COURSE OUTLINE

GIFT BUSINESS SCHOOL

BSc.AF-Advanced Taxation-BLW-401
MSc.AF-Advanced Taxation-BLW-601
M.Com-Advanced Taxation-BLW-601

Fall 2020

Faculty: GIFT Business School

Credit hours: 3
Semester Spring 2020
Program:
Course Convenor: Muhammad Ayyaz
WhatsApp:
Email: m.ayyaz@gift.edu.pk
LMS Link:
Consultation Hours Saturday (To be notified by instructor)
Pre-requisite: Taxation
Timing As per University Time Table
This document was last updated: 07 August 2020
COURSE DESCRIPTIPN
This course instills tools that are necessary to understand and enhance the Advance level of Income and Sales
Tax. The course continues from the pre-requisite course of Taxation where emphasis was on association of
persons and companies. The aim is to provide the students with detailed knowledge on advance level of
taxation for assets and depreciation, method of accounting, accounting records, payment of tax, tax
credits, taxation of association person, taxation of companies and assessment procedures, set off &
carry forward of losses and appeals & revisions including advance concepts of sales tax.

COURSE OBJECTIVES
By the end of the course, students will be able to understand theoretical framework and practical application
of:
 Income tax laws in Pakistan
 Computation of taxable income and tax liability of AOP and companies
 Sales tax laws in Pakistan

COUSE OUTCOMES
At the end of this course, students would be expected to understand the accounting system and financial
statements of different types of companies.
Expected cognitive outcomes include the development and demonstration of a high level of skills in:
 Understanding of the Pakistan tax system through the study of more advanced topics.
 Identify and evaluate the impact of relevant taxes on various situations and courses of action, including the
interaction of taxes.
 Provide advice on minimising and/or deferring tax liabilities by the use of standard tax planning measures
information literacy.
 Communicate with clients and other professionals in an appropriate manner.
 Ability to assume responsibility and make decisions

REATIND MATERIAL
 Income Tax Notes, Khalid Petiwala
 Synopsis of Taxation in Pakistan by Mirza Munawar Hussain
 Tax Laws in Pakistan by Huzaima and Ikram

TERM PROJECT (IF NAY)

Not Applicable

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 Class Topics To Cover Teaching Material Reading Material Assessment
Session Activities
(Assignments,
Quiz, etc.)
1 Course Introduction and Pre-Requisite Slides and Interactive Lecture Slides
review Live Sessions on Lecture Notes,
Google Classroom
2 Tax credits: categories of tax credits, Slides and Interactive Lecture Slides Class
priority of tax credits. Live Sessions on Lecture Notes, Assignments
Google Classroom Book Chapter 17: through google
Tax Credits classroom
3 Tax credits: categories of tax credits, Slides and Interactive Lecture Slides Class
priority of tax credits. Live Sessions on Lecture Notes, Assignments
Google Classroom Book Chapter 17: through google
Tax Credits classroom
4 Taxation of association person: Slides and Interactive Lecture Slides Class
Taxation of professional firms, Live Sessions on Lecture Notes, Assignments
Taxation of AOP other than Google Classroom Book Chapter 05: through google
professional firm, Losses of AOP, Taxation of Persons classroom
discontinuation of business or
dissolution of AOP.

5 Taxation of association person: Slides and Interactive Lecture Slides Assignment /

Taxation of professional firms, Live Sessions on Lecture Notes, Quiz
Taxation of AOP other than Google Classroom Book Chapter 05:
professional firm, Losses of AOP, Taxation of Persons Assignment # 01
discontinuation of business or Quiz # 01
dissolution of AOP.
6 Assets and depreciation: Types of Slides and Interactive Lecture Slides Class
assets under income tax law, Live Sessions on Lecture Notes, Assignments
acquisition of an asset, cost of an Google Classroom Book Chapter 10: through google
asset, disposal of asset, depreciable Taxation of Persons classroom
assets, rates of depreciation
allowance, computation of
depreciation allowance, amortization
of intangibles.
7 Assets and depreciation: Types of Slides and Interactive Lecture Slides Class
assets under income tax law, Live Sessions on Lecture Notes, Assignments
acquisition of an asset, cost of an Google Classroom Book Chapter 10: through google
asset, disposal of asset, depreciable Taxation of Persons classroom
assets, rates of depreciation
allowance, computation of
depreciation allowance, amortization
of intangibles.

