Direct Tax - Laws and Practice

2022/2023

Academic Year

ENG

Instruction in English

4

ECTS credits

Delivered by:

School of Public Law

Type:

Elective course

When:

4 year, 3 module

Instructor

Soldatova, Larisa

Course Syllabus

Abstract

No government can run a country without revenue. One of the major sources of revenue is taxation. Taxes can be classified as Direct and Indirect Tax. Direct taxes encompass those taxes where impact and incidence falls on the same person. Income Tax Act, 1961 is the prime legislation in the area of direct taxes in India. It is very interesting to know various facets of this Act. The Act makes ample scope for tax planning and tax management by utilizing various provisions which are enshrined therein. A tax payer can reduce her tax liability by taking advantage of various incentives that are provided in the Act. It creates a win-win situation. This UG/PG Level 4 credit course is inter-disciplinary in nature and any graduate or anyone pursuing graduation, who wishes to learn about Indian income tax system, can enroll. After completion of the course, a learner can have following takeaways:. 1. An overview of the direct taxation system of India. 2. Knowledge of computation of income tax. 3.Idea on various avenues for tax planning and tax management 4. Awareness on the compliance of tax laws 5. Enabling to file income tax returns 6. Taking occupation as tax consultants

Learning Objectives

• study and understanding of direct taxes

Expected Learning Outcomes

• understand an overview of the direct taxation system of India.
• get value of computation of income tax
• file income tax returns
• get value of various avenues for tax planning and tax management

Course Contents

• Theme 1. Basic Concepts and Definitions - Income Tax Act, 1961
• Theme 2.Residential Status and Incomes Exempt from Tax
• Theme 3. Income from Salaries
• Theme 4.Income from House Property
• Theme 5.Profits and Gains of Business or Profession
• Theme 6.Capital Gains
• Theme 7. Income from Other Sources
• Theme 8. Deductions from Gross Total Income
• Theme 9. Clubbing of Income and Set off & Carry Forward of Losses
• Theme 10. Return of Income and Assessment
• Theme 11. Advance Payment of Tax and Tax Deduction/Collection at Source
• Theme 12. Computation of Taxable Income of Individuals
• Theme 13.Computation of Taxable Income of Companies
• Theme 14. Appeals and Revisions
• Theme 15. Tax Planning

Assessment Elements

• Interview
• Exam

Interim Assessment

• 2022/2023 3rd module
  0.4 * Interview + 0.6 * Exam

Bibliography

Recommended Core Bibliography

• A contribution to the pure theory of taxation, Guesnerie, R., 1995
• A global analysis of tax treaty disputes. Vol.2: BRICS countries and beyond, , 2017
• Advanced issues in international and European tax law, Panayi, Christiana HJI, 2015
• Equal tax treatment of legal forms for businesses in international tax law: A new dawn for international taxation. (2019). Kluwer Law International BV. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsnar&AN=edsnar.oai.tilburguniversity.edu.publications.62b3f6d8.4e03.47f6.a271.f668c4b98365
• Pistone, P., Roeleveld, J. J., Hattingh, J., Nogueira, J. F. P., & West, C. (2019). Fundamentals of Taxation : An Introduction to Tax Policy, Tax Law, and Tax Administration. IBFD.

Recommended Additional Bibliography

• A dictionary of taxation, James, S., 1998
• A global analysis of tax treaty disputes. Vol.1: OECD countries, , 2017
• Anđelković, M. (2018). Arbitration in international tax law. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.CE592DF2
• Под ред. Титовой Е.В., Подшивалова Т.П. - Smart Law for Smart Industry. Сборник научных статей - 978-5-998-81181-4 - РГ-Пресс - 2020 - http://ebs.prospekt.org/book/43804 - 43804 - PROSPECT