Direct And Indirect Tax Laws

Syllabus

BBA 622-18

Direct and Indirect Tax Laws

UNIT-I

Concept of Tax- Nature and Characteristics of Different Types of Taxes- Direct and Indirect Taxes. Direct Tax Laws- Income Tax Act 1961: Introduction and Brief History of Income Tax in India, Scope of the Act, Meaning and Concept of Income, Assessment Year, Previous Year, Assesse, Person, Agriculture Income, Basis of Charge, Determination of Residential Status.

UNIT-II

Heads of Income- Computation of Income Under the Head of Salaries, House Property, Capital Gains, Profits & Gains from Business and Profession and Other Sources. Computation of Gross Total Income and Deductions from Gross Total Income.

UNIT-III

Clubbing of Income, Set off and Carry Forward of Losses, Procedure of Assessment, Advance Payment of Tax and Deduction of Tax at Source. Practical Work: Preparation of Form 16 and 16A, Preparation and Filling of ITR Forms, Preparation of PAN Request Forms.

UNIT-IV

GST Act 2017: Overview of Goods and Services Tax, Implementation of GST, Reasons for GST Introduction, Liability of Tax Payer, Structure of GST (SGST, CGST, UTGST & IGST); GST Council, Levy and Collection of CGST/ SGST.

Registration: Introduction, Registration Procedure, Special Persons, Amendments /Cancellation.

GST Portal: Introduction, GST Eco-system, GST Suvidha Provider (GSP), Uploading Invoices.