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8 Method of accounting and Slides and Interactive Lecture Slides Class
accounting records: Method of Live Sessions on Lecture Notes, Assignments
accounting prescribed by income tax Google Classroom Book Chapter 11: through google
law, income from long term Taxation of Persons classroom
contracts, records to be kept by
business taxpayer, records to be kept
by non-business taxpayer
9 Taxation of companies: Principles Slides and Interactive Lecture Slides Class
of taxation of companies, taxation of Live Sessions on Lecture Notes, Assignments
different types of companies and Google Classroom Book Chapter 25: through google
matters relating thereto, Minimum Taxation of Persons classroom
tax.
10 Taxation of companies: Principles Slides and Interactive Lecture Slides Class
of taxation of companies, taxation of Live Sessions on Lecture Notes, Assignments
different types of companies and Google Classroom Book Chapter 05: through google
matters relating thereto, Minimum Taxation of Persons classroom
tax.
11 Taxation of companies: Principles Slides and Interactive Lecture Slides Class
of taxation of companies, taxation of Live Sessions on Lecture Notes, Assignments
different types of companies and Google Classroom Book Chapter 05: through google
matters relating thereto, Minimum Taxation of Persons classroom
tax.
12 Taxation of companies: Principles Slides and Interactive Lecture Slides Class
of taxation of companies, taxation of Live Sessions on Lecture Notes, Assignments
different types of companies and Google Classroom Book Chapter 05: through google
matters relating thereto, Minimum Taxation of Persons classroom
tax.
13 Taxation of companies: Principles Slides and Interactive Lecture Slides Assignment /
of taxation of companies, taxation of Live Sessions on Lecture Notes, Quiz
different types of companies and Google Classroom Book Chapter 05:
matters relating thereto, Minimum Taxation of Persons Assignment # 02
tax. Quiz # 02
14 Payment of tax: Deduction of tax at Slides and Interactive Lecture Slides Class
source, statement to be filed with Live Sessions on Lecture Notes, Assignments
income tax department for tax Google Classroom Book Chapter 19: through google
deduced at source, advance payment Payment of tax classroom
of tax, payment of tax with return, tax
on demand, recovery of tax, and
refund of tax.
15 Payment of tax: Deduction of tax at Slides and Interactive Lecture Slides Class
source, statement to be filed with Live Sessions on Lecture Notes, Assignments
income tax department for tax Google Classroom Book Chapter 19: through google
deduced at source, advance payment Payment of tax classroom

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 of tax, payment of tax with return, tax
on demand, recovery of tax, and
refund of tax.
16 Filing of return of total income of Slides and Interactive Lecture Slides Class
AOP and companies: Date of filing Live Sessions on Lecture Notes, Assignments
of return, period of return, extension Google Classroom Book Chapter 05: through google
in the filing period, method of Taxation of persons classroom
furnishing return, revised return of
total income,
17 Filing of return of total income of Slides and Interactive Lecture Slides Assignment /
AOP and companies: Date of filing Live Sessions on Lecture Notes, Quiz
of return, period of return, extension Google Classroom Book Chapter 05:
in the filing period, method of Taxation of persons Assignment # 03
furnishing return, revised return of Quiz # 03
total income,
18 Assessment procedures: Slides and Interactive Lecture Slides Class
Return of income as assessment, Self- Live Sessions on Lecture Notes, Assignments
assessment scheme, Best judgment Google Classroom Book Chapter 20: through google
assessment, Provisional assessment, Assessment classroom
amended assessment, limitation for Procedures
assessment, rectification of mistakes.
19 Assessment procedures: Slides and Interactive Lecture Slides Assignments
Return of income as assessment, Self- Live Sessions on Lecture Notes, through google
assessment scheme, Best judgment Google Classroom Book Chapter 20: classroom
assessment, Provisional assessment, Assessment
amended assessment, limitation for Procedures
assessment, rectification of mistakes.
20 Set off and carry forward of losses: Slides and Interactive Lecture Slides Class
Loss from a source of income, set off Live Sessions on Lecture Notes, Assignments
of losses, carry forward of losses Google Classroom Book Chapter 18: through google
from business, carry forward of Set off and Carry classroom
losses of banking companies, Forward of Losses
speculation business, capital losses,
AOP, and certain companies.
21 Set off and carry forward of losses: Slides and Interactive Lecture Slides Assignments
Loss from a source of income, set off Live Sessions on Lecture Notes, through google
of losses, carry forward of losses Google Classroom Book Chapter 18: classroom
from business, carry forward of Set off and Carry
losses of banking companies, Forward of Losses
speculation business, capital losses,
AOP, and certain companies.
22 Income tax authorities’ Slides and Interactive Lecture Slides Assignments
appointment, control, jurisdiction, Live Sessions on Lecture Notes, through google
powers. Google Classroom Book Chapter 02: classroom
Income Tax
Authorities

