Principles of Taxation Law (Principles of Income Tax)
Swami Ramanand Teerth Marathwada University · LL.B. Semester 6
Unit 1 — General Perspective [15 units]
1. History of Tax Laws in India · 2. Importance and Significance of Taxation · 3. Fundamental Principles · 4. Concept of Tax, Nature, Characteristics, Distinction between Tax and Fee, Tax and Cess · 5. Direct and Indirect Taxes · 6. Tax Evasion and Tax Avoidance · 7. Scope of Taxing Powers of Parliament, State Legislature and Local Bodies · 8. Constitutional Powers · 9. Distribution of Legislative Powers between the Union and States with particular reference to taxing powers · 10. Distribution of Taxing Powers · 11. Entry 97 and Entry 86 of List I (Union List), Entry 49 List II (State List)
Unit 2 — Introduction and Basic Aspects of the Income Tax Act 1961 [18 units]
1. Scope and Objectives of the Act · 2. Basic Definition - Agricultural Income, Asset, Assessee, Person, Divided Income, Previous Year, Assessment Year, Clubbing of Income, Deemed Income, Revenue Expenditure · 3. Residential Status of Persons · 4. Taxation of Natural and Legal Persons - Individual, Hindu Undivided Family, Companies and Firms, Association of Persons, Trust and Cooperative Societies
Unit 3 — Heads of Income and Computation of Income [20 units]
1. Income from Salaries · 2. Income from House Property · 3. Capital Gains · 4. Profits and Gains of Business or Profession · 5. Income from other Sources, Clubbing of Income · 6. Set off and carry forward of losses · 7. Deductions from gross total income · 8. Rebates and Reliefs · 9. Advance tax · 10. TDS · 11. Rate of Income Tax
- 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 4 — Powers and Functions of Various Authorities [20 units]
1. Authorities under the Income Tax Act (a) Director General of Income Tax b) Director of Income Tax-Additional Directors c) Joint Director d) Deputy Directors e) Assistant Directors f) Income Tax Officers g) Tax Recovery Officers h) Inspectors of Income Tax) · 2. Powers and Functions · 3. Offences and Penal Sanctions · 4. Settlement of Grievances · 5. Assessment and Appeal Procedures · 6. Types of assessment · 7. Appellate procedures · 8. Role of Income Tax Ombudsman, Income Tax Appellate Tribunals, High Court and Supreme Court · 9. Return of Income
Unit 5 — Goods and Services Tax (GST) [6 units]
1. Constitutional Perspective of GST, Basic Concepts, Introduction, definition, charging registration · 2. Authorities under GST, Appeals and Revision, Offences and Penalties · 3. Introduction to Central GST, Integrated GST, Maharashtra GST Act 2017.
Unit 6 — The Central Goods and Services Tax Act, 2017 and The Integrated Goods and Service Tax Act, 2017 [5 units]
Introduction