UNIVERSITY OF CALICUT

Transcription

1 File Ref.No.28305/GA - IV - E3/2013/CU UNIVERSITY OF CALICUT Abstract Faculty of Commerce and Management Studies- Syllabus for BCom Taxation Specialisation under CCSS-UG programme-modified- Approved- Orders issued. G & A - IV - E U.O.No /2015/Admn Dated, Calicut University.P.O, Read:-1) UO No.9325/2015/Admn dated ) Letter dated from the Principal, Fathima Arts and Science College, Nilambur.. 3) Letter dated from the Chairman, Board of Studies in Commerce(UG) 4) Letter dated from the Dean, Faculty of Commerce and Management Studies. 5) Orders of the Hon'ble Vice Chancellor in file of even no. dated ORDER As per paper read First above, UO was issued for implementing the Syllabus for BCom Taxation specialisation under CUCBCSS Programme. As per paper read Second above, the Principal, Fathima Arts and Science Colege Nilambur has informed that since the Syllabus for BCom Taxation specialistion was implemented under CUCBCSS Programme, the students of Vth semester BCom under CCSS-UG Programme, who completed the course of study under CCSS Programme cannot be registered for their examinations during this academic year As per paper read Third above, the matter has been clarified by the Chairman, Board of Studies in Commerce(UG) that there is an error occured in the Minutes of the meeting of the Board of Studies in Commerce(UG) held on that the Syllabus of BCom Taxation specialisation was approved under CCSS-UG Programme, but in the minutes it was recorded by mistake as BCom Taxation Specialisation under CUCBCSS Programme. The Chairman has therefore requested to take necessary steps to rectify the error occured in the miinutes. As paper read Fourth above, after having considered the clarification received from the Chairman, Board of Studies in Commerce(UG),the Dean, Faculty of Commerce and Management Studies, has recommended to approve the clarification received from the Chairman, in the minutes of the meeting of the Board of Studies in Commerce (UG) held on After having examined the matter in detail, sanction has been accorded by the Vice Chancellor for making necessary correction in the minutes of the meeting of the Board of Studies in Commerce(UG) held on and also for implementing the Syllabus of BCom Taxation

2 Specilisation under CCSS-UG programme. The UO read first above is stands modified to this extent. Orders are issued accordingly. ( Syllabus is appended) Lalitha K.P Assistant Registrar To The Principal, Fathima Arts and Science College, Nilambur. Copy to: Controller of Examinations/ JCE-1, JCE-3/EX/EG-1/EC-1/ PA to CE/PA to Registrar/ SF/FC System Administrator(with a request to upload the same in the University Website) Forwarded / By Order Section Officer

3 File Ref.No.19337/GA - IV - E - SO/2015/Admn UNIVERSITY OF CALICUT Abstract Faculty of Commerce and Management Studies- BCom Taxation Specialisation under CUCBCSS Programme- Syllabus approved- Orders issued G & A - IV - E U.O.No. 9325/2015/Admn Dated, Calicut University.P.O, Read:-1) Letter dated from the Principal, Fathima Arts and Science College, Nilambur. 2) Minutes of the meeting of the Board of Studies in Commerce(UG) held on ) Minutes of the meeting of the Faculty of Commerce and Management Studies held on ) Minutes of the meeting of the Academic Council held on ) Orders of the Vice Chancellor in file of even no. dated ORDER As per paper read First above, the Principal, Fathima Arts and Science College Nilambur has informed that sanction has been accorded to introduce Taxation as Specialisation to BCom course in that College and also requested to approve the Syllabus for BCom Taxation as specialisation under CUCBCSS Programme. As per paper read Second above, the Board of Studies in Commerce(UG) at its meeting held on vide item no.2, considered the request of Fathima Arts and Science College ane resolved to add Taxation Specialisation to the BCom (CUCBCSS) Programme and approved the syllabus. The Core Course under the specialisation are: 1) BC5B10-Principles of Taxation. 2)BC5B11-Indirect Taxes Law and Practice. 3) BC6B14-Income Tax Assessment. 4) BC6B15-Corporate Taxation and Tax Planning. As per paper read Third above, the Faculty of Commerce and Management Studies at its meeting held on has approved the minutes of the meeting of the Board of Studies in Commerce(UG) held on

