U.O.No. 9325/2015/Admn Dated, Calicut University.P.O, 04.09.2015 File Ref.No.19337/GA - IV - E - SO/2015/Admn UNIVERSITY OF CALICUT Abstract Faculty of Commerce and Management Studies- BCom Taxation Specialisation under CUCBCSS Programme- Syllabus approved- Orders issued G & A - IV - E Read:-1) Letter dated 12-02-2015 from the Principal, Fathima Arts and Science College, Nilambur. 2) Minutes of the meeting of the Board of Studies in Commerce(UG) held on 23-05- 2015. 3) Minutes of the meeting of the Faculty of Commerce and Management Studies held on 03-06-2015. 4) Minutes of the meeting of the Academic Council held on 11-07-2015. 5) Orders of the Vice Chancellor in file of even no. dated 04-08-2015. ORDER As per paper read First above, the Principal, Fathima Arts and Science College Nilambur has informed that sanction has been accorded to introduce Taxation as Specialisation to BCom course in that College and also requested to approve the Syllabus for BCom Taxation as specialisation under CUCBCSS Programme. As per paper read Second above, the Board of Studies in Commerce(UG) at its meeting held on 23- 05-2015 vide item no.2, considered the request of Fathima Arts and Science College ane resolved to add Taxation Specialisation to the BCom (CUCBCSS) Programme and approved the syllabus. The Core Course under the specialisation are: 1) BC5B10-Principles of Taxation. 2)BC5B11-Indirect Taxes Law and Practice. 3) BC6B14-Income Tax Assessment. 4) BC6B15-Corporate Taxation and Tax Planning. As per paper read Third above, the Faculty of Commerce and Management Studies at its meeting held on 03-06-2015 has approved the minutes of the meeting of the Board of Studies in Commerce(UG) held on 23-05-2015.
Faculty of Commerce and Management Studies- BCom Taxation Specialisation under CUCBCSS
Programme- Syllabus approved- Orders issued
G & A - IV - E
Read:-1) Letter dated 12-02-2015 from the Principal, Fathima Arts and Science College,
Nilambur.
2) Minutes of the meeting of the Board of Studies in Commerce(UG) held on 23-05-
2015.
3) Minutes of the meeting of the Faculty of Commerce and Management Studies held
on 03-06-2015.
4) Minutes of the meeting of the Academic Council held on 11-07-2015.
5) Orders of the Vice Chancellor in file of even no. dated 04-08-2015.
ORDER
As per paper read First above, the Principal, Fathima Arts and Science College Nilambur has
informed that sanction has been accorded to introduce Taxation as Specialisation to BCom course
in that College and also requested to approve the Syllabus for BCom Taxation as specialisation
under CUCBCSS Programme.
As per paper read Second above, the Board of Studies in Commerce(UG) at its meeting held on 23-
05-2015 vide item no.2, considered the request of Fathima Arts and Science College ane resolved
to add Taxation Specialisation to the BCom (CUCBCSS) Programme and approved the syllabus.
The Core Course under the specialisation are:
1) BC5B10-Principles of Taxation.
2)BC5B11-Indirect Taxes Law and Practice.
3) BC6B14-Income Tax Assessment.
4) BC6B15-Corporate Taxation and Tax Planning.
As per paper read Third above, the Faculty of Commerce and Management Studies at its meeting
held on 03-06-2015 has approved the minutes of the meeting of the Board of Studies in
Commerce(UG) held on 23-05-2015.
Usha K
Deputy Registrar
Forwarded / By Order
Section Officer
As per paper read Fourth above, the Academic Council at its meeting held on 11-07-2015 vide
item no.II(G) has resolved to approve the minutes of the meeting of the faculty of Commerce and
Management Studies alongwith the minutes of the meeting of the Boards of Studies coming under
the Faculty.
Sanction has therefore been accorded by the Vice Chancellor for implementing the resolution of
the Academic Council for adding Taxation Specialisation to BCom(CUCBCSS) Programme and also
for implemnting the Syllabus for the Core Course under the Specialisation as:
1) BC5B10-Principles of Taxation.
