THE UNIVERSITY OF LAHORE

LAHORE BUSINESS SCHOOL

BUSINESS LAW AND TAXATION

BACHELORS OF BUSINESS ADMINISTRATION

SEMESTER FALL 2021

INSTRUCTOR: Ch. Ahtesham Ul Haq - ADVOCATE EMAIL: Ahtesham.haq@lbs.uol.edu.pk

COURSE CODE: LAW 23204 COURSE CR. HRS: 3HRS

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I. COURSE DESCRIPTION:

The course basically deals with the introduction of those commercial laws which are directly or indirectly related to
business. It comprises a short study of civil, criminal and Taxation laws which are associated to business. This
incorporates Law of Contract, The Negotiable Instrument Act, The Sales of Goods Act, The Partnership Act, Income
Tax Ordinance and Sales Tax Act.
The emphasis in this course is to introduce the students with the practical concepts of conventional Business law
and its implementation in the contemporary financial institutions. The course is designed in such a way to show
the basic philosophy of conventional Business law along with some example from case studies.

II. Program Learning Objectives:

In BBA program courses are designed to achieve the following objectives and to accomplish the given learning
outcomes upon the successful completion of these objectives.
Program Objectives Program Learning Outcomes
Goal 1. Core Business Knowledge: Developing 1. Demonstrate mastery in understanding,
an in-depth understanding of major business identifying and applying the major concepts,
subjects such as accounting, finance, information theories and tools of major business disciplines
system, management, marketing, operations
management and entrepreneurship which are 2. Handle complex business situations and support
essential for effective decision making in business decisions by applying a core body of
workplace settings discipline-specific knowledge and integrating
theoretical knowledge of management sciences

Goal 2. Critical and Analytical Skills:
Developing and fostering critical thinking skills
along with operational analytical problem-solving
skills among future leaders for better business
solutions and decision making
Goal 3. Communication Skills: Developing and
improving knowledge, skills and attributes of
students required for effective oral and written
business communication in workplace settings
3. Use critical and analytical thinking skills to
identify and analyze key variables involved in
complex business problems
4. Use critical and analytical skills in exploring
viable and multiple options that can generate
short-term and long-term benefits for
organizations and their stakeholders
5. Demonstrate proficiency in vocabulary,
grammar and syntax for effectively presenting
ideas in writing business documents.
6. Present material orally with clarity and in an
organized manner

7. Demonstrate competency in understanding

Goal 4. Leadership and Team Work:
Developing skills, attributes and attitudes
necessary to work effectively as leaders and team
members.
core concepts, theories and significance of
leadership and team-based work.
8. Understand and apply leadership skills at
different levels within team and organization

9. Lead and participate in teams to attain desired

organizational outcomes.

Goal 5. IT Skills: Polishing students’ knowledge 10. Demonstrate technological expertise while
and skills related to relevant IT software for generating and presenting business
improving their decision-making abilities information.

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Goal 6. Innovation and Entrepreneurial
mindset: Developing and fostering innovative
entrepreneurial mindset among graduates
enabling them to identify a suitable business
opportunity while taking into account
environmental factors
Goal 7. Social, Legal and Ethical
Responsibilities: Building students’ behavior and
knowledge towards social, legal and ethical
concerns in organizations
Goal 8. Global Perspective: Building students’
knowledge and skills required to work with
diverse workforce in global working environment
11. Use a range of computer applications required
to address the business needs
12. Have an understanding of roles and tasks for
becoming an entrepreneurial business
professional
13. Understand concepts, tools, processes and
practices for exploring and implementing
emerging entrepreneurial opportunities and
generating business plans
14. Understand and identify legal, social and ethical
dilemmas that impact everyday working
practices from moral perspectives
15. Demonstrate competency in identifying and
resolving ethical issue important for
organizations and its key stakeholders
16. Understand global issues related to the business
and their influence on local and international
business communities
17. Demonstrate awareness of the economic,
social, cultural, technological and political
environments within international business
function

III. Mapping of Course Learning Outcomes with Program Learning Outcomes (CLOs-PLOs
Matrix):
The courses are designed to fulfill these objectives such that at the end of the course, the students shall
have developed the following abilities:

No Course Learning Outcome Learning Outcomes from the Program

Students will be able to 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

understand
1 The different forms of
organization and can identify
which form suits to the business
model.
2 The philosophy of Law and its √
importance in business.
3 Drafting of contracts and its √
implications in business
transactions.

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4 Practical application of √ √
commercial Law in the modern
market.
5 Calculation of Tax and its impact √ √
on business transactions.
6 Registration of business √ √
organizations and online filing of
Income Tax.

IV. COURSE MATERIAL:

 Business Law by Mohana Rao
 Law of Contract 1872.
 Sale of Goods Act 1930.
 The Negotiable Instrument Act 1881.
 The Intellectual Property Rights Act.
 The Company’s Ordinance 1984.
 The Partnership Act 1932.
 Income Tax Ordinance 2001.
 Sales Tax Act 1990.

V. TRAINING METHODS:
In addition to lectures, the instructor will also use following training methods during 16 weeks semester,
32 sessions (for details – please refer lesson plan)
 Multiple class activities
 Individual Presentations
 Case Study
 Formation of a Contract
 Practical approach of Tax Calculation

VI. Soft Skills and Personal Effectiveness:

At the end of the course, the students shall be able to:

 Manage time effectively;
 Develop analytical skills;
 Comprehend the given information;
 Prioritise workload and adhere to strict deadlines;
 Demonstrate excellent interpersonal, communication and presentation skills;
 Pay close attention to detail;
 Demonstrate numerical competence;
 Lead and motivate teams to achieve the set goals;
 Behave professionally and ethically in all business and personal matters.

