syllabus mba GROUP B: FINANCIAL MANAGEMENT Paper I: Corporate Taxation

GROUP B: FINANCIAL MANAGEMENT
 Paper I: Corporate Taxation
SECTION A
Unit I: Definition of Income & Assesse, Previous year, Assessment year, Gross total income, Total
taxable income, Residential status, Agricultural income.
Unit II: Distinction between capital and revenue receipts; Income from Business & Profession
(excluding professional income) Income from capital gains and income from other sources relating to
company assesse only.
Unit III: Income from capital gains and income from other sources relating to company assesse only.
Unit IV: Income exempt from tax, Tax rebates, Deductions relating to company assesse only. Set of &
Carry forward of losses, TDS, Self assessment tax, Filing of return.
Unit V: Tax Planning - Concept, Tax Planning with reference to setting up of new business, Financial
management decisions & Employees remuneration.
SECTION B
Unit VI: Special features of Indirect tax levies - All pervasive nature, contribution to Government
revenues; instruments of planning, Development and fiscal performance; Constitutional provisions
authorizing the levy and collection of duties of central excise, Customs and central sales tax.
Unit VII: Central Excise Laws - Basis of chargeability of duties of central excise- goods, Manufacture,
Classification and valuation of excisable goods- specific issues and case studies; Assessment procedure,
Exemption, Payment, Recovery and refunds of duties.
Unit VIII: Central sales tax - Scope of levy of Central Sales Tax; Inter-State sale, Sale outside a State and
sale in the course of import and export-basic principles; Registration of dealers and determination of
taxable turnover.
Unit IX: Service Tax - Provisions of law and procedures; VAT – concept, Applicability, Procedures
involved and implications of the VAT.
Unit X: Customs Laws - Nature of customs duty, Types of customs duty, Classification for Customs and
rate of duty, Valuation for customs duty, Provisions regarding baggage, Courier, Postal articles and
stores.
NB: Numerical shall be based on Unit II & Unit III only.
Suggested Readings:
1.
Ahuja, G. K. & Gupta, Ravi, Systematic Approach to Income Tax. Allahabad, Bharat Law House.
2.
Datey V. S.: Indirect Taxes, Taxmann Publications, New Delhi
3.
Bhagwati Prasad, Direct Taxes Law & Practice, Wishwa Prakashan.
4.
Kanga, J. B. and Palkhivala, N. A., Income Tax, Bombay, N. M. Tripathi.
5.
Singhania V. K., Singhania Kapil, Singhania Monica, : Direct Taxes Law and Practice, Taxmann Publications, New Delhi