Law of Taxation
Osmania University · LL.B. Semester 6 · P-I
Unit I
Constitutional basis of power of taxation · Article 265 of Constitution of India · Basic concept of Income Tax · Outlines of Income Tax Law · Definition of Income and Agricultural Income under Income Tax Act · Residential Status · Previous Year · Assessment Year · Computation of Income
Unit II
Heads of Income and Computation · Income from Salary, Income from House Property. Profits and Gains of Business or Profession, Capital Gains and Income from other sources · The Taxation Law (Amendment) Act. 2019
Unit III
Law and Procedure · P.A.N · Filing of Returns · Payment of Advance Tax · Deduction of Tax at Source (TDS) · Double Tax Relief · Law and Procedure for Assessment, Penalties, Prosecution, Appeals and Grievances · Authorities
Unit IV
GST ACT,2017 · Goods and Services Tax Act,2017: Introduction · Background · Basic Concepts · salient features of the Act · Kinds of GST · CGST, SGST &IGST · Administration officers under this Act · Levy and collection of tax · scope of supply · Tax liability on composite and mixed supplies · Input tax credit · Eligibility and conditions for taking input tax credit
Unit V
GST ACT, 2017:-Registration · persons liable for registration · persons not liable for registration · procedure for registration · returns · furnishing details of outward and inward supplies · furnishing of returns · payment of tax, interest, penalty and other amounts · tax deducted at source · collection of tax at source · Demand and Recovery · Advance Ruling · Definitions for Advance Ruling · Appeals and revision · Appeals to Appellate Authority · Powers of revisional authority · Constitution of Appellate Tribunal and benches thereof · offences and penalties