CS Executive Notes of Tax Laws and Practice

CS Executive Notes of Tax Laws and Practice

CS Executive Notes of Tax Laws and Practice (based on Finance Act, 2016 relevant for June, 2017 examination)

CS Executive Notes of Tax Laws and Practice
You can download notes of cs executive tax laws and practice pdf as well as other subject Notes


PART A: INCOME TAX AND WEALTH TAX (70 MARKS)


  1. Basics and Definitions – Income Tax Act , 1961
    • Background, Concept and Mechanism of Income Tax
    • Definitions, Concept of Income, Previous Year, Assessment Year, Distinction between Capital and Revenue Receipts and Expenditure, Residential Status
    • Basis of Charge and Scope of Total Income
  2. Incomes which do not form part of Total Income
  3. Computation of Total Income under Various Heads
  4. Salaries, Income from House Property, Profit and Gains of Business or Profession, Capital Gains, Income from Other Sources

  5. Income of Other Persons included in Assessee’s Total Income;……..
  6. Aggregation of Income and Set Off or Carry Forward of Losses; Various Deductions to be made in Computing Total Income, Rebates and Relief’s; Applicable Rates of Taxes and Tax Liability

  7. Taxation of Individuals including Non-Residents, Hindu Undivided Family, Firms, LLP, Association of Persons, Cooperative Societies, Trusts, Charitable and Religious Institution
  8. Classification and Tax Incidence on Companies
  9. Computation of Taxable Income and Assessment of Tax Liability, Dividend Distribution Tax, Minimum Alternate
    Tax and Other Special Provisions Relating to Companies

  10. Tax Deduction at Source, Tax Collection at Source, Recovery and Refund of Tax Provisions of Advance Tax
  11. Provisions concerning Procedure for Filing Returns, Signatures
  12. E-Filing, Assessment, Reassessment and Settlement of Cases, Special Procedure for Assessment of Search Cases, E-Commerce Transactions, Liability in Special Cases, Collection and Recovery of Tax, Refunds, Appeals and Revisions; Penalties Imposable, Offences and Prosecution.

  13. Tax Planning & Tax Management
  14. Concept of Tax planning, Tax planning with reference to setting up a New Business; Location; Nature of Business; Tax Holiday, etc. Tax Planning with regard to Specific Management Decisions such as Mergers and Takeovers; Employees’ Remuneration; Voluntary Retirement Tax Planning with reference to Financial Management Decisions such as Borrowing or Investment Decisions; Reorganization or Restructuring of Capital

  15. Wealth Tax Act, 1956*
    • Background, Concept and Charge of Wealth Tax
    • Assets, Deemed Assets and Assets Exempt from Tax
    • Valuation of Assets, Computation of Net Wealth
    • Return of Wealth Tax and Provisions concerning Assessment
  16. Basic Concepts of International Taxation
  17. Residency Issues; Source of Income; Tax Havens; Withholding Tax, Unilateral Relief and Double Taxation Avoidance Agreements, Controlled Foreign Corporation, Advance Rulings and Tax Planning, Authority for
    Advance Rulings.

  18. Transfer Pricing
    • Concepts, Meaning of International Transactions
    • Computation of Arm’s Length Price & Methods
    • Documentation and Procedural Aspects
  19. General Anti Avoidance Rules (GAAR)

PART B – SERVICE TAX & SALES TAX (30 Marks)


  1. An Overview of Service Tax
  2. Background, Negative List Approach, Taxable Services, Administrative Mechanism, Registration and Procedural Aspects, Rate and Computation of Tax, Levy, Collection and Payment of Service Tax.

  3. An Overview of Value Added Tax
  4. Legislative Background, Concept of VAT, Declared Goods, Administrative Mechanism, Registration and Procedural Aspects, Rate and Computation of Tax, Levy, Collection and Payment of VAT.

  5. Central Sales Tax
  6. Tax on Inter- State Trade and Exports – Registration, Preparation and Filing of E-Returns, Rates of Tax,Assessment and Refunds.


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