INTERNATIONAL COLLEGE FOR GIRLS, (AUTONOMOUS)

Transcription

1 INTERNATIONAL COLLEGE FOR GIRLS, (AUTONOMOUS) SFS, GURUKUL MARG, MANSAROVAR, JAIPUR CAREER ORIENTED & SKILL DEVELOPMENT COURSE TAX PROCEDURE & TAX PLANNING CERTIFACTE COURSE APRIL 2010 DIPLOMA COURSE APRIL 2011 ADVANCED DIPLOMA APRIL 2012 Syllabus applicable for the students seeking admission to the Career Oriented & Skill Development Course in the academic year

2 INTERNATIONAL COLLEGE FOR GIRLS, JAIPUR(AUTONOMOUS) Tax Procedure& Tax Planning This add-on course can be pursued by a student along with UG or PG programe. It includes three levels, Certificate, Diploma & Advanced Diploma. The certificate holder shall be eligible for admission to the Diploma and the Diploma holder shall be eligible for admission to the Advanced Diploma course. Candidates who have passed 10+2 examination from a recognized board shall be considered eligible for admission to the Certificate Course. Nomenclature of the Course Certificate in Tax Procedure& Tax Planning Duration 1 academic year. Eligibility Criteria 10+2 of any recognized Board. Diploma in Tax Procedure& Tax Planning 1 academic year Certificate in Tax Procedure& Tax Planning Advanced Diploma in Tax Procedure& Tax Planning 1 academic year Diploma in Tax Procedure& Tax Planning Teaching Schedule This add-on course shall be conducted in the college time schedule. Apart from the regular faculty, senior professionals and experts from the respective fields on the contemporary and technical aspects of the subjects under study will also be associated.

3 Credit System CERTIFICATE : 30 Credits DIPLOMA : 60 credits ADVANCED DIPLOMA : 90 credits Each course will be of 30 credits. Each credit will have 15 hours of work load, out of which 10 credits shall be assigned to field /subject work training. The proof of this shall be submitted during final examination in the form of work experience certificate/project duly signed by the concerned authority. Pedagogical Strategies Apart from class room lectures, activities and assignments, students shall be given opportunities to present and participate in seminars and symposia. Annual Scheme of Examination 1. The number of papers and the minimum passing and maximum marks for each paper shall be shown in the syllabus. Each theory paper will be of three hours duration and the duration of practical examination shall be as prescribed in the syllabus. 2. There shall be 3 sections in the question paper. Section 1 shall consist of objective type questions, section 2 shall consist of short answers type questions and section 3 shall consist of long essay type questions. 3. Result categorization: First with credit - 75% and above, First division - 60% and above but less than 75%, Second division 48% and above but less than 60%, Pass 40% and above but less than 48%% in the aggregate of all papers. 4. To pass the examination, a candidate is required to obtain at least 40% marks in each paper (theory & practical separately as prescribed in the syllabus) Candidate is require to pass separately continuous assessment and annual exam in each paper 5. Candidate needs to clear all papers in order to be eligible for promotion to the next level of courses. A candidate securing less than 40% marks in maximum of one paper shall be allowed to take the exam not later than the successive academic year only. 6. Continuous assessment will constitute 30% marks of the maximum marks for each paper (theory and practical separately) based on tests, home assignment,quiz and regularity in attendance 7. A candidate passing the Certificate course shall only be admitted to the Diploma course. 8. A candidate passing the Diploma course shall only be admitted to the Advanced Diploma course. 9. A candidate with B.Com. / BBA shall be eligible for direct admission to Diploma and M.Com. / MBA shall be eligible for direct admission to Advanced Diploma course. 10. The Certificate/ Diploma/ Advanced Diploma shall be awarded by the College. 11. Every student to give a report on his/her one month practical training

4 CERTIFICATE COURSE TAX PROCEDURE & TAX PLANNING Total Credits : 30 Total Hours : 30 x 15 = 450 Hours (Credits Assigned for Field Work/Project Work/Training: 12 = 12 x15 = 0Hrs.) (Credits Assigned for Theory & Practical: = x 15= 270 Hrs.) Paper Code TPT- 131 TPT- 132 TPT- 133 TPT- 134 TPT- 135 Name of Paper Theory/ Credit HOURS MM Exam Practical Duration Direct Tax laws-i Theory Hrs Computer Theory Hrs Fundamentals Practicals Practical Hrs Project/Seminar Internship (1 month) * Evaluation of the internship will be based on- Report writing and submission- 4 Credits Presentation- Viva-Voce- 3 Credits 3 Credits

