NEW SYLLABUS OF SYBMS SEM IV – DIRECT TAXES


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NEW SYLLABUS OF SYBMS SEM IV – DIRECT TAXES

Learning Objectives:

  1. The objective of this course is to acquaint the students with the basics of Direct Tax structure in India
  2. This Paper enables the students to understand the tools and techniques of taxation for individual and business requirement.
Unit no.  Name of the Topic   No. of lectures
 Unit 1

Introduction To Income Tax 

Income Tax, Legal Framework, Types of Taxes, Cannons of Taxation, 

Important Definitions:

Assessment Year, Previous Year, Exceptions to the General Rule of Previous Year,

Assessor, Person, Income, Casual Income , Gross Total Income, Agricultural Income. 

Residential Status of an Individual- Resident, Not Ordinary Resident, Non- Resident. 

Determination of Residential Status, Incidence of Tax,

Problems on Scope of Total Income,

Exempted Incomes U/S 10 (Restricted To Individual Assessment). 

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 Unit 2 Income From Salary And House Property: 

Meaning, Basis of Charge, Advance Salary, Arrears of Salary

Definition: Salary Allowances, Fully Taxable Allowance, Partly Taxable Allowance,

Fully Exempted Allowances, Perquisites, Tax Free Perquisites, Taxable Perquisites,

Perquisites Taxable in all Cases, Perquisites Taxable Under Specified Cases,

Profits in Lieu of Salary, Provident Fund, Transferred Balance,

Deduction from Salary U/S16- Problems on Income From Salary (Excluding Retirement Benefits).

Income From House Property, Basis of Charge, Deemed Owners, Exempted Incomes From House Property,

Treatment of Composite Rent Annual Value, Determination Annual Value, Treatment Of Unrealized Rent,

Loss Due to Vacancy, Deductions from Annual Value,

Problems on Income From House Property (Excluding Preconstruction Interest).

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 Unit 3 Profits And Gains From Business And Profession

Meaning & Definitions of Business, Profession, Expenses Expressly

Allowed, Allowable Losses, Expenses Expressly Disallowed to Sole Trader only and

Problems on Profession Relating to Chartered Accountant, Advocate and Doctor.

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Unit 4

Computation of Total Income. 

Income from Capital Gains & Income from

Other Sources( Problems and Theory) and Deduction U/S80C, 80CC, 80D, 80E, 80U. 

Simple Problems on Computation of Total Income of an Individual,

Skill Development Techniques, Form No.49A ( PAN ) and 49B,

Filling of Income Tax Returns, List of Enclosures, Preparation of Form 16, 

Computation of Income Tax and the Slab Rates 

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Reference Books

  1. Singhnia VK & Singhania K, Direct Taxes – Laws and Practices, Taxmann
  2. Gupta G & Ahuja A, Fundamentals of Taxation, Bharat Publication
  3. Vinod Singhnia -Direct Taxes – Law and Practice
  4. Ravi Kishore- Direct Taxes
  5. J. P. Jakhotiya -Direct Taxes
  6. Ahuja – Direct Taxes

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Bhautik Kawa

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