FM2102

Taxation: Direct and Indirect
Year / Semester: 
3rd Semester
Objective: 

The course aims to provide the student the understanding of the tax system and its application in corporate system.

Credits: 
6

Income Tax ,Basic concepts: (i) assessment and previous year; (ii) persons and assesses; (iii) income; (iv) capital and revenue receipts and expenditure; and (v) methods of accounting; Residential status and its effect on tax incidence, Income exempt from tax, Computation of income under the head salaries, Computation of income under the head house property, Computation of income under the head profits and gains from business and profession, Computation of income under the head capital gains, Computation of income under the head other sources; Basic concepts of central excise; Basic concepts of customs law; Basic concepts of central sales tax

Suggested Readings: 
  1. Law and Practice of Income Tax – Dinkar Pagare.
  2. Students Guide to Income Tax – Dr. Vinod Singhania.
  3. Indirect Taxes – Mr. V.S. Datey.
  4. Bare Acts of Income – Tax and Central Excise