PRINCIPLES OF TAXATION (SEMESTER - V)

Module-I: Historical Perspective and Introduction

Unit-1: Taxation in Ancient World and India in Particular
Unit-2: Meaning of Tax
a.
Types of Tax
b.
Difference between Direct Tax and Indirect Tax
c.
Difference between Tax and Fee
d.
Characteristics of Tax and Fee
Unit-3: Canons of Taxation and Characteristics of a Good Tax System
Unit-4: Taxation under the Indian Constitution
Unit-5: Ability to Pay
Module-II: General Perspective
Unit-1: Important Definitions
a. Previous Year
g. Agricultural Income
b. Assessment Year
h. Average Rate of Income Tax
c. Income Tax
i. Business
d. Assessee
j. Capital Asset
e. Person
k. Company
f. Total Income
Unit-2: Residential Status of Assessee
Unit-3: Scope of Total Income
Unit-4: Income Exempt from Tax
Unit-5: Concept of Advance Tax
Module-III: Income from Salaries
Unit-1: Meaning and Characteristics of Salary
Unit-2: Relationship of Employer and Employee
Unit-3: Income from Office not amounting to Employment
Unit-4: Incomes Forming Part of Salary
(a. Basic Salary b. Fees, Comission and Bonus c. Taxable Value of Allowances d. Taxable Value
of Perquisites e. Retirement Benefit)
Unit-5: Deductions from Gross Salary (Section 16)
Unit-6: Computation of Income from Salary
Module-IV: Income from House Property
Unit-1: Basis of Charge (Section 22)
Applicability of Section 22 (Buildings or lands appurtenant thereto, Ownership of
house property, Property used for own business or profession, Rental income of a
dealer in house property, House property in a foreign country)
Unit-2: Property Income Exempt from Tax
Unit-3: Computation of Income from Let Out House Property
(Determination of annual value, Gross annual value, Deductions under section 24)
Unit-4: Computation of Income from Self Occupied House Property
Unit-5: Deduction from Income from House Property

Module-V: Income from Profit and Gains of Business or Profession

Unit-1: Concept of Profit and Gains
Unit-2: scope of Section 28 (Basis of Charge)
Unit-3: Business, Profession and Vocation
Unit-4: Method of Accounting
Unit-5: Different Deductions under This Head
a. Schemes of Business Deductions
b. Specific Deductions under this Act
c. Deductions under sections 30 & 31
Unit-6: Depreciation
Module-VII: Tax Avoidance, Tax Evasion and Tax Planning
Unit-1: Basic Concept of Tax Avoidance, Tax Evasion and Tax Planning
Unit-2: Reason of Tax Avoidance, Tax Evasion
Unit-3: Distinction between Tax Avoidance and Tax Evasion
Unit-4: Recommendation of Wanchoo Committee to Fight Tax Evasion
Unit-5: Effect of Tax Avoidance and Tax Evasion
Module-VIII: Indirect Tax
Unit-1: Service Tax
Unit-2: Excise Duty
Unit-3: Custom Duty
Unit-4: Sale Tax