TAXATION LAW & PRACTICE

Paper Code: 
24ATG /24BSG/24FSG 121
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

This course will enable students to familiarize with latest provisions of Indian Tax laws with respect to different corporate and non-corporate entities.

 

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

24ATG/24BSG/24FSG 121

Taxation Law & Practice

(Theory)

CO1: Attain an understanding of the provisions of the Income Tax Act, 1961, the difference between direct and indirect tax and assessment of Firm and AOP.                       

CO2: Acquire knowledge regarding assessment of HUF.

CO3: Interpret the special provisions of income tax related to the assessment of companies.                            

CO4: Explain the residential status and assessment of non- Resident Indians.

CO5: Analyze the concept of tax planning, avoidance, evasion and management and develop an understanding of the tax planning with reference to an individual assessee.

CO6: Contribute effectively in course-specific interaction

Approach in Teaching: Interactive Lectures, Discussion, Tutorials, Problem Solving Sessions & Presentations

 

Learning activities for the students: Self-learning assignments, Case Study Analysis, Class Presentations (Individual & Group)

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments,

Individual & Group Projects

 

18.00
Unit I: 
Overview of Direct Taxes & Assessment of Firm & AOP

● Canons of Taxation, Requirement of good Tax Structure, Taxes vs. Fees, Constitutional Background for Direct and Indirect Tax, Difference Between Direct and Indirect Tax

● Assessment of Firms including LLP.

● Assessment of AOP

18.00
Unit II: 
Computation of taxable income of HUF

      ●   Provisions related to HUF and Computation of tax liability​

  • Partial Partition & Complete partition
18.00
Unit III: 
Computation of taxable Income of Companies
  • Assessment of Companies: Detailed Study of Income Tax law and rules with reference to Assessment of companies.
  • Computation of Tax Liability. Assessment Procedure.

 

18.00
Unit IV: 
Assessment of Non- Residents

● Residential status and Scope of Income
● Presumptive taxation, Exempt income of Non-residents
● Special provisions u/s 115C to 115I

18.00
Unit V: 
Tax Planning, Tax Avoidance, Tax Evasion & Tax Management

● Concept of Tax Planning, Tax Management, Tax Avoidance and Tax Evasion and difference between them. Objectives, types, areas and requisites of Tax Planning
● Personal Tax Planning of an Individual Assessee : Tax Planning with reference to an Individual

Essential Readings: 
  1. Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot) (Unit I and II)
  2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya (Unit I and II)
  3. Direct Tax-Shah, Mangal, Mendiratta, Saini (Ramesh Book Depot) (Unit III, IV and V)
  4. Direct Tax including Tax Planning and Management- H C Mehrotra

 

References: 

Suggested Readings: 1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi)

2. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd

3. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)

e-Resources:

1. https://www.incometaxindia.gov.in/pages/tutorials.aspx

2. https://www.taxmann.com/virtualbooks/product/6695-income-tax-act-2021-vi...

Academic Year: 
2024-2025
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