INCOME TAX LAW & PRACTICES II

Paper Code: 
COM 401
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Course Outcomes

 

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO124: Estimate the income under the head “Income from Capital Gain” & “Other Sources”.

CO125: Acquire knowledge regarding provisions of set off and carry forward of losses along with deemed income.

CO1236: Student will measure the total income of an individual after defining deductions U/S 80 C to 80 U.

CO127: Student will compute tax liability of an individual.

CO128: Devise the  amendments made from  time to time in Finance Act.

Interactive Lectures, Discussion, Tutorials, Team teaching

 

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

10.00

:    Computation of taxable income under the head Capital Gain 

10.00

Computation of Taxable Income under the head Income from Other Sources

                Deemed Income

10.00

Set off and carry forward of Losses,

Deductions from Gross Total Income, 

10.00

Tax Rates, Rebates and Reliefs, Assessment of Individual

 

5.00

Procedure of Assessment

·        Filling of Return as Statutory Obligation,

·        Timing of Filing of Return of Income,

·        Defective of Incomplete Return, Belated Return of Income,

·        Permanent Account Number (PAN), Signature on Return,

Types of Assesment, Introduction to TDS and Advance Payment of Tax

Essential Readings: 

ESSENTIAL READINGS:

  • Agarwal, Jain, Sharma, Shah, & Mangal Income Tax   Ramesh Book Depot
  • Patel, Chaudhary, Sharma, Modi & Bardia Income Tax Chaudhary Prakashan

 

 

References: 

SUGGESTED READINGS:

  • Ahuja, G.& Gupta  , R. Professional Approach to Direct Taxes Bharat Law House Pvt Ltd, New Delhi
  • Manoharan, T.N . Direct Tax Laws   Snowwhite Publications P  Ltd
  • Singhania, V.K.  Direct Tax Law and Practice   Taxmann Publication, New Delhi
  • Pagare,D.  Law and Practice of IncomeTax  M/S Sultan Chand& Sons
  • Bhargav,S.  Income Tax for Students, Mashbara Industries
  • Mehrotra, H.C. Income Tax Law and Accounts  Sahitya Bhawan

 

 

e  RESOURCES:

 

JOURNALS:

  • Tax World
  • Indian Journal of Finance
  • IUP Journal of Applied Finance
  • The Indian Journal of Commerce

 

Note:  The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.

 

 

 

 

 

Academic Year: 
2022-2023
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