Course Outline Income Tax Law

Course Synopsis:

The course Income Tax Law is an assortment of The Income Tax Ordinance 2001. It enfolds nature and scope of Income Tax law, residential status and incidence of tax, salary & its computation, income from property & its computation, income from business and its computation, capital gain & its computation, income from other sources and its computation, clubbing of income, set-off and carry forward of losses, allowances and tax credits, presumptive income, returns and assessment of income, advance tax and deduction of tax at source, collection and recovery of tax, penalties and prosecution, appeals and references. The course center of attention is to achieve the following objectives:
(1) to evaluate the socio economic

Course Objective:

importance of the tax law in Pakistan.

(2) to develop an intellectual bond

between the students and the subject. (3) to develop foundation as to unveil the true essence and spirit of the income tax law. (4) to make the minds attuned with the philosophy of the tax law . (5) to evaluate the contribution of

precedent or case law in enhancing the scope of the subject. (6) to create professional and analytical abstract thinking vis-a-vis the subject matter of the subject. (7) to enable the participants to calculate total income chargeable to tax.
Learning Outcomes:

After comprehending the subject, the students will be able to: (1) apply the principles of income tax law in resolving the tax disputes. (2) Understand the relationship between tax and taxation. (3) Appreciate the importance of taxation as a fiscal tool in the growth of an economy. (4) exercise analytical abstract technique in gauging the authenticity or validity of tax imposed on tax payer. (5) participate in legal debates vis--vis the details of the income tax law. (6) Prepare different kinds of income tax returns. (7) discuss the pros and cons of the principles of taxation. (8) Identify the distinct importance of the tax law in the Lex fori of Pakistan.

Lecture Topics & References

Week/date 01

Topic What is law Austiniens Definition of law , Aristotles definition of law classical definition of law-simple definition of law-why laws are made?who makes laws?what is justice? relationship between law and justice.

References/Relevant Section (s )

02

03 04 05 06 07 08 09

Inclusive definitionsexclusive definitionsinclusive as well as inclusive definitions. Income exempt from tax Salary Income from property Income from business Depreciation Capital gains Appeals

Section 2

Section 41 to 51 Section 11 Section 15 Section 18 Section 22 Section 37 Sections 121,122,127, 143,144, 162, 170, 182, 183, 184, 185.186, 187, 188, 189, 161, 172, 205, 221. Sections 56, 56 A

10 11

Self Assessment scheme Set off and carry

12

forward of losses Penalties, offences and prosecution

13 14 15

16 Recommended Books: (1) Income Tax Law by Dr. Ikram-ul-Haq (2) Income tax law by Munawar Mirza (3) Income Tax Law by Moazam Mughal (4) Income Tax Law by S.A Salam

Income tax authorities Appellate tribunal Reference to High Court Tax accounting

Section 182 (1) (2) Section 183 Section 186 Section 192 Section 192 A Section 207 Section 130 Section 133 Section 32 to 36