Important Topics of Direct Tax Laws & Indirect Tax Laws


Important Topics of Direct Tax

Section I (21 Marks to 32 Marks)

1.   Basis of charge, residential status, income which do not form part of total income, heads of income, income of other persons included in assessee’s total income, aggregation of income; set-off and carry forward of losses, deductions from gross total income, rebates and reliefs.

2.   Special provisions relating to companies and certain persons other than a company. Including firms, LLPs; Trusts, AOPs, BOls, Sec uritsation Trusts; Business Trusts; Investment Fund etc.

Section II (4 Marks to 7 Marks)

3.   Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts

Section III (4 Marks to 7 Marks)

4.   Tax Planning; Tax Avoidance & Tax Evasion

Section IV (14 Marks to 18 Marks)

5.   Collection & Recovery of Tax, Refunds

Section V (11 Marks to 14 Marks)

6.   Income-tax Authorities. Procedure for assessment. Appeals and Revision T Settlement of Tax Cases, Penalties, Offences & Prosecution

Section VI (4 Marks to 7 Marks)

7.   Liability in Special Cases
8.   Miscellaneous Provisions and Other Provisions

Part II: International Taxation (30 Marks)

Section 1(15 Marks to 18 Marks)

1.   Taxation of international transactions and Non-resident taxation (i) Provisions of the Income-tax Act, 1961, including —
a.   Specific provisions relating to Non-residents
b.   Double Taxation Relief
c.   Transfer Pricing & Other Anti-Avoidance Measures
d.   Advance Rulings

2.   Equalisation levy
Section 11(12 Marks to 15 Marks)

2. Overview of Model Tax Conventions — OECD & UN
3. Application and interpretation of Tax Treaties
4. Fundamentals of Base Erosion and Profit Shifting


Important Topics of Indirect Tax


Ø  Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017

Ø  Chapter 1 (ii) Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in territorial waters; Charge of tax; Exemption from tax; Composition levy (iii) Place of supply (iv) Time and Value of supply (v) Input tax credit

Ø  (vi) Computation of GST liability

Ø  (vii) Procedures under GST – All procedures including registration, tax invoice, credit and debit notes, electronic waybill, accounts and records, returns, payment of tax including reverse charge, refund, job work (viii) Provisions relating to electronic commerce (ix) Liability to pay in certain cases

Ø  (xii) Demand and Recovery (xiii) Offences and Penalties (xiv) Advance Ruling (xv) Appeals and Revision

Ø  Constitutional aspects (x) Administration of GST; Assessment and Audit (xi) Inspection, Search, Seizure and Arrest

Part-II: Customs & FTP (25 Marks)

Ø  (ii) Levy of and exemptions from customs duties – All provisions including the application of customs law, taxable event, charge of customs duty, exceptions to the levy of customs duty, exemption from customs duty (iii) Types of customs duties (iv) Classification and valuation of imported and export goods


Ø  Chapter 2: iii) Basic concepts relating to export promotion schemes provided under FTP

Ø  Chapter 2 :(i) Introduction to FTP – legislation governing FTP, salient features of an FTP, administration of FTP, contents of FTP and other related provisions Chapter 1 (i) Introduction to customs law including Constitutional aspects (iv) Classification and valuation of imported and export goods (v) Import and Export Procedures – All import and export procedures including special procedures relating to baggage, goods imported or exported by post, stores


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