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23 Income tax authorities’ Slides and Interactive Lecture Slides Assignment /
Live Sessions on Lecture Notes, Quiz
appointment, control, jurisdiction, Book Chapter 02:
powers. Google Classroom Income Tax Authorities Assignment # 04
Quiz # 04
24 Appeals and revisions: Appeal to Slides and Interactive Lecture Slides Assignment /
commissioner of Income Tax Live Sessions on Lecture Notes, Quiz
(appeal), Income Tax Appellate Google Classroom Book Chapter 23:
Tribunal, High Court and Supreme Appeals and Assignment # 05
Court. Appeal procedures, burden of revisions. Quiz # 05
proof, authorized representative,
computation of limitation period.
Sales Tax:
25 Return of sales tax: sales tax return Slides and Interactive Lecture Slides Class
and matters relating thereto, revised Live Sessions on Lecture Notes, Assignments
return, special return, final return, and Google Classroom Book Chapter 32: through google
return filed by authorized Sales Tax Returns. classroom
representatives, effect of non- filing
of return or filing incorrect return.
26 Return of sales tax: sales tax return Slides and Interactive Lecture Slides Class
and matters relating thereto, revised Live Sessions on Lecture Notes, Assignments
return, special return, final return, and Google Classroom Book Chapter 32: through google
return filed by authorized Sales Tax Returns. classroom
representatives, effect of non-filing of
return or filing incorrect return.
27 Scope and payment of tax: charge Slides and Interactive Lecture Slides Class
of tax, zero-rating, time and manner Live Sessions on Lecture Notes, Assignments
of payment, determination of tax Google Classroom Book Chapter 29: through google
liability, debit and credit notes, Scope & Payment classroom
assessment of tax. of Tax.
28 Scope and payment of tax: charge Slides and Interactive Lecture Slides Class
of tax, zero-rating, time and manner Live Sessions on Lecture Notes, Assignments
of payment, determination of tax Google Classroom Book Chapter 29: through google
liability, debit and credit notes, Scope & Payment classroom
assessment of tax. of Tax.
29 Appeals: Appeal to collector Slides and Interactive Lecture Slides Class
(appeal), Appellate Tribunal, high Live Sessions on Lecture Notes, Assignments
court and Supreme Court. Appeal Google Classroom Book Chapter 34: through google
procedures, authorized representative. Appeals. classroom
30 Refund and recoveries: eligibility, Slides and Interactive Lecture Slides Assignment /
rules and documentation for refund, Live Sessions on Lecture Notes, Quiz
time limit for refund, period for Google Classroom Book Chapter 35:
claiming a refund, drawbacks Refund & Assignment # 06
Recoveries. Quiz # 06
END TERM EXAM

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ASSESSMENT

Item Assessment Task Frequency Weighting

1. Class Participation 23 15%

2. Assignments 6 20%
3. Quizzes 6 25%
4. Mid term examination - -
5. Final Examination 3 hours 40%

Students must complete each component of the assessment to the satisfaction of the course instructor, and
achieve an overall mark of at least 50% in order to pass the course. All components of the above
assessment are compulsory, and must be completed in order to obtain a pass grade. Students are expected
to perform satisfactorily in each item.

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COURSE POLICIES AND RULES
Ethical Standards
Developing professionalism in our students is the key objectives at each level. For that, behaving
ethically is at the heart of what it means to be a professional; it distinguishes professionals from others
in the marketplace. We have created a clear and streamlined set of professional and ethical standards to
guide our students.
All the students are required to:
 Act with integrity
 Always provide a high standard of output
 Act in a way that promotes trust in the profession
 Treat others with respect
 Take responsibility

Attendance:
A candidate with less than 80% attendance in class lectures, laboratory / field work, seminars, etc. will
not be allowed to take the Final Examination in a course. A student cannot withdraw due to shortage of
attendance.

A student not taking the examinations due to shortage of attendance will be graded “F”. It is the
responsibility of the students to keep a record of their attendance profile, and to ensure the correction of
their attendance record. Any omission of attendance due to late arrival or other reasons must be sorted
out by the student with the teacher concerned within 24 hours of the lecture. No excuse in this regard
will be accepted at the time of issuance of examination slips.

General requirement:
Enrolment in this course is undertaken on the basis that prior assumed knowledge has been gained by
the attainment of a grade of “pass” or above in the prerequisite course/s (if applicable). Failure to adhere
to this recommendation may result in you having difficulty with the course and not being able to
successfully complete it. Any additional support or special assistance cannot be expected or requested if
you have not completed the recommended prerequisite course/s.

1. To be eligible to pass GBS courses, students must demonstrate a reasonable degree of competence in
the required course objectives as examined in each form of assessment.
2. Non-submission of a piece of assessment will incur a fail grade for the GBS courses.
3. Students are expected to spend time outside of supervised class periods developing skills and
knowledge.
4. Any dishonest assignment will be penalized.

Dishonest assignment includes:

 Deliberate copying or attempting to copy the work of other students;
 Use of or attempting to use information prohibited from use in that form of assessment;
 Submitting the work of another person as your own;
 Plagiarism (i.e. taking and using the thoughts and writings of another person with the intent to

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 claim the work as your own);
 Any student found knowingly to have helped another student to produce an assignment dishonestly
will incur the same penalty as awarded to that student.

Full and detailed acknowledgement must be provided if contributions are drawn from the literature in
preparation of reports and assignments.

Prepared By: Name: Muhammad Ayyaz Signature

Reviewed By: Knowledge Unit Head Name Signature

Recommended By: Dean/HoD Signature

Reviewed by QEC Director QEC Signature

Approved By Online Academic Council Date