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1538201811189531
1538201811189531
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Course Code: LAW442 CREDI
T
UNITS
Credit Units: 4 4 - - - 4
Course Objective: This course will provide each student
with an exposure to crucial aspects of taxing system of our country. Power to tax has been
described as the power to destroy. This idea is being floated often whenever the State introduces
a new tax. Is this true? Is it not necessary that in order to raise revenue and place the economy
on solid foundation, the taxing power should be conferred on the State? The power to tax shall
not go unregulated. In this context of a federal structure the distribution of the taxing powers
assumes added significance. Obviously, a study of the Constitutional framework on taxation
becomes important. Along with this, an analysis of the different laws enacted in exercise of
these powers with their safeguards and remedies sheds light on the mechanics of the taxation by
the Union and the States.
Prerequisites:
Basic knowledge of History concerning taxation and Development of Tax Laws in India
Course Contents/Syllabus:
Double taxation
Tax planning and Tax management
Definitions:-
Income, Previous Year, assessment Year, Person, Assesee and Total Income,
Income not included in the Total Income.
Residential status,
Clubbing of Income,
Rate of Income Tax,
Heads of Income, Salaries, Income from House Property, Income from Business or
Profession, Capital Gains, Income from Other sources,
Deductions under the Income Tax Act, 1961 ,
Income Tax Authorities: Power and Functions ,
Filing of returns and procedure for assessment,
Offences and Penal Sanctions Revenue
Module III Tax on Sales and Services
Meaning and importance of GST
Difference between VAT, Sales Tax and GST
Meaning and importance of Service Tax and its replacement with GST
List of Experiments: NA
11
Assessment/ Examination Scheme:
Weightage
(%)
10% 10% 5% 5% 70%
Iyengar, Sampath (2013) , Law of Income Tax new Delhi, Bharath Law
House.
Palkivala, N.A. (2013), The Law & Practice of Income Tax , Nagpur : Wadha
Publication.
Singh S.D. (1973), Principles of Law of Sales Tax, Eastern Book Company.