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PRINCIPLES OF TAXATION LAW (SEMESTER - V)

Module-I: Introduction
Unit-1: Meaning of Tax
a. Types of Tax
b. Difference between Direct Tax and Indirect Tax
c. Characteristics of Tax, Fee and its differences
d. Difference between Tax and Duty
e. Concept of Cess and Surcharge
f. Principle of Ability/Capacity to pay

Unit-2: Taxation under the Indian Constitution


(Article-265, 246 & Specific Entries of Schedule-VII)
Unit-3: Canons of Taxation by Adam Smith and Additional/Modern Canons

Module-II: General Perspective


Unit-1: Important Definitions
a. Previous Year f. Company
b. Assessment Year g. Average Rate of Income Tax
c. Income h. Business
d. Assesse i. Capital Asset
e. Person j. Total Income
Unit 2: Charge (Section 4)
Unit-3: Residential Status of Assesse
Unit-4: Scope of Total Income
Unit-5: Basic Concept of Total Deduction at Source (TDS)
Unit-6: Agricultural Income and Its Tax Treatment

Module-III: Income from Salaries


Unit-1: Meaning and Characteristics of Salary
Unit-2: Relationship of Employer and Employee
Unit-4: Incomes Forming Part of Salary
(a. Basic Salary b. Fees, Commission and Bonus c. Taxable Value of Allowances d. Taxable Value
of Perquisites e. Retirement Benefit)
Unit-5: Deductions from Gross Salary (Section 16 and 80)

Module-IV: Income from House Property


Unit-1: Basis of Charge (Section 22)
Unit-2: 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-3: 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-5: Different Deductions under This Head
a. Schemes of Business Deductions
b. Specific Deductions under this Act
c. Deductions under sections 30 & 31

Module-VI: 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 –VII Income Tax Authorities


Unit-1: Hierarchy
Unit-2: Appointment
Unit-3: Powers: Search and Seizure- Section 132
a. Fulfillment of statutory Conditions
b. Test of ‘Reason to believe’

Module-VIII: Miscellaneous

Unit-1: An Overview of Custom Duty


Unit-2: Introduction to DTC Bill
Unit-3: Basic Concept of GST

Prescribed Books:

1. A C Sampath Iyengar, The Law of Income Tax, Bharat Law House


2. Chaturvedi and Pithisaria’s Income Tax Law
3. Girish Ahuja & Ravi Gupta, Direct Tax- Law and Practice
4. Girish Ahuja & Ravi Gupta, Direct Taxes Ready Reckoner (Bharat Publication)
5. Kanga, Palkhiwala and Vyas, The Law and Practice of Income Tax (Lexis Nexis
Butterworths)
6. Vinod K Singhania and Kapil Singhania, Taxman’s Direct Tax- Law and Practice.