Principles of Taxation Law
Guru Ghasidas Vishwavidyalaya · LL.B. Semester 8 · LAIHTT1N
Unit I — Introduction and Basic Concepts of Taxation
History and objectives of taxation in India · classification of taxes · distinction between direct and indirect taxes · meaning and characteristics of tax, fee, cess and surcharge · tax structure in India · concepts of tax avoidance, tax evasion and tax planning · income not included in total income including agricultural income and income from property held for charitable and religious purposes · residential status of assessee and scope of total income under the Income Tax Act.
- 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
- Income Tax, Residential Status: Rules (Sec.6)
Unit II — Income from Salaries and House Property
Basis of charge under the head salaries · meaning and characteristics of salary · employer–employee relationship · allowances and perquisites · deductions from gross salary · income from house property including basis of charge, determination of annual value, deemed ownership and deductions.
Unit III — Business, Capital Gains and Other Sources of Income
Meaning of business or profession · income chargeable under profits and gains of business or profession · deductions, allowances and disallowed expenses · deemed profits · capital gains, capital assets, short-term and long-term assets and income chargeable under capital gains · income from other sources including casual income, family pension and taxation of dividends.
Unit IV — Clubbing of Income, Set-off, Deductions and Tax Collection Procedures
Clubbing and aggregation of income · set-off and carry forward of losses · deductions from gross total income · rebate and relief · tax collection and recovery including TDS, TCS, advance tax, liability for payment, computation, instalments, consequences of default and modes of recovery.
Unit V — Income Tax Authorities, Assessment, Appeals and GST Overview
Appointment, powers and functions of Income Tax Authorities · return of income, PAN, Aadhaar, kinds and procedure of assessment and refunds · settlement of cases · appeals and revisions · penalties, offences and prosecutions · constitutional background and basic concepts of GST including the Constitution (One Hundred and First) Amendment Act.
- 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
- Advance Rulings, faceless assessment/e-assessment
- Goods and Service Tax: - law, procedure, applicability, assessment, advance ruling