Taxation Law (Income Tax, Goods and Services Tax)

Unit 1 — Basic concept

Direct and indirect tax, History of tax law in India, Principles of charging income tax, exemption and deduction, tax evasion, tax avoidance, tax planning, rate of tax

• History of Tax Law in India
• Nature and Scope of Tax

Unit 2 — Definitions

person, Assessee, Assessment year, previous year, income, gross total income, heads of income, casual income, business, capital assets. Capital receipts and revenue receipts, capital expenditure and revenue expenditure, and amalgamation

• Definition: Persons, Assessees, Previous year, Assessment years, Financial year, Income, Gross Taxable Income, Taxable Income, Agricultural Income, Tax Evasion and Tax Avoidance

Unit 3 — Residential status of assessee

Residential status of assessee, and scope of total income, income deemed to be received/accrued or arise in India, and income which do not form part of total income

• Income Tax, Residential Status: Rules (Sec.6)

Unit 4 — Heads of income

income from salary, income from house property, income from profits, gains from business or profession, income from capital gains, and income from other sources

• Heads of Income: Income from Salary, House property, Business and Profession, Capital Gain and other sources

Unit 5 — Deduction of gross total income

Deduction of gross total income, computation of total income and tax payable thereon, filing of return of income, relief when salary, etc, paid in arrears or in advance

• Tax Liability Exemption, Deduction, related to individual, Expenses & Income, Rebate, Deemed income and clubbing of income
• Calculation of Gross Total and Taxable income, Tax rebate and Computation of Tax Liability

Unit 6 — Assessment

Assessment, self-assessment, inquiry before assessment, best judgment assessment, income escaping assessment

• Assessment Procedure
• Types of Assessment Income Tax Authority: Their function, Duties and Powers, Appeal, Offences, Fines and Penalties, Settlement of grievances and Prosecution, Income Tax Act, 1961, Income Tax Rules

Unit 7 — Appeal and revision.

Appeal and revision

Unit 8 — Constitutional aspects of goods and service tax in India

Basic concept, constitutional amendment, and scheme

• Constitutional provisions relating to Taxation
• Goods and Service Tax: - law, procedure, applicability, assessment, advance ruling

Unit 9 — Legislative aspects of goods and services in India

Relevant legislations in force in connection with goods and services in India, payment of tax, and filing of returns, refund, liability, appeal, and revision

• Goods and Service Tax: - law, procedure, applicability, assessment, advance ruling