2)BC5B11-Indirect Taxes Law and Practice.
3) BC6B14-Income Tax Assessment.
4) BC6B15-Corporate Taxation and Tax Planning.
Orders are issued accordingly.
(Copy of the Syllabus appended)
To
The Principal, Fathima Arts and Science College, Nilambur.
Copy to: Controller of examinations/ JCE-3/JCE-1/EX/EG-1sections/ PA to CE/PA to
Registrar/ SF/FC.
The System Administrator(with a request to upload the Syllabus in the University Website)
Courses in the Area of Specialisation : Taxation
BC5 B1O PRINCILPES OF TAXATIONlecture Hours per week : 5
Objectives:
Module ll
Module tV
! To provide knowledge on basic principles of Taxation.) To famiriarise the students wiih tt,e structure of rndian Taxation system andConstitutional provisions pertaining to Taxes.
Module I
Principres of Taxation : objectives of Taxaiion - Effects of Taxation on production ,
distribution and employment _ Cannons of Taxation _ Tax_GDp Ratio : Meaning _Significance and determinants _ Trends in Tax_GDp Ratio _ Features of good TaxationSystem - Tax equity: Benefit principle of Taxation _ Ability to pay principle of Taxation _Tax capacity and Tax effort _ Meaning of Taxabie capacity I AUsolute and Relativecapacity - Factors determining Taxable capacity.
Classification of Taxes : Direct and lndirect Taxes _ Relative role of Direct and lncjirectTaxes in lndian economy - Advantages and disadvantages of Direct and rndirect Taxes -OECD crassification : progressive , pl0portionar and Regressive Taxes - Advarorem andspecific taxes - An overview of Direct and lndirect Taxes in lndia _ Central and StateDirect and tndirect Taxes - Distinction between Direct and rndirect raxes.
Credits : 4
(20 Hours)
(15 Hours)
(L5 Hours)
lncidence of faxation : lmpact and incidtFactors determining extent or tax shirtin, l;:r:,1:'l:t"; l:::;:rrl::r:Tffi:T_Taxation - Distribution of Tax burden _ Tax evasion in lndia _ Causes and consequencesof tax evasion - Methods to curb tax evasion - Tax incentives - Rationare, benefits and
;:il1,:.;':::,il::;i:J_s of tax incentives .rax Hoiidays _ rnvestment A,owance _
lnternational Doubie Taxation : AssResidence - Methods to alleviate inter
,l
Module V (15 Hours)constitutional Provisions Relating to Taxes : Rationare for constitutional arrangements -Distribution of Taxation powers 1.,*uun-r',e centre and states in the Constitution oflndia - Restriction on the Taxation powers of the States _ Sharing of Central Taxes _Recommendations of the Fourteenth finance Commission
.
(10 Hours)
References :
1' Musgrave. Richard and peggy Musgrave, ,pubric Finance in Theory and practice,
Tata McGraw Hill publishing Company Ltd, New Delhi.2' peerzode' sayal Afzar, 'Economics of raxation" Atrantic publishers & Distributorspvt Ltd.
3. Tyagi 8.p., ,public Finance,, Jai prakash Nath and Company, Meerut.4' Sury M.M., 'Fiscar policy Deveropment in rndia 1.947_2007,,rndian Tax Foundation
in association with New Century publications, New Delhi.5' Goode Richard' 'Government Finance in Deveroping Countries,, Tata McGraw HilrPublishing Co. Ltd, New Delhi.
6. Lekhi R.K, ,public Finance,, Kalyani publishers, New Delhi.
7' Basic rnternationarTaxation principres:Vor r& ,, Roy Robatgi, Taxman.8' singhania Vinod K, 'Direct raxes: Law and practice,, Taxmann pubrications (p) tto,New Delhi.
z
BC5 811 INDIRECT TAXES tAW AND PRACTICE
lecture Hours per week : 5 Credits : 4
Objectives :
) To enable the students to understand the importance of lndirect raxes in thelndian economy.) To impart basic knowredge about Excise Duty, customs Duty, csr, VAT andservice Tax and the practicar assessment of tax burden.
