GLS UNIVERSITY
FACULTY OF COMMERCE
B.COM [HONOURS] - SEMESTER - III
TAXATION -2
CORE COURSE
1. Course Objective:
The Objective of the syllabus under this paper is to expose the students to the various important
provisions of Income Tax Act relating to computation of Income of individual. The aim is to
impart basic knowledge and equip students with application of basic principles and provisions
Income-tax Act, 1961, to equip students with the application of income tax under various heads
of income and to familiarize students with provisions of Goods & Service Tax and Income tax
law for practical implementation.
2. Course Duration:
The course will have sessions which are divided into Six Units. Each Unit consists of prescribed
sessions of 60 minutes each and carries a specified weightage of 15% to 20%. Total teaching will
be of 60 hours.
3. Course Content:
Unit Topics / Chapters Name No. of %
No. Sessions Weightage
I Profit and gains of business and profession
Basis of charge-included under profits & gains on business or
profession- Deduction allowed-Expenses expressly 12 20%
disallowed-Depreciation- Computation of business income
II Capital gains 9 15%
Basis of charge-Capital Asset-meaning & types-Long term -
Short term Capital Gains-Transfer-Transactions not treated as
transfer-Computation of Capital gains-Exemptions under
Capital gains-Set off & carry forward of Capital gain/loss
III Income from other sources 9 15%
Basis of charge-Incomes chargeable under the head IFOS-
Dividend Income-Interest on securities -Casual income-
Deductions allowed-Amounts not deductible-Computation
Assessment Procedure
Introduction-Return of Income- Meaning of Assessment-
Types of Assessments
IV Deduction and reliefs 9 15%
Various Deductions u/s 80 C- 80CCC-80CCD-80CCG-80D-
80DD-80DDB-80E-80EE-80G-80GG-80QQB-80RRB-
80TTA-80U-Relief
V Set-off and carry forward of losses
Intra head adjustments-Inter head adjustments-carry forward 12 20%
of losses
Computation of total income [only individuals]-Clubbing of
Income –Unexplained or Concealed Income
Preparation of Income tax Return ( manually & through
software)
VI GST Provisions 9 15%
Various Definitions –Input Tax Credit –Returns & Refunds
under GST – GST Officers – Appellate Authorities – Reverse
Charge
4. Teaching Methods:
The following pedagogical tools will be used to teach this course :
(1) Lectures & Discussions
(2) Assignments & Presentations
5. Evaluation :
The students will be evaluated on a continuous basis and broadly follow the scheme given
below:
1. Assignments / Presentations/ Quizzes / Class 50% (Internal Assessment)
Participation etc. and Internal Examination (Mid
Semester Exam)
2. External Examination (University Exam / End 50% (External Assessment)
Semester Exam)
6. Basic Text Books:
Sr. Author/s Name of the Publisher Edition
No. Book
T1 Dr. Vinod Singhania & Students' Guide Taxmann Latest
Dr. Monica Singhania to Income Tax publication
T2 Dr Girish Ahuja, Dr Ravi Practical Bharat Law Latest
Gupta approach to House
Income tax,
service tax, VAT
7. Reference Books:
Sr. Author/s Name of the Publisher Edition
No. Book
1 T.N.Manoharan Students Snow White Latest
Handbook on Publication
Income Tax Law
2 Mehrotra & Dr. Goyal Income Tax Law Sahitya Bhawan Latest
and Practice Publications
3 Dr Girish Ahuja & Dr Direct Tax Laws Bharat Law Latest
Ravi Gupta & Practice House
8. List of Journals / Periodicals / Magazines / Newspapers etc.:
The students will have to refer to past issues of the following journals in order to get relevant
topic/information pertaining to the subject.
Taxman’s Corporate Professionals Today
Management Accountant Journal
Chartered Secretary
Chartered Accountant Journal
Mint
Business Standard
The Economic Times
Financial Express
Finance India
Chartered Financial Analyst
CFA Reader
Business Today
Budget Bulletin
9. Session Plan:
Session No. Topics / Chapters
1 Meaning of Business & Profession – Incomes included under this head
2 Important points about computation of business income
3 Deduction expressly allowed
4 Generally allowed deductions
5 Expenses expressly disallowed
6 Depreciation Provisions Sec 32
7 Computation of Income from Business & Profession
8 Long sums for Business Profession Income
9 Long sums for Business Profession Income
10 Long sums for Business Profession Income
11 Long sums for Business Profession Income
12 Revision & Exam oriented questions related to Business & Profession
Income
13 Basis of Charge Sec 45 – Meaning of Capital Assets
14 Types of Capital Assets – Long term & Short Term – Transfer
15 Computation of Capital gain Sec 48 - Important Explanations – Full Value
of Sale Consideration – Transfer Expenses
16 Important Explanations -Cost of Acquisition -Cost of Improvement –
Indexation
17 Exemptions under section 54 & Section 10
18 Sums of Capital Gains
19 Sums of Capital Gains
20 Sums of Capital Gains
21 Revision & Exam oriented questions related to Capital Gains
22 Income chargeable under the head IFOS
23 Different type of incomes
24 Short questions of Grossing up
25 Short questions of income identification
26 Long questions of IFOS
27 Long questions of IFOS
28 Long questions of IFOS
29 Long questions of IFOS
30 MCQ for IFOS
31 Basic of deduction u/s 80
32 Deduction u/s 80 C
33 Deduction u/s 80 CCC, CCD, CCG
34 Deduction u/s 80 D, DD, DDB
35 Deduction u/s 80 E, EE
36 Deduction u/s 80 G, GG
37 Deduction u/s 80 QQB, TTA, U and relief
38 Long questions of deductions
39 MCQ of deductions
40 Set off of Losses - Intra head adjustments–Short sums
41 Set off of Losses -Inter head adjustments –Short sums
42 Carry forward of losses –Short sums
43 Carry forward of losses –Short sums
44 Combined sums of Set off & Carry forward of losses
45 Clubbing of Income Objective questions- Unexplained or Concealed
Income
46 Computation of total income [only individuals]
47 Sums for total income computation
48 Sums for total income computation
49 Sums for total income computation
50 Sums for total income computation
51 Revision & Exam oriented questions related to Total Income computation
52 GST – Various Definitions
53 GST – Various Definitions
54 Input Tax Credit –Explanation
55 Input Tax Credit –Explanation
56 Returns under GST
57 Refund under GST
58 GST Officers - Appellate Authorities
59 Reverse Charge
60 Revision & Exam oriented questions related to GST Provisions
10. Learning Out comes
The students will get understanding of various aspects of Taxation.
To make students aware about the practical application of tax provisions in real life
aspects
Acquaintance with GST Provisions which are recently made applicable.
