Taxation

Unit 1 — General: Concept, Nature, Characteristics and Types of taxes

General: Concept, Nature, Characteristics and Types of taxes

• History of Tax Law in India
• Constitutional provisions relating to Taxation
• Nature and Scope of Tax

Unit 2 — Income Tax Act, 1961

Income Tax Act, 1961

• 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)
• 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
• 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

Unit 3 — Indirect Tax Regime - GST

GST; 122nd Amendment, CGST, IGST/SGST, UTGST and STT

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

Unit 4 — Custom Laws

Legislative background of the levy - Ports - warehouses · Nature and restrictions on exports and imports · Levy, exemption and collection of customs duties; overview of law and procedure · Clearance of goods from the port, including baggage · Goods imported or exported by post, stores and goods in transit · Duty drawback provisions, Authorities - SEZ Units