4 As per paper read Fourth above, the Academic Council at its meeting held on vide item no.ii(g) has resolved to approve the minutes of the meeting of the faculty of Commerce and Management Studies alongwith the minutes of the meeting of the Boards of Studies coming under the Faculty. Sanction has therefore been accorded by the Vice Chancellor for implementing the resolution of the Academic Council for adding Taxation Specialisation to BCom(CUCBCSS) Programme and also for implemnting the Syllabus for the Core Course under the Specialisation as: 1) BC5B10-Principles of Taxation. 2)BC5B11-Indirect Taxes Law and Practice. 3) BC6B14-Income Tax Assessment. 4) BC6B15-Corporate Taxation and Tax Planning. Orders are issued accordingly. (Copy of the Syllabus appended) Usha K Deputy Registrar To The Principal, Fathima Arts and Science College, Nilambur. Copy to: Controller of examinations/ JCE-3/JCE-1/EX/EG-1sections/ PA to CE/PA to Registrar/ SF/FC. The System Administrator(with a request to upload the Syllabus in the University Website) Forwarded / By Order Section Officer

5 Significance and determinants _ Trends in Tax_GDp Ratio _ Features of good Taxation System - Tax equity: Benefit principle of Taxation _ Ability to pay principle of Taxation _ Courses in the Area of Specialisation : Taxation BC5 B1O PRINCILPES OF TAXATION lecture Hours per week : 5 Objectives: Credits : 4! To provide knowledge on basic principles of Taxation. ) To famiriarise the students wiih tt,e structure of rndian Taxation system and Constitutional provisions pertaining to Taxes. Module I Principres of Taxation : objectives of Taxaiion - Effects of Taxation on production, distribution and employment _ Cannons of Taxation _ Tax_GDp Ratio : Meaning _ Tax capacity and Tax effort _ Meaning of Taxabie capacity I AUsolute and Relative capacity - Factors determining Taxable capacity. Module ll (20 Hours) Classification of Taxes : Direct and lndirect Taxes _ Relative role of Direct and lncjirect Taxes in lndian economy - Advantages and disadvantages of Direct and rndirect Taxes - OECD crassification : progressive, pl0portionar and Regressive Taxes - Advarorem and specific taxes - An overview of Direct and lndirect Taxes in lndia _ Central and State Direct and tndirect Taxes - Distinction between Direct and rndirect raxes. (15 Hours) lncidence of faxation : lmpact and incidt Factors determining extent or tax shirtin, l;:r:,1:'l:t"; l:::;:rrl::r:tffi:t_ Taxation - Distribution of Tax burden _ Tax evasion in lndia _ Causes and consequences of tax evasion - Methods to curb tax evasion - Tax incentives - Rationare, benefits and ;:il1,:.;':::,il::;i:j_s of tax incentives.rax Hoiidays _ rnvestment A,owance _ Module tv (L5 Hours) lnternational Doubie Taxation : Ass Residence - Methods to alleviate inter

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7 Module V (15 Hours) constitutional Provisions Relating to Taxes : Rationare for constitutional arrangements - Distribution of Taxation powers 1.,*uun-r',e centre and states in the Constitution of lndia - Restriction on the Taxation powers of the States _ Sharing of Central Taxes _ Recommendations of the Fourteenth finance Commission. References : (10 Hours) 1' Musgrave. Richard and peggy Musgrave,,pubric Finance in Theory and practice, Tata McGraw Hill publishing Company Ltd, New Delhi. 2' peerzode' sayal Afzar, 'Economics of raxation" Atrantic publishers & Distributors pvt Ltd. 3. Tyagi 8.p.,,public Finance,, Jai prakash Nath and Company, Meerut. 4' Sury M.M., 'Fiscar policy Deveropment in rndia 1.947_2007,,rndian Tax Foundation in association with New Century publications, New Delhi. 5' Goode Richard' 'Government Finance in Deveroping Countries,, Tata McGraw Hilr Publishing Co. Ltd, New Delhi. 6. Lekhi R.K,,public Finance,, Kalyani publishers, New Delhi. 7' Basic rnternationartaxation principres:vor r&,, Roy Robatgi, Taxman. 8' singhania Vinod K, 'Direct raxes: Law and practice,, Taxmann pubrications (p) tto, New Delhi. z