Module I
lntroduction to rndirect raxes: rndirect Taxes - Features - Types of lndirect raxes _Merits and demerits - constitutionar provisions rerating to rndirect raxes.
centrar Excise : centrar Excise Act 1g44 And Rerated Rures - Nature of Excise Duty _Types of Excise Duties - lmportant terms and definitions - Basis of duty payable - Basisof Assessable Value - lnclusions in and exclusions from Transaction Value - Valuationrules to determine Assessable value - payment of Excise Duty _ Registration _ CENVAT :Meaning-sarientfeatures-rnput goodsandcapitargoods_rnputservice_Exemptionfrom duty - Excise concessions to small scale industries - Assessment procedures inCentral Excise.
Module ill
Module lV
(05 Hours)
(20 Hours)
(L5 Hours)
customs Duty: customs Act, 1962 - Meaning of Customs Duty - Types of CustomsDuties - Exemptions from customs Duties - Classification and valuation of goods -customs Authorities - provisions governing import and export of goods _ speciarprovisions regarding baggage, courier and post.
Kerala Value Added Tax And Central sales Tax : Basic concept of VAT - cascading effectof tax - Advantages of VAT - Disadvantages and pitfalls in VAT _ Kerala Value AddedTax' 2003 - lmportant terms and definitions - lncidence and levy of tax - purchase Tax -Presumptive Tax - lnput rax credit - Refund of rnput rax - negistration - submission ofReturns - Assessment of tax - Payment and recovery of tax - Relevant statutory Forms- e-filing procedures.
central sales Tax : lmportant terms and definitions - lnter state sales - Tax on interstate sales - Registration - Determination of Turnover - Levy and collection of tax -Goods of special importance and rate of tax .
(20 Hours)
1
Module V
:il::::;#,i5",'.T:iTJI': ffi:L:11,;i,;ff,:,
service rax - Mean ng orExemptions from service Tax - Rate of service Tax - orrur*l;ffi:"Jil?:1;T;of Advertising agency services, Banking and Financial SerServices, Tele-communication a^,,.,^^^
o__"rrv t 'rrdrlclst services, General lnsuranceservices.
rmunication services' Tour operating Services, rr and soft ware
(15 Hours)( Theory & simpre probrems may be in the ratio of 70% and 3,%respectivery
)
References :
L' Datey V's' lndirect raxes - Law and Practice, Taxman pubrications pvt Ltd, New Derhi.2' Vinod K Singhania, service Tax, Taxman pubrications pvt Ltd, New Derhi.3' chandrasekhar, p.s, Essays on central sares TaxAct, sai pubrications,
Hyderabad.4. Gaur & Narang, Centralsales Tax Act, Kalyani publishers.
5' Barachandran V, tndirect raxation, surthan Chand sons , New Derhl.6. Bare Acts of lndirect Taxes.
-+-
) To provide practicar skiils on the computation Taxabre invanous assesses. ,,.iJvroL,vr I I crxdote tncome and Tax liability of
P To familiarise the students with the procedure for filing of lncome Tax Returns.Module I
Computation of Taxabre rncome: crubbing of incomes and aggregation of incomes _ setoff and carry forward of losses _ tn.or",
:iiH :X.* -, *,.,,
" " s rro m c,o,, ro,lr',::i J: f#;i:ff I J,,"1 lffi ;:1,:
BC5 814 INCOM; TAX ASSESSMENT
Lecture Hours per week : 5
Objectives :
Module ilAssessment of Various Entities :
Module illAssessment of Firms and Association of persons:
(l) Assessment of lndividuars : Treatment of income received from differentinstitutions - Computation of Taxabre rncome and Tax riabirity _ Apprication ofArternate Minimum Tax (AMT) on lndividuars _Tax pranning for rndividuarswith respect to a, 5 Heads of income, deductions, exemptions, rebate, rerief,concessions and incentives.(ll) Assessment of Hindu Undivided Family : Schools of Hindu Law _ Residentialstatus of HUF - rncome not to be treated as Famiry income _ computation ofTotal lncome of HUF and Tax liability.
