Computation of total income and income-tax payable by an individual under the alternative tax regimes under the Income-tax Act, 1961 to optimise tax liability

 

18.00
Unit III: 
Advance Tax, TDS and Provisions for filing return
  • Advance Tax, Tax deduction at source and tax collection at source.
  • Provisions for filing return of income and self-assessment.

 

18.00
Unit IV: 
GST
  • GST Laws: An introduction including Constitutional aspects.
  • Levy and collection of CGST and IGST: Application of CGST/IGST law, Concept of supply including composite and mixed supplies, Charge of tax including reverse charge, Exemption from tax, Composition levy
  • Basic concepts of: Classification, Place of supply, Time of supply, Value of supply, Input tax credit

 

18.00
Unit V: 
Computation and Miscellaneous provisions under GST
  • Computation of GST liability, Registration, Tax invoice; Credit and Debit Notes; Electronic way bill, Accounts and Records, Returns, Payment of tax

 

 

Essential Readings: 

• Study Material Published by Institute of Chartered Accountants of India

References: 

SUGGESTED READINGS:
• Girish Ahuja& Ravi Gupta, Professional Approach to Direct Taxes (Bharat Law House Pvt. Ltd, New Delhi
• Yogendra Bangar, Direct Taxes (Aadhya Publications)
• V.K Singhania, Direct Tax Law and Practice (Taxman Publication, New Delhi)
• Arun Kumar Scanner, SuchitraPrakashan (P) Ltd

E-RESOURCES:
• https://www.icai.org/post/intermediate-nset
• http://www.e-book.com.au/freebooks.htm
• https://www.doaj.org/

JOURNALS:
• The Chartered Accountant Journal /
• ICAI Student Journal

Academic Year: 
2024-2025
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