This course will enable students to familiarize with latest provisions of Indian Tax laws with respect to different corporate and non-corporate entities.
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course title |
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2525FSG 121 |
Taxation Law & Practice (Theory) |
CO1: Attain an understanding of the provisions of the Income Tax Act, 1961, the difference between direct and indirect tax and assessment of Firm and AOP. CO2: Acquire knowledge regarding assessment of HUF. CO3: Interpret the special provisions of income tax related to the assessment of companies. CO4: Explain the residential status and assessment of non- Resident Indians. CO5: Analyze the concept of tax planning, avoidance, evasion and management and develop an understanding of the tax planning with reference to an individual assessee. CO6: Contribute effectively in course-specific interaction |
Approach in Teaching: Interactive Lectures, Discussion, Tutorials, Problem Solving Sessions & Presentations
Learning activities for the students: Self-learning assignments, Case Study Analysis, Class Presentations (Individual & Group) |
Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Individual & Group Projects |
● Canons of Taxation, Requirement of good Tax Structure, Taxes vs. Fees, Constitutional Background for Direct and Indirect Tax, Difference Between Direct and Indirect Tax
● Assessment of Firms including LLP.
● Assessment of AOP
● Provisions related to HUF and Computation of tax liability
● Partial Partition & Complete partition
● Assessment of Companies: Detailed Study of Income Tax law and rules with reference to Assessment of companies.
● Computation of Tax Liability. Assessment Procedure.
● Residential status and Scope of Income
● Presumptive taxation, Exempt income of Non-residents
● Special provisions u/s 115C to 115I
● Concept of Tax Planning, Tax Management, Tax Avoidance and Tax Evasion and difference between them. Objectives, types, areas and requisites of Tax Planning
● Personal Tax Planning of an Individual Assessee : Tax Planning with reference to an Individual
1. Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot) (Unit I and II)
2. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardiya (Unit I and II)
3. Direct Tax-Shah, Mangal, Mendiratta, Saini (Ramesh Book Depot) (Unit III, IV and V)
4. Direct Tax including Tax Planning and Management- H C Mehrotra
1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
2. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
3. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
Links:
[1] https://finance.iisuniv.ac.in/courses/subjects/taxation-law-practice-11
[2] https://finance.iisuniv.ac.in/academic-year/2025-2026