Assam University b.com Hons Syllabus 502 5th sem

LAW AND PRACTICE OF TAXATION -I 7  BCMH A 502 (HONOURS PAPER) “  Objective: This course aims at developing and understanding of the la...

LAW AND PRACTICE OF TAXATION -I 7 

BCMH A 502 (HONOURS PAPER) “ 

Objective: This course aims at developing and understanding of the law of practised taxation. 

Full Marks - 50 

UNIT 1 

INCOME TAX ACT- HEADS OF INCOME. 10
1.1 Profits & gains of Business or Profession.
1.2 Capital Gains.
1.3 Income from other sources.

UNIT 2 

COMPUTATION OF TAX LIABILITY 10
2.1 Computation of Total Income and Tax Liability of an Individual, HUF and Firm.
2.2 Aggregation of Income, Set off and Carry Forward of Losses.
2.3 Deduction from Gross Total Income.

UNIT 3 

ASSESSMENT AND COLLECTION OF TAX 10
3.1 Assessment: Meaning and Procedure; Types of Assessment.
3.2 Advance Payment of Tax.
3.3 Tax Deducted at Source.

UNIT 4 

TAX ADMINISTRATION 10
4.1 Income Tax Authorities.
4.2 Appeals and penalties.
4.3 Prosecution, Settlement of cases.

UNIT 5 

WEALTH TAX ACT, 1957 10
5.1 Wealth Tax Act: Chargeability, Fea litres.
5.2 Persons Exempt from Wealth Tax.
5.3 Meaning of Assets under the Wealth-tax Act, Deceased Assets.
5.4 Meaning and computation of Net Wealth.
5.5 Valuation of Assets and Assets exempt from Wealth Tax.

suggested Readings: 

1. Mrinhinjoy Acharjee:. Direct and Indirect Taxation, Rabindra Library.
2. V. K. Singha & M. Singhania: Students Guide to Income Tax (Taxmann).
3. Girish Ahuja & Ravi Gupta: Direct Ta:es Law & Practice, Bharat Law House, New Delhi
4. Gaur & Narrang : “Income Tax - Law & Practice”, Kalyani Publishers.