U.O.No. 11053/2015/Admn Dated, Calicut University.P.O, 26.10.2015

File Ref.No.28305/GA - IV - E3/2013/CU

UNIVERSITY OF CALICUT

Abstract

Faculty of Commerce and Management Studies- Syllabus for BCom Taxation Specialisation under

CCSS-UG programme-Modified- Approved- Orders issued.

G & A - IV - E

Read:-1) UO No.9325/2015/Admn dated 04-09-2015

2) Letter dated 09-10-2015 from the Principal, Fathima Arts and Science College,

Nilambur..

3) Letter dated 10-10-2015 from the Chairman, Board of Studies in Commerce(UG)

4) Letter dated 16-10-2015 from the Dean, Faculty of Commerce and Management

Studies.

5) Orders of the Hon'ble Vice Chancellor in file of even no. dated 19-10-2015.

ORDER

As per paper read First above, UO was issued for implementing the Syllabus for BCom Taxation

specialisation under CUCBCSS Programme.

As per paper read Second above, the Principal, Fathima Arts and Science Colege Nilambur has

informed that since the Syllabus for BCom Taxation specialistion was implemented under CUCBCSS

Programme, the students of Vth semester BCom under CCSS-UG Programme, who completed the

course of study under CCSS Programme cannot be registered for their examinations during this

academic year 2015-16.

As per paper read Third above, the matter has been clarified by the Chairman, Board of Studies in

Commerce(UG) that there is an error occured in the Minutes of the meeting of the Board of Studies

in Commerce(UG) held on 23-05-2015 that the Syllabus of BCom Taxation specialisation was

approved under CCSS-UG Programme, but in the minutes it was recorded by mistake as BCom

Taxation Specialisation under CUCBCSS Programme. The Chairman has therefore requested to

take necessary steps to rectify the error occured in the miinutes.

As paper read Fourth above, after having considered the clarification received from the Chairman,

Board of Studies in Commerce(UG),the Dean, Faculty of Commerce and Management Studies,

has recommended to approve the clarification received from the Chairman, in the minutes of the

meeting of the Board of Studies in Commerce (UG) held on 23-05-2015.

After having examined the matter in detail, sanction has been accorded by the Vice Chancellor for

making necessary correction in the minutes of the meeting of the Board of Studies in

Commerce(UG) held on 23-05-2015 and also for implementing the Syllabus of BCom Taxation

Lalitha K.P

Assistant Registrar

Forwarded / By Order

Section Officer

Specilisation under CCSS-UG programme.

The UO read first above is stands modified to this extent.

Orders are issued accordingly.

( Syllabus is appended)

To

The Principal, Fathima Arts and Science College, Nilambur.

Copy to: Controller of Examinations/ JCE-1, JCE-3/EX/EG-1/EC-1/ PA to CE/PA to

Registrar/ SF/FC

System Administrator(with a request to upload the same in the University Website)

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.

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 IPrincipres 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 PRACTICElecture Hours per week : 5

Credits : 4Objectives :

) 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 Ilntroduction 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 IComputation 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 ASSESSMENTLecture 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 IAssessment 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.

2. Bhagavathi Prasad, 'Direct Taxes Laws & Practice',. Wishwa Prakashan, New

Delhi.

3. Vinod K Singhania, Monica Singhania, 'Corporate Tax Planning And Business Tax

Procedure', Taxman publications pvt Ltd, New Delhi.

4. 'Corporate Tax Planning And Management', Lakbotia Vision Publishers.

5. Aggarwal P. K, 'Tax Planning For Companies', Hind Law Publishers, New Delhi.

5. Lal B.B & N. Vashisht, 'DirectTaxes - lncome Tax & Tax Planning', Konark

Publishing House, New Delhi,

7. Girish Ahuja, &. Ravi Gupta, 'Direct Tax Law And Practice And Tax Planning',Bharat

Law House Pvt Ltd, New Delhi.

8. Manmohan, 'Direct Taxes With Tax Planning'.

^&-