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9 BC5 811 INDIRECT TAXES taw AND PRACTICE lecture Hours per week : 5 Credits : 4 Objectives : ) To enable the students to understand the importance of lndirect raxes in the lndian economy. ) To impart basic knowredge about Excise Duty, customs Duty, csr, VAT and service Tax and the practicar assessment of tax burden. Module I lntroduction to rndirect raxes: rndirect Taxes - Features - Types of lndirect raxes _ Merits and demerits - constitutionar provisions rerating to rndirect raxes. (05 Hours) centrar Excise : centrar Excise Act 1g44 And Rerated Rures - Nature of Excise Duty _ Types of Excise Duties - lmportant terms and definitions - Basis of duty payable - Basis of Assessable Value - lnclusions in and exclusions from Transaction Value - Valuation rules to determine Assessable value - payment of Excise Duty _ Registration _ CENVAT : Meaning-sarientfeatures-rnput goodsandcapitargoods_rnputservice_exemption from duty - Excise concessions to small scale industries - Assessment procedures in Central Excise. Module ill (20 Hours) customs Duty: customs Act, Meaning of Customs Duty - Types of Customs Duties - Exemptions from customs Duties - Classification and valuation of goods - customs Authorities - provisions governing import and export of goods _ speciar provisions regarding baggage, courier and post. Module lv (L5 Hours) Kerala Value Added Tax And Central sales Tax : Basic concept of VAT - cascading effect of tax - Advantages of VAT - Disadvantages and pitfalls in VAT _ Kerala Value Added Tax' lmportant terms and definitions - lncidence and levy of tax - purchase Tax - Presumptive Tax - lnput rax credit - Refund of rnput rax - negistration - submission of Returns - Assessment of tax - Payment and recovery of tax - Relevant statutory Forms - e-filing procedures. central sales Tax : lmportant terms and definitions - lnter state sales - Tax on inter state sales - Registration - Determination of Turnover - Levy and collection of tax - Goods of special importance and rate of tax. (20 Hours)

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11 3' chandrasekhar, p.s, Essays on central sares TaxAct, sai pubrications, Hyderabad. 5' Barachandran V, tndirect raxation, surthan Chand sons, New Derhl. Module V :il::::;#,i5",'.t:itji': ffi:l:11,;i,;ff,:, service rax - Mean ng or Exemptions from service Tax - Rate of service Tax - orrur*l;ffi:"jil?:1;t; of Advertising agency services, Banking and Financial Ser Services, Tele-communication a^,,.,^^^ o "rrv t 'rrdrlclst services, General lnsurance services. rmunication services' Tour operating Services, rr and soft ware (15 Hours) ( Theory & simpre probrems may be in the ratio of 70% and 3,%respectivery References : L' Datey V's' lndirect raxes - Law and Practice, Taxman pubrications pvt Ltd, New Derhi. 2' Vinod K Singhania, service Tax, Taxman pubrications pvt Ltd, New Derhi. ) 4. Gaur & Narang, Centralsales Tax Act, Kalyani publishers. 6. Bare Acts of lndirect Taxes. -+-

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13 BC5 814 INCOM; TAX ASSESSMENT Lecture Hours per week : 5 Objectives : Credits : 4 ) To provide practicar skiils on the computation,,.ijvrol,vr I Taxabre I crxdote in tncome and Tax liability of vanous assesses. P To familiarise the students with the procedure for filing of lncome Tax Returns. Module I Computation of Taxabre rncome: crubbing of incomes and aggregation of incomes _ set off and carry forward of losses _ tn.or", :iih :X.* -, *,.,, " " s rro m c,o,, ro,lr',::i J: f#;i:ff I J,,"1 lffi ;:1,: Module il (15 Hours) Assessment of Various Entities : (l) Assessment of lndividuars : Treatment of income received from different institutions - Computation of Taxabre rncome and Tax riabirity _ Apprication of Arternate Minimum Tax (AMT) on lndividuars _Tax pranning for rndividuars with respect to a, 5 Heads of income, deductions, exemptions, rebate, rerief, concessions and incentives. (ll) Assessment of Hindu Undivided Family : Schools of Hindu Law _ Residential status of HUF - rncome not to be treated as Famiry income _ computation of Total lncome of HUF and Tax liability. Module ill Assessment of Firms and Association of persons: (25 Hours) (l) Assessment of Firms - computation of Book profit - Remuneration partners _ to Computation of Total lncome and Tax liability. (ll) Assessment of AoP/Bol - Computation of Total lncome of AoplBot _ Tax liability of AOp/BOt _ Treatment of share of income from AOp/BOt. (15 Hours) Module lv Assessment of co-operative societies and Trusts : Co-operative societies - Meanlng - Deductions u/s g0 p - other deductions - computation of Taxabre rncome & Tax liabirity. Trusts : Definition - creation - Registration _.Types of Trusts _ Tax exemptions - Accumuration of income - rncome not exempted - Assessment of Trust. '.r- (10Hours)

