MBA II Year /II Semester

Subject: Taxation
Credits: 1
Taxation: Impact of various direct and indirect taxes on financial and operational
decisions.

TAXATION: DIRECT AND INDIRECT TAXES

Part-I Direct Taxation:
Unit 1: Basic Concepts of Income Tax (Definitions)- Assessment Year , Previous Year, total Income ,
Budget / Direct tax code ETC., Residential Status and its effect on tax incidence,( Examples )
Income Exempt from Tax ( 30 Items ) Income under the head “Profits and gains of business or
profession” and its computation Under IT (Including Practical Problems)
Unit 2: Set-off and Carry Forward of Losses( Theory ), Taxation of Companies – Minimum Alternate
Tax Computation( MAT ), Tax on income distributed profits of domestic companies /
dividend distribution, Tax Planning with reference to: (1 ) new business – Location & Nature
of a Business (2) Financial Management Decisions – Capital Structure & Dividend Decision
(Including Practical Problems) (3) Managerial decision for own , lease or borrow funds( Cases
Studies )
Unit 3:Tax Planning with reference to: (1) Employees’ remuneration and tax impact /tax
Management (2) concept of Planning with Mergers/ Demerger , Acquisitions , Amalgamation and
Take over ( theory ); Applicability of PAN , Usage , Requirement , Penalty , Concept of Advance Tax
for Corporate and Non Corporate , Penalty , Tax deduction at source , impact ant cases for
TDS, PENALTY .
Part-II Indirect Taxation:
Unit 4: (a)Central Excise – Nature and Importance of Excise Duty, Definitions – Goods, Excisable
Goods, Manufacturing , Classification, Types of Duty , Valuation , MRP , Penalty provisions ,
Records/Returns to be maintained , Hierarchy/ Administrative Set up; (b)Value Added Tax (
VAT ) DEFINITION , applicability , computation , example , Penalty Records, returns, ( c)
Custom Duty – Concept and Introduction, applicability , Different types of duty , Valuation ,
Duty Drawback , Penalty , Records
Unit 5: (d) Sales Tax and Central Sales Tax – Provisions , concept , interstate trade ,/Sales , Export ,
Penalty , forms , Records , (e) Service Tax – Overview ,Concept , Back ground , Applicability -
Negative list , Reverse Charge Mechanism Concept , Computation , Returns , Penalty ,
Administrative Set up Concept of GST , Its Applicability when introduced , impact on India
,Current Controversies , Global Scenario, Impact of Direct Taxation and Indirect Taxation in
India , Tax Management , Tax Planning , Tax Avoidance and Tax Evasion
Text Book / Reference Books:
 Datey, V.S. “ Indirect Taxes law and practice,” Taxmann Publication, New Delhi (DVS) (25 th
 Edition – July 2013-14)
 Singhania, V.K., & Singhania, M., “Corporate Tax Planning & Business Tax Procedures”,
 Taxmann Publications Pvt. Ltd., New Delhi (Latest Edition 2013)
 Singhania, V.K., & Singhania, M., “Students’ guide to Income Tax”, Taxmann Publications Pvt.
 Ltd., New Delhi (Latest Edition 2014-15)
 Ahuja girish & associates-Corporate Tax Planning and Management ( last Edition )
 Girish Ahuja and Ravi Gupta, Systematic Approach to Income tax, Bharat Law House,Ltd., New
Delhi.
 Bhagavathi Prasad, Direct Taxes – Law & Practice, New Age International (P) Ltd. New Delhi.
 Balachandran. V, & Thothadn. S, Taxation Law and Practice, PHI Learning (P) Ltd., New Delhi.
 V.K. Singhania and Kapil Singhania, Direct Tax Law and Practice, Taxman Allied Publishers (P)
Ltd.
 H.C. Mehrotra and S.P. Goyal, Income Tax Law and Accounts , Sahitya Bhawan.
  Datey V.S.: Indirect taxes – Laws and Practice, Tax Mann Publication (P) Ltd., New Delhi.2013
 V. Balachandran: Indirect Taxes, Sultan Chand & Sons, New Delhi.16 th edition 2013.
 Agarwal R.K.: Tax Planning For Companies.
 Choudhary, Jangid, Mathur, : Taxation
 Chaudhary, Jangid, Mathur, Jain : ‘Wealth Tax& Corporate Tax”
 Sighania V.K.- Direct Tax Laws.
 Lakhotia R.L.- Corporate Tax Planning.
 Mahrotra H.C. - Law and Practice of Income Tax.
 Palkhiwala N. A. - Law and Practice of Income Tax.

References Books:
1. Gaur and Narang, Income Tax law and practices, Kalyani Publishers
2. Bhagawati Prasad, Direct tax law and Practice.
3. D. P. Mittal, Direct Tax Code Bill 2010 Taxman.
4. Wealth Tax Act and Securities Transaction Tax with Rules, Taxman.
5. Kaushal Kumar Agrawal, Insightinto Income Tax, Atlatic Publication
6. V.K. singhania and Monica Singhania Students guide to Income Tax including Service Tax and
VAT Taxmann Publication 2013
7. V.S. Datey elements at Central Excise and Customs Law Taxmann Publication, 2013
8. B.C. Datta Laymen’s guide to GST Taxmann Publication 14th edition 2010
9. V.S. Datey Service Tax and VAT Taxmann Publication 13th edition 2009
10. V.s. Datey Indirect Tax Problems and Solutions Taxmann Publication 3 rd edition 2010..