5 Direct Tax Laws-1 TPT-131 Objective-To gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of an individual under various heads of Income. Unit Content No of Lectures I 10 Definitions- Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income, Determination of Residential Status of Individual, Hindu Undivided Family, Firm and Companies and Scope of Total Income II Computation of Taxable Income Under the Head Salaries Computation of Taxable Income under the Head House Property 25 III IV V Depreciation and Other Rebates Computation of Taxable Income under the head Business and Profession Computation of taxable income under the head Capital Gain and Other Sources Deemed Income, Set Off and Carry Forward of Losses Deductions from Gross Total Income, Tax Rates, Rebates and Reliefs, Assessment of Individual Suggested Reading 1. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi) 2. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, New Delhi 3. Income Tax- Agarwal, Jain, Sharma,Shah, Mangal ( Ramesh Book Depot) 4. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd 5. Law and Practice of IncomeTax, Mr Dinkar Pagare, (M/S Sultan Chand& Sons) 6. Income Tax for Students-Sharad Bhargav, (Mashbara Industries) 7. Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan) Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

6 COMPUTER FUNDAMENTALS TPT-132 Objective- To develop a conceptual understanding of computer fundamentals and their application in business Unit Content No of Lectures I Computer- Introduction, Uses and Advantages of Computer in modern society. Types of computers: Micro, Mini, Main frame and Super Computer Concepts of Files and Directories Hardware, CPU Input Output Devices: Keyboard (The Standard Keyboard layout), Mouse, Printers (Dot-matrix, Inkjet, LaserJet), Microphone Speakers, Modem, Scanner, Digital Cameras II III IV V Storage Devices: Diskette drives (Types, Density, Formatting Boot Records, FAT, Folder, Directory), Hard Disk Drive, CD Rom Drive (CD Rom Speeds), CD-R Drive, DVD Rom Drive, Tape Drive) Introduction to Binary, Octal, Hexadecimal Number System Binary Code System: Word Bits and Bytes Computer Codes: EBCDIC & ASCII Software: Introduction to Programming Languages, System Software (Operating System & Utilities) Brief overview of operating system Booting, process, BIOS Introduction of DOS Application Software (packages, customized software) Communication & Connectivity: Data Communication systems, Data transmission (Serial, Parallel, Bandwidth, Protocols), E- mail, FAX, Voice and Video messaging, Video conferencing, Online Services, User connection (Types), Networking of computers (Node, Client, Server, LAN, WAN), Using the network, The Internet and the Web. Concepts of Data and Information, Role of Information in an organization Data analysis Tools: Spreadsheet Programme Entering data, labels, values, dates, formulas, cell reference, formats, functions, templates, charts and maps, analyzing data in a spreadsheet. Suggested Readings: 1. Introduction to computer Peter Norton. Tata McGraw Hill, New Delhi 2. Computer fundamentals- P.K.Sinha, B.P.B.Publication Delhi 3. Fundamental of computer V. Rajaraman 4. Computer Application & Management, Jain Bhargava & Arora, Ramesh Book Depot.,Jaipur

7 Practical TPT-133 Project file which contains solution of practical problems related to Income from Salary Income from House Property Income from Business & Profession Income from Capital Gain Income from Other Sources Assessment of Total Income of Individual& Tax Liability Filling of income tax return for individual E Filling of Income Tax Return Computation of total Income & tax with the help of software Advanced Filing System Dealing with Various Department Project/Seminar TPT-134 Seminar on various issues of Direct Taxes INTERNSHIP TPT-135 Summer training under professionals/companies At the end students will undergo training of 150 hrs under a professional like C.A.,C.S, Advocates or in companies. This will help them in understanding the existing working environment and acquire an in-depth knowledge of the taxation matters. The student shall prepare a report on the work done. The student will be required to obtain a certificate regarding her performance, alltendance from the concerned organization signed by the project guide, which will be attach with the internship report

8 DIPLOMA COURSE IN TAX PROCEDURE & TAX PLANNING Total Credits : 30 Total Hours : 30 x 15 = 450 Hours (Credits Assigned for Field Work/Project Work/Training: 12= 12 x15 = 0Hrs.) (Credits Assigned for Theory & Practical: = x 15= 270 Hrs.) Paper Code Name of Paper Theory/ Practical Credit HOURS MM Exam Duration TPT-231 Direct Tax Laws-II Theory Hrs TPT-232 Indirect Tax laws-i Theory Hrs TPT-233 Practicals Practical Hrs TPT-234 Project/Seminar TPT-235 Internship (1 month- 90 hours) * Evaluation of the internship will be based on- Report writing and submission- 4 Credits Presentation- Viva-Voce- 3 Credits 3 Credits

