Principles of Taxation Law

Unit 1 — Introduction to Taxation Law

1.1 Tax- Meaning, Concept, Origin, Characteristics, Classification, Fundamental Principles. · 1.2 Tax system before Indian independence-ancient, medieval and modern India · 1.3 Distribution of legislative powers regarding taxation · 1.4 Constitutional Safeguards regarding Taxation · 1.5 Role of tax system in national economy

• History of Tax Law in India
• Constitutional provisions relating to Taxation
• Nature and Scope of Tax
• Definition: Persons, Assessees, Previous year, Assessment years, Financial year, Income, Gross Taxable Income, Taxable Income, Agricultural Income, Tax Evasion and Tax Avoidance

Unit 2 — Income Tax Act, 1961

2.1 Concept and Mechanism of Income Tax; Definitions- Income, Previous Year, Assessment Year, Residential Status, Receipts and Expenditure; Distinction between Capital and Revenue; Basis of Charge and Scope of Total Income · 2.2 Heads of Income and Computation of Total Income under various heads- Income from salaries, Income from House property, Profits and gains from Business or Profession, Capital gains, Income from other sources · 2.3 Income which do not form part of Total Income · 2.4 Clubbing Provisions, Set off and Carry forward of Losses, Deductions; Assessment of Income of different persons; Corporate Taxation; · 2.5 Tax Deduction at Source, Tax Collection at Source, Advance Tax, Self-Assessment Tax · 2.6 Income Tax authorities: Appointment, jurisdiction, powers · 2.7 Notice of demand, special provisions, refunds, appeals, revisions and penalties · 2.8 Assessment, return and best judgment assessment

• Income Tax, Residential Status: Rules (Sec.6)
• Tax Liability Exemption, Deduction, related to individual, Expenses & Income, Rebate, Deemed income and clubbing of income
• Carried forward and Set of losses
• Heads of Income: Income from Salary, House property, Business and Profession, Capital Gain and other sources
• Calculation of Gross Total and Taxable income, Tax rebate and Computation of Tax Liability

Unit 3 — Goods and Services Tax(GST):

3.1 Introduction , meaning, origin, advantages and disadvantages · 3.2 Constitutional provisions and GST · 3.3 GST- Implementation, Liability of the Tax Payer, Levy, Composition Scheme, Remission of Tax · 3.4 GST Council- Composition, Functions and Role · 3.5 Registration Procedure · 3.6 Meaning and Scope of Supply- Taxable Supply, Supply of Goods and Supply of Services, Course or Furtherance of Business, Special Transactions · 3.7 Valuation in GST- Transaction Value, Valuation Rules · 3.8 Payment of GST- Time of GST Payment, How to make payment, Challan Generation & CPIN, TDS and TCS

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

Unit 4 — International Taxation

4.1 Double Taxation Avoidance Agreements (DTAA) · 4.2 India's Mutual Agreement Procedure (MAP) · 4.3 Transfer Pricing · 4.4 TDS rates under DTAA · 4.5 Tax rates as per Income-tax Act vis-à-vis tax treaties · 4.6 Utility on DTAA · 4.7 Withholding Tax

Unit 5 — Miscellaneous

5.1 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 · 5.2 Assam Agricultural Income Tax Act, 1939