Indirect Taxes Law and Practice Notes

Examines the foundational theoretical architecture and operational frameworks of Assessment of Companies within Indirect Taxes Law and Practice. Key curricular components include 1 Introduction to corporate taxation-Definition of Company- types of companies 1 2 Residential status of companies and Incidence of tax 2 3 Carry forward and set off of losses in the case of companies 3 4 Deduction available to Corporate Assesse 2. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Computation of Taxable Income and Tax liability within Indirect Taxes Law and Practice. Key curricular components include 5 Introduction-Computation of GTI of company 2 6 Special provisions applicable to assessment of Total Income of companies 2 7 Computation of total Income of Companies 5 8 Determination of amount of Corporate Tax liability- Minimum Alternate Tax 3 9 Tax on distributed profits of domestic companies – Tax on amount distri. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Tax Planning within Indirect Taxes Law and Practice. Key curricular components include 10 Introduction to Tax Planning-Tax Planning and Management 3 11 Tax evasion and Tax avoidance 2 12 Nature and scope of tax planning and management in the corporate sector 2 13 Justification of Corporate Tax Planning and Management 3. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Corporate Tax Planning within Indirect Taxes Law and Practice. Key curricular components include 14 Tax Planning for Specific Management Decisions 2 15 Tax planning with capital structure decisions- 3 16 dividend policy – bonus shares 2 17 investments and Capital Gains 3 18 Owning or Leasing of an asset- make or buy, repair/replace. 3 19 Export or domestic sales, shut down or continue. 2 177 Page 178 of 369 -- 178. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Open Ended Module within Indirect Taxes Law and Practice. Key curricular components include Emerging topics in corporate taxation 178 Page 179 of 369 -- 179 of 369 -- Course Code COM6EJ314(7) Course Title INCOME TAX ASSESSMENT Type of Course Major Semester V Academic Level 300-399 Course Details Credit Lecture per week Tutorial per week Practical per week Total Hours 4 4 - - 60 Pre-requisites Studying income . Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Assessment of Firms and Association of Persons/ Body of Individuals within Indirect Taxes Law and Practice. Key curricular components include 4 Assessment of Firms including LLPs–Computation of Book Profit– Remuneration to Partners–Computation of Total Income and Tax Liability 5 5 Assessment of AOP/BOI–Computation of Total Income of AOP/BOI– Tax liability of AOP/BOI– Treatment of Shares of income received by members of AOP/BOI 5. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Assessment of Cooperative Societies, Trusts and Non-Resident Indians within Indirect Taxes Law and Practice. Key curricular components include 6 Assessment of Cooperative Societies: Cooperative Societies – Meaning – Deductions u/s.80P – Other deductions – Computation of taxable income and tax liability 4 7 Assessment of Trusts:Definition–Creation–Registration–TypesofTrusts– Taxexemptions–Accumulationofincome– income not exempted – Assessment of Trust 5 8 Inco. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Procedure for Assessment within Indirect Taxes Law and Practice. Key curricular components include 9 Types of Assessment – Deduction and Collection of Tax at Source 3 10 Advance Payment of Tax–Recovery of Tax–Income Tax Authorities 4 11 Appeals and Revisions – Penalties and Prosecutions 3. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.

Examines the foundational theoretical architecture and operational frameworks of Open Ended Module within Indirect Taxes Law and Practice. Key curricular components include This open-ended module aims to allow students to explore advanced topics within the realm of income tax assessment. a. Emerging Trends in Income Taxation b. Ethical Considerations in Taxation c. Strategies in tax planning Practical exercises: 1. Prepare Tax Planning for Individuals with respect to all five heads of inc. Coursework emphasizes statutory regulatory compliance, analytical evaluation, and structured problem-solving methodologies prescribed under Calicut University FYUGP regulations. Undergraduates develop competencies in contrasting theoretical perspectives, interpreting institutional practices, and addressing practical commercial scenarios evaluated in external university examinations.