9 Direct Tax Laws-II TPT-231 Objective-To gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of an HUF, Firm, AOP& Companies, Co-Operative Societies under various heads of Income & to gain knowledge of wealth tax act & rules Unit Content No of Lectures I Assessment of Hindu Undivided Family and computation of their tax liability, Assessment of Firm and computation of their tax liability, Assessment of Association of Person and computation of their tax liability II III IV V Assessment of Companies and computation of their tax liability Assessment of Cooperative Societies, Trust Representative Assessee and Non Residents Procedure of Assessment- Filling of Return as Statutory Obligation, Timing of Filing of Return of Income, Defective or Incomplete Return and their rectification Belated Return of Income, Permanent Account Number (PAN), Signature on Return, Types of Assessment Deduction of Tax at source, Advance Payment of Tax, Recovery of Tax, Refunds and Prosecutions, Appeals and Revision. E- filling of return Study of Wealth Tax Act and Rules: Definitions, charge of wealth tax and assets subject to such charge, exemptions, valuation of assets, computation of net wealth and wealth tax. Procedure of assessment, liability to assessment in special cases, appeals, revisions and references, payment of recovery of wealth tax, refunds. Suggested Readings 1. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi) 2. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta( Bharat Law House Pvt Ltd, 3. Income Tax- Agarwal, Jain, Sharma,Shah, Mangal ( Ramesh Book Depot) 4. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd 5. Law and Practice of IncomeTax, Mr Dinkar Pagare, (M/S Sultan Chand& Sons) 6. Income Tax for Students-Sharad Bhargav, (Mashbara Industries) 7. Income Tax; Law and Accounts:- H.C Mehrotra(Sahitya Bhawan) Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

10 Indirect Tax Laws-I TPT-232 Objective- The objective of this course is to gain knowledge of the provisions of Service Tax and Value Added Tax as mentioned below. Unit Content No of Lectures I II Service Tax Concepts and general principles Charge of service tax and taxable services Valuation of Taxable Services Payment of Service Tax and Filling of Returns Value Added Tax Backdrop for State-Level VAT in India Taxonomy of VAT Input Tax Credit, Tax Invoices Small Dealers and Composition Scheme Vat Procedures III IV V Vat in Relation to Incentive Schemes, Work Contract, Lease Transactions and Hire Purchase Transactions Rajasthan Value Added Tax Act, Introduction- Definitions, Extent and Commencement. Incidence and Levy of Tax. Payment of Tax, Filling of Returns and Assesment Tax Liability, Recovery and Refund, Interest, Penalties, Composition and Prosecution. Practical Records to be maintained Salient feature of VAT Audit. Registration of all types of dealers Suggested Readings 1. Indirect Tax Yogendra Bangar, Vandana Bangar(Aadhya Prakashan Pvt Ltd) 2. Indirect Taxes-Ajay Jain (AVJ Institute) 3. Indirect Taxes Law and Practice, V.S Datey,( Taxmann Publications, New Delhi) 4. Indirect Taxes Made Easy, Prof N.S Govindan, C. Sitaraman& Co Pvt Ltd 5. The Law of Central Excise(Vol I&II), V.J Taraporevala and S.N Parikh, Orient Law House, New Delhi Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

11 Practical TPT-233 Project file which contains solution of practical problems related to Assesment of HUF Assesment of Firm Assesment of Companies Assesment of Co-Operative Societies Filling of Income Tax Return for HUF, Firm, Companies, Co-Operative Societies Practical application for various Numbers like PAN & TDS under Income Tax Act Computation of Total Income & Tax with the help of software Project/Seminar TPT-234 Seminar on various issues of Inirect Taxes INTERNSHIP TPT-235 Summer training under professionals/companies At the end students will undergo training of 150 hrs under a professional like C.A.,C.S, Advocates or in companies. This will help them in understanding the existing working environment and acquire an in-depth knowledge of the taxation matters. The student shall prepare a report on the work done. The student will be required to obtain a certificate regarding her performance, alltendance from the concerned organization signed by the project guide, which will be attach with the internship report

12 ADVANCED DIPLOMA IN TAX PROCEDURE&TAX PLANNING Total Credits : 30 Total Hours : 30 x 15 = 450 Hours (Credits Assigned for Field Work/Project Work/Training: 12 = 12 x15 = 150Hrs.) (Credits Assigned for Theory & Practical: = x 15= 270 Hrs.) Paper Code Name of Paper Theory/ Practical Credit HOURS MM Exam Duration TPT-331 Indirect Tax laws-ii Theory Hrs TPT-332 Tax Planning Theory Hrs TPT-333 Practicals Practical Hrs TPT-334 Project/Seminar TPT-335 Internship (1 month- 90 hours) * Evaluation of the internship will be based on- Report writing and submission- 4 Credits Presentation- Viva-Voce- 3 Credits 3 Credits

