TAXATION LAWS AND PRACTICE

Course Code: BBALW 30501 Credit Units: 03

Course Objective:
The objective of the course is to apprise the students with the fundamental of Taxation in India.

Course Contents:
Module I: Concepts
Previous year, Assessment year, Income, Total Income, Gross Total Income, Capital and Revenue Receipts/
Expenditures, Exempted Incomes, Residential Status and incidence of Tax.

Module II: Direct Tax

An overview of Provisions of House Property, Business or Profession, Capital Gains and other Sources. Direct
Tax Authorities, Tax Law Requirements for Accounting System including books, Records, Vouchers etc. to be
maintained, Procedure of filing of tax return, Payment of advance tax, Tax deduction source.

Module III: Indirect Tax

Introduction to Provisions related to Sales tax, Excise

Module IV: Assessment of Individual

Computation of Income: Salary: Clubbing of Income, Set Off and Carry Forward of Losses, Deduction u/s 80

Module V: Corporate Tax

Computation of taxable income. Special provisions in computations of Profits from Business, Deductions from
Gross total Income. MAT, Set Off & carry forward of losses in companies.

Module VI: Tax Planning

Tax Planning, avoidance, evasion, tax planning with reference to financial management decisions

Examination Scheme:
CT HA C V A EE
Components
Weightage (%) 10 5 5 5 5 70

Text & References:

Text:
 Singhania, V.K, Direct Taxes, Taxmann Publication

References:
 Pagare, Dinkar, Direct Taxes Law and Practices
 Mehrotra, H.C. Direct Taxes Law and Practices