Credits : 4
(15 Hours)
(25 Hours)
(15 Hours)
(l) Assessment of Firms - computation of Book profit - Remuneration topartners _ Computation of Total lncome and Tax liability.(ll) Assessment of AoP/Bol - Computation of Total lncome of AoplBot _ Taxliability of AOp/BOt _ Treatment of share of income from AOp/BOt.
Module lVAssessment of co-operative societies and Trusts : Co-operative societies - Meanlng -Deductions u/s g0 p - other deductions - computation of Taxabre rncome & Taxliabirity. Trusts : Definition - creation - Registration _.Types of Trusts _ Tax exemptions- Accumuration of income - rncome not exempted - Assessment of Trust.
(10Hours)
'.r-
i
I
L
Module VProcedure For Assessment : Filing of difflrent types of Returns of income - Types ofassessment - Deduction and collection of Tax at source - Advance payment of Tax -Recovery of Tax - lncome Tax Authorities - Appeals and Revision - Penalties &Prosecutions.
(10 Hours)
(Theory and Problem may be in the ratio of 40% and 60% respectively)
References :
1. Mehrotra H.C, Goyal S.P, Direct Taxes, Sahitya Bhavan, New Delhi.
2. Bhagavathi Prasad, Direct Taxes Law & Practice, Wishwa Prakashan, New
Delhi.
3 . Vinod K Singania & Kapil Singania, Taxmans' Direct Tax Laws & Practice, Taxman
Publications (P) Ltd.
4. Gaur V.P , Narang, lncome Tax Law & Practice, Kalyani Publishers.
5, Lal B.B, Direct Taxes, Konark Publishing House, New Delhi.
-6-
BC6 815 CORPORATE TAXATION AND TAX PLANNING
Lecture Hours per week : 5
Objectives:
! To familiarise the students with the latest provisions of the lndian Corporate TaxLaws and to rearn about the computation of Taxabre rncome of companies.
) To acquaint with the concept of Tax pranning and Tax Management underlncome Tax law.
Module I
Assessment of companies : Definition of company - Types of companies _ Residentialstatus and incidence of tax - carry forward and set off of losses in the case ofcompanies - Deduction available to Corporate Assessee - computation of corporateTax.
( 15 Hours)
computation of Taxable lncome & Tax.Liability : special provisions applicable toassessment of Total lncome of Companies - Computation of Total lncome of Companies- Determination of amount of Corporate Tax liability - Minimum Alternative Tax (MAT)-Tax on distributed profits of domestic Companies-Tax on amount distributed to unitholders - Security Transaction Tax.
Module lll( 25 Hours)
lntroduction to Tax Planning; Meaning of Tax Planning and Management, Tax evasionand Tax avoidance - Nature and scope of Tax pranning and Management in thecorporate sector - Justification of Corporate Tax planning and Management .
( 10 Hours)Module lV
Tax Planning For Specific Management Decisions : Tax Planning with Capital structuredecisions - Dividend Policy - Bonus shares -lnvestments and Capital Gains - owning orLeasing of an asset - Make or buy, repair /replace, export or domestic sales, shut downor continue.
( 15 Hours)Module V
Tax Planning For Setting up of a New Business: lmplication of Tax Concessions andlncentives for Corporate decision in respect of setting up of a new business, location,nature and form of business - Tax Planning relating to Special Economic Zone (SEZ),
-7-
Export Processing Zones, lnfrastructure Sector and backward areas - Tax lncentives forexports.
(10 Hours)
(Theory and Problem may be in the ratio of 50% and s0% respectively)
References :
1. Mehrotra H.C, GoyalS.p,'DirectTaxes,, Sahitya Bhavan, New Delhi.