VII. Evaluation Criteria:

Quizzes 10%
Assignments 10%
Final term project 15%
Mid-term Exams 25%

Final Exam 40%

Total 100%

VIII. Grading Criteria:

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 The student’s course score is associated with letter grades as per following grid:
 
Class Score                Grade
85% or above              A
<= 80% < 85%                  A-
<= 75% < 80%                   B+
<= 70% < 75%                  B
<= 65% < 70%                  C+
<= 60% < 65%                  C
<= 55% < 60%                 D+
<= 50% < 55%                  D
Less than 50%                F

IX. WEEK-WISE CONTENT BREAK-UP:

Week Lecture Contents

Introduction to Law & Business
Introduction to Business and its types, Forms of Business organizations such as sole
1 1
proprietorship, partnership and limited companies, Business Rules, Laws and
Regulations, Different Sources of Laws and its kinds.
Taxation in Pakistan – Part 1
1 2 Introduction, Classification of Tax, Kinds of Taxes, Definitions & terminologies use in
Tax Laws.
Taxation in Pakistan – Part 2
2 3 Scope of Tax, Income Exempted from Tax, Heads of Income, Salary-Property-
Business-Capital Gain & Other Sources.
2-3 4-5-6 Income from Salary – Calculation of Gross Income, Taxable Income & Tax Liability.
4-5 7-8-9 Income from Property & Business – Calculation of Total Income & Tax Liability.
Capital Gain and Income from Other Sources – Calculation of Gross Tax and Net Tax
5 10
Payable.
Taxation in Pakistan – Part 3
6 11 Advance Tax, Deduction of Tax at Source and Transitional advance Tax, Minimum
and Final Taxation.
Taxation in Pakistan – Part 4
7 12
Tax Authorities, Appeals, Administrative Bodies.
Taxation in Pakistan – Part 5
13-14-
7-8 Introduction to Sales Tax, Book keeping & Invoicing Requirement, Input Tax, Output
15
Tax, Zero Rated, Exempted and Tax Cycle.
8 16 Revision
9 Mid Terms
Taxation in Pakistan – Part 6
10 17-18
Online Income Tax Returns & Sales Tax Returns Filing – Practical Learning.
Contract – Part 1
11 19-20 Introduction, Agreement & Contract, Offer-Acceptance-Consideration, Essential
elements for a valid Contract, Kinds of Contract, Capacity to Contract, Free Consent.
Contract – Part 2
12 21 Performance of Contract, Demand of Performance, Who may perform the Contracts,
Original contract which need not to be performed.
Contract – Part 3
12 22 Discharge of Contract, Modes of discharge, Breach of Contract, Remedies for breach
of Contract.
13 23-24 Contract – Part 4
Special Contracts, Contingent Contracts, Contract of Bailment, Contract of Indemnity
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 and Contract of Agency.
Partnership
13 25-26 Definition, Nature of Partnership, Relationship of Partners, Incoming and Outgoing
Partners, Formation and Dissolution of Firm.
Sales of Goods Act
14 27-28 Contract of sale, Conditions and Warranties, Performance of the contract of Sale,
Unpaid Seller and its Rights.
Negotiable Instrument Act
Classification of negotiable Instruments, Classes of Negotiable Instruments, Parties
14 29
to Negotiable Instruments, Presentation, Dishonour and Discharge of Negotiable
Instruments.
Intellectual Property Rights
14 30 Definition, Types of Intellectual Property, Administrative body, Protection of Trade
Marks-Copy Rights-Patents.
The Company’s Act
Formation and Incorporation of Company, Legal Position of Directors their
14 31
Appointment and Remuneration, Meetings and Resolutions, Dissolution of a
Company.
15 Project
16 32 Revision
Final Exam

** Note: Last lecture before mid and end term exams will be a revision session.

X. Consultation Protocol:
All relevant inquiries will be encouraged and it is highly advisable to ask them during lecture or
consultation time. However, if any query is missed during those times, please ask via email. Consultation
hours are as follows:

Monday to Friday 10:00 am to 12:00 pm

XI. Final Project:

The research project is a written paper assignment that should be a minimum of 8 to 15 pages, plus
supporting material, and preferably no more than 15 pages (All papers in MS Word format and Excel for
Tax Calculation). A presentation is also required as part of this assignment. The project shall include:

 Establishment of Partnership firm, represented in Partnership Deed.

 A Contract with Investor for raising funds. OR
 A contract of purchase with Vendors.
 At least five Purchase bills and five Sales Tax Invoices.
 Calculation of Income Tax on Salary and Business Income.
 Explain the procedure of Filing Sales Tax & Income Tax Returns.

Format:
Times New Roman, Font Size12, line spacing 1.5, all justified header footer 0.5 each
Headings Bold Font Size 14

XII. Plagiarism Policy:

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 Academic offences like cheating, plagiarism (in any form, type or kind) weaken the distinctive ethical
character of the university and for the very reason, LBS takes them very seriously and holds punishable
under the university disciplinary system. All such cases are referred to Exam Cell for initial investigation.
Exam Cell, if deems appropriate, forwards the case LBS Disciplinary Action Committee for inquiry as per
university policy. In case a student is found involved in cheating/plagiarism (of any form, type or kind), the
offender may be:
 Expelled/Rusticated from the Business School and/or from joining any institution of Higher Education in
Pakistan.
 Relegated to a lower class.
 Given a failure grade in the subject.
 Fined an amount as deemed appropriate.
 Carry out social responsibility activity.
 Any other penalty as recommended by the Disciplinary Action Committee.

XIII. Case Studies and Research Papers:

Important Note: This course outline works under general policy guidelines and rules & regulations of the university.

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