PAPER 2.7. PRINCIPLES OF TAXATION LAW (QUESTION-ANSWER SERIES)

PAPER 2.7. PRINCIPLES OF TAXATION LAW

UNIT - I Income Tax Act, 1961 - I: Objectives; Definition, Concept, Key Features of the Act; Importance and Significance of Taxation; Constitutional Provisions Relating to Taxation ( 265-289); Types of Tax Laws: Direct and Indirect Taxes; Residential Status of Persons; Heads of Income and Computation of Income: Income from Salaries; House Property: Self Occupied, Deductions and Computation of Income; Income from Let Out Exemption of property income from tax; Capital Gains; Profits and gains of Business or Profession; Income from other Sources Clubbing of Income; Set off and carry forward of losses; Rebates and Reliefs; Taxation of Natural and Legal Persons: An Overview: Individuals, Hindu Undivided Family, Companies and Firms, Association of Persons, Trust and Cooperative Societies, Charitable and Religious Institutions

UNIT - II Income Tax Act, 1961 - II: Assessment and Appeal Procedures: Return of Income; Types of Assessment; Appellate Procedures; Authorities Under The Income Tax Act: Director General of Income Tax, Director of Income Tax-Additional Directors, Joint Director, Deputy Directors, Assistant Directors, Income Tax Officers, Tax Recovery Officers, Inspectors of Income Tax; Powers and Functions of Various Authorities:  Tax Avoidance, Tax Evasion and Tax Planning - Meaning and Distinction Inspections, Search, Seizure, Penalties for Tax Evasion and Tax Avoidance

UNIT - III The Central Goods And Services Tax Act, 2017 - I: Need, Importance, Objectives; Definition, Concept, Key Features for Enactment of the Act; Administration; Levy and Collection of Tax; Time and Value of Supply; Input Tax Credit; Registration; Tax Invoice, Credit and Debit Notes; Judicial Responses

UNIT - IV The Central Goods And Services Tax Act, 2017 - II: Accounts And Records; Returns; Payment of Tax; Refunds; Assessment; Audit; Inspection, Search, Seizure and Arrest; Demands and Recovery; Liability To Pay in Certain Cases; Advance Ruling; Appeals and Revision; Offences and Penalties; Transitional Provisions; Miscellaneous; Judicial Responses

UNIT - V The Integrated Goods And Service Tax Act, 2017: Need, Importance, Objectives; Definition, Concept, Key Features for Enactment of the Act; Judicial Responses; Administration; Levy and Collection of Tax; Determination of Nature of Supply; Place of Supply of Goods or Services or Both; Refund of Integrated Tax to International Tourist; Zero Rated Supply; Apportionment of Tax and Settlement of Funds; Miscellaneous