Principles of Taxation (Semester V)

Blue is imp & yellow- dont study at all

Module-I: Historical Perspective and Introduction
Unit-1: History of Taxation in brief
Unit-2: Meaning of Tax
a. Types of Tax
b. Difference between Direct Tax and Indirect Tax
c. Difference between Tax and Fee
d. Characteristics of Tax and Fee
Unit-3: Canons of Taxation and Characteristics of a Good Tax System
Unit-4: Taxation under the Indian Constitution

Module-II: Total Income and Residential Status
Unit-1: Important Definitions
a. Previous Year g. Agricultural Income
b. Assessment Year h. Business
c. Income Tax i. Capital Asset
d. Assessee j. Total Income
e. Person k. Company

Unit-2: Residential Status of Assessee
Unit-3: Scope of Total Income
Unit-4: Income Exempt from Tax
Unit-5: Concept of Advance Tax

Module-III: Income from Salaries
Unit-1: Meaning and Characteristics of Salary
Unit-2: Relationship of Employer and Employee
Unit-3: Income from Office not amounting to Employment
Unit-4: Incomes Forming Part of Salary
(a. Basic Salary b. Fees, Comission and Bonus c. Taxable Value of Allowances d. Taxable
Value of Perquisites e. Retirement Benefit)
Unit-5: Deductions from Gross Salary (Section 16)
Unit-6: Computation of Income from Salary

Module-IV: Income from House Property
Unit-1: Basis of Charge (Section 22)
Applicability of Section 22 (Buildings or lands appurtenant thereto, Ownership of
house property, Property used for own business or profession, Rental income of a
dealer in house property, House property in a foreign country)
Unit-2: Property Income Exempt from Tax
Unit-3: Computation of Income from Let Out House Property
(Determination of annual value, Gross annual value, Deductions under section 24)
Unit-4: Computation of Income from Self Occupied House Property
Unit-5: Deduction from Income from House Property


Module-V: Income from Profit and Gains of Business or Profession
Unit-1: Concept of Profit and Gains
Unit-2: scope of Section 28 (Basis of Charge)
Unit-3: Business, Profession and Vocation
Unit-4: Method of Accounting
Unit-5: Different Deductions under This Head
a. Schemes of Business Deductions
b. Specific Deductions under this Act
c. Deductions under sections 30 & 31
Unit-6: Depreciation
Unit-7: Specific Disallowance

Module-VI: Income Tax Authorities and their Powers with Special Reference to Search &
Seizure
Unit-1: Income Tax Authoreities
Unit-2: Appointment of Income Tax Authoreities
Unit-2: Power of Search and Seizure- Section 132
a. Fulfillment of statutory conditions
b. Satisfaction of primary test of reason to believe

Module-VII: Tax Avoidance, Tax Evasion and Tax Planning
Unit-1: Basic Concept of Tax Avoidance, Tax Evasion and Tax Planning
Unit-2: Reason of Tax Avoidance, Tax Evasion
Unit-3: Distinction between Tax Avoidance and Tax Evasion
Unit-4: Recommendation of Wanchoo Committee to Fight Tax Evasion
Unit-5: Effect of Tax Avoidance and Tax Evasion

Module-VIII: Indirect Tax
Unit-1: Service Tax
Unit-2: Excise Duty
Unit-3: Custom Duty
Unit-4: Sale Tax


Prescribed Books
1. Vinod K. Singhania and Kapil Singhania, Taxmans Direct Tax- Law and Practice
(Taxman Publication)
2. Kanga, Palkhiwala and Vyas, The Law and Practice of Income Tax (Lexis Nexis
Butterworths)
3. Girish Ahuja and Ravi Gupta, Direct Tax- Law and Practice (Bharat Publication)
4. Girish Ahuja and Ravi Gupta, Direct Taxes Ready Reckoner (Bharat Publication)

Statutes
1. The Income Tax Act, 1961with recent Amendment
2. Income Tax Mannuals