13 Indirect Tax Laws-II TPT-331 Objective-The objective of this course is to gain knowledge of the provisions of Central Excise and Customs as mentioned below. Unit Content No of Lectures I Central Excise Nature and Scope of Central Excise, Important terms and Definitions, Basic Concepts, Classification of Goods, 20 II III Valuation of Goods Cenvat Credit on Inputs and Capital Goods, General Procedures under Central Excise Export Procedure, Warehousing and SSI Customs Basic Concepts, Role of Customs in International Trade Classification of Goods, Valuation of Goods Provisions relating to imported or exported goods IV V Warehousing, Duty drawback Baggage, Postal Articles, Stores and Coastal Goods, Search, Seizure, Arrest and Miscellaneous Provisions General Topics- (Excise and Customs) Recovery and Refunds, Appeal and Refunds, Advance Rulings and Settlement Commission, Offences and Prosecutions Various records & Audit Procedure Suggested Reading 1. Indirect Tax Yogendra Bangar, Vandana Bangar(Aadhya Prakashan Pvt Ltd Jaipur). 2. Indirect Taxes-Ajay Jain (Published byavj Institute and Distributed by Pooja Law House Delhi) 3. Indirect Taxes Law and Practice, V.S Datey,( Taxmann Publications, New Delhi) 4. Indirect Taxes Made Easy, Prof N.S Govindan, (C. Sitaraman& Co Pvt Ltd) 5. The Law of Central Excise (Vol I&II), V.J Taraporevala and S.N Parikh, (Orient Law House, New Delhi) 6. Customs Manual- R.K Jain(Centax Publications P. Ltd) 7. Guide to Central Excise and Modvat Procedures, Arvind P. Datar(Wadhwa& Co Nagpur) Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless Tax Planning

14 TPT-332 Objective-The objective of this course is to familiarize the students with latest provisions of Indian Tax Laws to derive maximum possible tax benefits admissible under the law. Credit-3 Unit Content No of Lectures I Meaning of tax planning, tax avoidance and evasion of tax Object of tax planning, concept of maximization of after-tax income, concept of diversion of income and application of income. II III Recognized methods of tax planning: Legal diversion of income, implications of the provisions of aggregation of income, getting maximum advantage of tax incentive, tax holidays, allowable deductions and reliefs, set off and carry forward of losses. Specific areas of tax planning: Tax Planning in respect of capital gains, investment income and structure of salaries and perquisites Planning of income tax of an individual through specific savings and investments and effect of such planning on after tax income IV V Tax Planning through Hindu Undivided Family and creation of trust. Tax implications in planning the legal status of business unit, partnership firm, private limited company or public limited company Tax considerations in specific decisions: (i) To own an asset or take on lease (ii) To issue share or debentures (iii) To employ or make partner (iv) Export v/s Domestic sales (v) Repair of Replace Problems arising from different concepts of income-legal, economic and accounting Suggested Reading 1. How to save income tax by tax planning-r.n Lakhotia(Vision Books New Delhi) 2. Direct Tax Planning and Management- Vinod. K. Singhania(Taxmann s 3. Tax Planning- N. K Sharma(Ramesh Book Depot) 4. Tax Management- R.N Lakhotia 5. Tax Planning via Status in Direct tax matters-bhargava S.R,& Jain N.L 6. Corporate Tax Planning-E.A Shrivastva 7. Law of Income Tax- A.C Sampath, Iyenger(Bharat Publishing House Allahabad) Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless Practical

15 TPT-333 Project file which contains solution of practical problems related to Tax considerations in specific decisions: (i) To own an asset or take on lease (ii) To issue share or debentures (iii) To employ or make partner (iv) Export v/s Domestic sales (v) Repair of Replace Preparation of Invoices Maintenance of Registers for Cenvat Credit Filling of various Returns Information relating to Excise, Service Tax, including the preparation of returns etc with the use of software Project/Seminar TPT-334 Seminar on various issues of Tax Planning INTERNSHIP TPT-335 Summer training under professionals/companies At the end students will undergo training of 150 hrs under a professional like C.A.,C.S, Advocates or in companies. This will help them in understanding the existing working environment and acquire an in-depth knowledge of the taxation matters. \The student shall prepare a report on the work done. The student will be required to obtain a certificate regarding her performance, alltendance from the concerned organization signed by the project guide, which will be attach with the internship report