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15 Module V Procedure For Assessment : Filing of difflrent types of Returns of income - Types of assessment - Deduction and collection of Tax at source - Advance payment of Tax - Recovery of Tax - lncome Tax Authorities - Appeals and Revision - Penalties & Prosecutions. (10 Hours) (Theory and Problem may be in the ratio of 40% and 60% respectively) References : 1. Mehrotra H.C, Goyal S.P, Direct Taxes, Sahitya Bhavan, New Delhi. 2. Bhagavathi Prasad, Direct Taxes Law & Practice, Wishwa Prakashan, New Delhi. 3. Vinod K Singania & Kapil Singania, Taxmans' Direct Tax Laws & Practice, Taxman Publications (P) Ltd. 4. Gaur V.P, Narang, lncome Tax Law & Practice, Kalyani Publishers. 5, Lal B.B, Direct Taxes, Konark Publishing House, New Delhi. -6-

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17 BC6 815 CORPORATE TAXATION AND TAX PLANNING Lecture Hours per week : 5 Objectives:! To familiarise the students with the latest provisions of the lndian Corporate Tax Laws and to rearn about the computation of Taxabre rncome of companies. ) To acquaint with the concept of Tax pranning and Tax Management under lncome Tax law. Module I Assessment of companies : Definition of company - Types of companies _ Residential status and incidence of tax - carry forward and set off of losses in the case of companies - Deduction available to Corporate Assessee - computation of corporate Tax. ( 15 Hours) computation of Taxable lncome & Tax.Liability : special provisions applicable to assessment of Total lncome of Companies - Computation of Total lncome of Companies - Determination of amount of Corporate Tax liability - Minimum Alternative Tax (MAT) -Tax on distributed profits of domestic Companies-Tax on amount distributed to unit holders - Security Transaction Tax. Module lll ( 25 Hours) lntroduction to Tax Planning; Meaning of Tax Planning and Management, Tax evasion and Tax avoidance - Nature and scope of Tax pranning and Management in the corporate sector - Justification of Corporate Tax planning and Management. Module lv ( 10 Hours) Tax Planning For Specific Management Decisions : Tax Planning with Capital structure decisions - Dividend Policy - Bonus shares -lnvestments and Capital Gains - owning or Leasing of an asset - Make or buy, repair /replace, export or domestic sales, shut down or continue. Module V ( 15 Hours) Tax Planning For Setting up of a New Business: lmplication of Tax Concessions and lncentives for Corporate decision in respect of setting up of a new business, location, nature and form of business - Tax Planning relating to Special Economic Zone (SEZ), -7-

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19 Export Processing Zones, lnfrastructure Sector and backward areas - Tax lncentives for exports. (10 Hours) (Theory and Problem may be in the ratio of 50% and s0% respectively) References : 1. Mehrotra H.C, GoyalS.p,'DirectTaxes,, Sahitya Bhavan, New Delhi. 2. Bhagavathi Prasad, 'Direct Taxes Laws & Practice',. Wishwa Prakashan, New Delhi. 3. Vinod K Singhania, Monica Singhania, 'Corporate Tax Planning And Business Tax Procedure', Taxman publications pvt Ltd, New Delhi. 4. 'Corporate Tax Planning And Management', Lakbotia Vision Publishers. 5. Aggarwal P. K, 'Tax Planning For Companies', Hind Law Publishers, New Delhi. 5. Lal B.B & N. Vashisht, 'DirectTaxes - lncome Tax & Tax Planning', Konark Publishing House, New Delhi, 7. Girish Ahuja, &. Ravi Gupta, 'Direct Tax Law And Practice And Tax Planning',Bharat Law House Pvt Ltd, New Delhi. 8. Manmohan, 'Direct Taxes With Tax Planning'. ^&-

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