Law of Taxation

Unit 1 — Introduction

Concept of Tax, Nature and its characteristics, Direct and Indirect tax, Difference between tax and fee · tax and cess. Powers of taxation under the constitution, Fundamental Rights and powers of taxation, Scope of taxing power of the Union, Delegation of powers to levy tax to state legislatures and local bodies

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

Unit 2 — Income Tax Act, 1961

Definitions, Scope of total income, Person, Residential Status of an assessee, Charge of income tax, Dividend Income, Income deemed to accrue or arise in India

• 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 3 — Incomes which do not form part of the total income

Incomes not included in the total income of the assessee, Special provisions related to free trade zones and hundred percent export-oriented undertakings, Income from property held for charitable or religious purpose, Income of trusts or institutions from contributions, Income of political parties

• Tax Liability Exemption, Deduction, related to individual, Expenses & Income, Rebate, Deemed income and clubbing of income

Unit 4 — Heads of Income

Salary, Income from House Property, Profits and gains from business or profession, Capital Gains, Income from other sources

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

Unit 5 — Deemed Income and Tax Authorities

Income of other persons included in assessee’s total income, Income tax authorities

• 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 6 — Concept of Goods and Service Tax (GST)

The Constitution (122nd) Amendment Act, 2017 and the Central Goods and Service Tax Act, 2017. Dual GST Model, GST Council, Central GST, Application of GST on sales, transfer, purchase, barter, lease, or import of goods and/or services

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

Unit 7 — Goods and Service Tax

GST on Imports and Exports, Impact of GST on GDP of India and inflation, GST benefits to trade, e-commerce, industry and services sector, Goods and Services Tax Network Portal, Tax invoice, Dispute Settlement Mechanism under GST

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

Unit 8 — Integrated goods and service tax (IGST)

State goods and service tax (SGST) and Union Territory Goods and Services Tax (UTGST):Integrated goods and service tax (IGST) levied by Central Government, State goods and service law, Central government, powers to tax inter-state transactions, Securities Transaction Tax (STT) and exemption on sale and purchase of securities, Union Territory Goods and Services Tax law

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

Unit 9 — Customs Law

Background of Customs Act, 1962, Powers and functions of authorities under the Act, Collection of customs and duties, SEZ units