CS Executive Tax Laws Online Classes / Video Lectures for June 2023/Dec 2023

Paper 4
Tax Laws (Max Marks 100)

Syllabus
Objective:

Part I : To provide working knowledge on practical application of Direct Tax Laws.
Part II : To provide conceptual knowledge of GST with practical application of GST Laws.

PART I: DIRECT TAXES (50 Marks)

Detailed Contents

1. Direct Taxes at a Glance : Background of Taxation system in India; Vital Statistics; layout; Administration.
2. Basic concepts of Income Tax : An Overview of Finance Bill, ; Important definitions under Income Tax Act, 1961; Distinction between Capital and Revenue receipts and expenditure; Residential Status & Basis of Charge; Scope of Total Income; Tax Rates.
3. Incomes which do not form part of Total Income : Incomes not included in total income; Tax holidays.
4. Computation of Income under Various Heads : Income from Salary; Income from House Property; Profit and Gains of Business or Profession; Capital Gains; Income from Other Sources; Fair Market Value.
5. Clubbing provisions and Set Off and / or Carry Forward of Losses : Income of other persons included in Assessee’s Total Income; Aggregation of Income; Set off and / or Carry forward of losses.
6. Deductions from Gross Total Income & Rebate and Relief : Deductions in respect of certain payments; Specific deductions in respect of certain income; Deductions in respect for donations for expenditure under CSR activities; Rebates and Reliefs.
7. Computation of Total Income and Tax Liability of various entities : Individual; Hindu undivided Family ‘HUF’; Alternate Minimum Tax (AMT); Partnership Firm / LLP; Co-operative Societies; Association of Person ‘AOP’ and Body of Individual ‘BOI’; Political Parties; Electoral Trusts; Exempt Organization – Registration u/s 12A/ 12AA;
8. Classification and Tax Incidence on Companies : Computation of taxable income and tax liability of Company; Dividend Distribution Tax; Minimum Alternate Tax ‘MAT’; Other Special Provisions relating to Companies; equalization levy.
9. Procedural Compliance : Permanent account Number ‘PAN’ / Tax Collection account Number ‘TAN’; Tax Deduction at Source ‘TDS’ & Tax Collection at Source ‘TCS’; Advance Tax & Self Assessment Tax ‘SAT’; Returns, Signatures, E-Filing; Fee and interest for default in furnishing return of Income; Collection, Recovery of Tax, Refunds.
10. Assessment, Appeals & Revision : Assessment; Types of Assessment; Appeals; Revisions; Search, Seizure, Penalty and Offences.
    Case Laws, Case Studies & Practical Aspects.

PART II: INDIRECT TAXES (50 MARKS)

(A) Goods and Services Tax
11. Concept of Indirect Taxes at a glance : Background; Constitutional Powers of Taxation; Indirect Taxes in India – An Overview; Pre-GST Tax Structure and Deficiencies; Administration of Indirect Taxation in India; Existing Tax Structure.
12. Basics of Goods and Services Tax ‘GST’ : Basics Concept and Overview of GST; Constitutional Framework of GST; GST Model – CGST /IGST / SGST / UTGST; Taxable Event; Concept of supply including Composite and Mixed Supply; Levy and Collection of CGST and IGST; Composition Scheme & Reverse Charge; Exemptions under GST.
13. Concept of Time, Value & Place of Taxable Supply : Basic Concepts of Time and Value of Taxable Supply; Basics Concept of Place of Taxable Supply.
14. Input Tax Credit & Computation of GST Liability– Overview.
15. Procedural Compliance under GST : Registration; Tax Invoice, Debit & Credit Note, Account and Record, Electronic Way Bill; Return, Payment of Tax, Refund Procedures; Audit.
16. Basic overview on Integrated Goods and Service Tax (IGST), Union Territory Goods and Service tax (UTGST), and GST Compensation to States.

(B) Customs Act
17. Overview of Customs Act : Overview of Customs Law; Levy and Collection of Customs Duties; Types of Custom Duties; Classification and Valuation of Import and Export Goods; Exemption; Officers of Customs; Administration of Customs Law; Import and Export Procedures; Transportation, and Warehousing; Duty Drawback; Demand and Recovery; Confiscation of Goods and Conveyances; Refund.
Case Laws, Case Studies & Practical Aspects.