Taxation | MBA 3rd Sem | JNTUK

                                                                                            Syllabus

EF-305 

Unit 1

General Principles of Tax – Direct and Indirect Taxes – State Power to Levy Tax – Tax System – Provisions of Income Tax Act 1961 – Finance Act – Basic Concepts.

Unit 2

Income Tax – Deductions, Computation, Payment and Accounting- Deductions From Gross Total Income, Rebates and Reliefs and Computation of Taxable Income and Tax Payable, Filing of Income Tax Returns – Provisions, Forms and Due Dates, Notices and Assessments.

Unit 3

Tax Planning for Firms, HUFs and AOPs- Partnership Firm Under Income Tax Law, Tax Deductions Available to Firms, Provisions Relating to Interest and Remuneration Paid to Partner, Computation of Partnership Firms ‘Book Profit, Set-off and Carry-Forward of Losses of Firms and Taxation of HUFs and Associations of Persons (AOPs).

Unit 4

Corporate Taxation- Computation of Taxable Income, Carry-Forward and Set-Off of Losses for Companies, Minimum Alternative Tax (MAT), Set-off and Carry-Forward of Amalgamation Losses, Tax Planning for Amalgamation, Merger and Demerger of Companies, Tax Provisions for Venture Capital Funds.

Unit 5

Tax Audit and Accounting for Income Tax - Tax Audit, Qualities and Qualifications Required in Tax Auditors, Forms, Reports and Returns and Tax Reporting and Disclosure in Financial Statements.