LL.M.
TAXATION LAW
Paper I - Gene{al principles of Taxation
Definition and Characterisation
1. Nature of rax - Definition - Definition under Indian Constitution
- Essential
Characteristics of tax kinds of Taxation - Direct Indirect- proportional,
-
Progtessive, Regressive Taxation _ Development of New levies
as VAT, FBT,
MAT, Service Tax- GST - Tax incentives.
Difference between tax - Fine, Fee licence fee, Duty, penalty.
Octori-Toll
2, Constitutional provisions:
Principles of federal finance position under the Indian
constitution with
particular reference to part xi ,xii, and relevant entries
in viith schedule.
4tt.248,265,269,286,249H, Z4gZ. Limits of subordinate
legislation
Retrospective operation of fiscal Iaw _important amendments.
3. Theoretical foundations of Taxation
Budget and raxation - objective
of Tax policy - source Jurisdiction and status
Jurisdiction - Double Taxation - Incidence of Tax _ Tax liability _ Tax
burden- Tax base - Historical perspective _ Ship money Tax
and salt tax_
Canons of taxation.
4. Tax Policy and Design of Tax System:
Taxation Income and property - Taxation on Consumption production
, and
service - Buoyancy and Elasticity of Tax System _ Tax
policy and economic
development - Tax Incentive, Assessment and collection of tax.
5. Interpretation of tax laws:
Law making process - Money Bill and Finance Bill _ Structure
og Tax Laws _
Different approaches to interpretation _ U.K. _ U.S.A _ India _
Aids to
interpretation - Doctrines applicabre to taxation Doctrine of Instrumentation
-
- Doctrines of Nexus - Doctrine of occupied filled - Tax evasion and rax
avoidance.
paper II
Direct Tax Laws
2.1 Introduction:
Background of Direct Tax levy Generar
- framework of Direct taxes - legislative
history - policies of Union relating to Direct
taxes Tax on Income and property -
Capital receipt and Revenue receipt Tax reforms
committee reports - salient
features of Income Tax At ^1961-,.'Brack
Money. Reration between income tax and
agriculture income tax.
2.2 Basic Concepts:
Income - Received, accrued - Tax arisen income
- - deemed income - person,
Assessee, Finance year, previous year,
Assessment year _ Residentiar status_ scope
of total income - exempted income, incidence
of tax - Fringe Benefit Tax (FBT) _
Minimum Alternate Tax.
2.3 Different Heads of Income:
Income from sararies - Income from House property profits
- & Gains of Business
of Profession - Capital Gains _ Income from
other sources.
2.4 Clubbing Deductiory Set-Off, Assessment,
TDS
Clubbing, Deduction, set-off & Carry forward
of losses - Deduction under Chapter
VI-A- Tax Deducted at source - Assessment
Income - serf assement summary,
scrutiny, best judgment _ escaped assessment.
2.5 Offences, Appeals & penalties:
Income Tax Authorities _ Appeals under the Act _
Settlement of cases
Offences & penalties _
- Recovery of Tax.Black money.
Paper III
Indirect Tax Laws
3.1 Introduction:
Historical back ground of Indirect Tax _ Features of Indirect
taxes _ legal
perspective of indirect tax levy - legisrative history Tax
- Reforms committee -
Policies of Union, taxes on sale ,works contract and rihght
to use - manufacture
(Constitutional issues on goods and service taxes), Export,
Import service.
3.2 Customs Law : Export Import
Types of customs duties - classification
of goods - varuation of goods -Declaration-
Import and export procedures - Exemptions prohibited goods_negative goods_
Assessment, refund-limitations- warehousing, exemption
- offences and pe-narues
attachment of properties.
3.3 Central Excise Law r Manufacture
Basic concepts of Centrar Excise - Charge, revy, collection,
manufacture, manufacfurer,
excisable goods - Classification of goods - Transaction value
- Assessmeng advance
rulings - Refund, exemptions - offences and penaltie
Cen Vat Credit Rules 20.4-Background of CENVAT Credit
CENVAT paradigm shift - overview of Cenvat Credit Rures 2004
- MoDVAT to
- inputs and
capital goods - input services - exempted Goods and Exempted
services - offences
and penalties.
3.4 Service Tax
Legislative history -Financ e Act 1994- Concept of service -
Negative list of services
- declared services - point of taxation - varuation of services - pru.u of prorision of
services - Abatement and exemptions - Export of services
- offences and penarties.
3.5 Tax on sales
Basic concepts of vAT - sarient features of TNVAT
Act 2006 - Inputs and capital
goods - Zero rate Tax - Works contract _ Assessment.
Important Definitions - Dealer works contract sale _ business _ goods _
Turnover- Total Turnover _ Taxable Turn over _ Incidence of Tax _
Compoundable tax - Input, Input _ Tax Credit _ assessment.
Important provisions of Central Sales Tax Act,-1956
Paper [V
Tax Litigation
4.L Income Tax Law:
search, seizure -Adjudication -Assessement- Fines and penalties - Demands,
Recovery - Appeals - Revision - Arrears - prosecution - Advance Rulings _
Settlement of cases - Settlement Commission.
4.2 Central Excise Law:
Search, seizure, Adjudication - Assessement - Fines and penalties Demands,
-
Recovery and Arrears - Appears - Arrest, confiscation -Attachment of properties
-
Prosecution - Advance Rulings - settlement of cases - settlement Commission.
4.3 Customs law:
search, seizure - Adjudication - Assessement - Fines and penalties - Demands,
Recovery and Arrears - Appeals - Arrest, Confiscation - Attachment of properties
-
Prosecution - Advance Rulings - Settlement of cases - Settlement Commission.
4.4 Service Tax Law:
search, seizure - Adjudication - Assessement - Fines and penalties - Demands,
Recovery and Arrears - Appears -Arrest, Confiscation - Garnishee proceedings-
Attachment of properties - Prosecution - Advance Rulings settlement of cases.
-
4'5 Alternate dispute resolution and compounding of offences and penality
- Litigation before quasi - Judicial tax authorities - appellate
Forums of litigation
authorities - court - alternative remedy - recent trends in tax litigation _
retrospective amendments - Dispute management - important issue in tax litigation
- ADR in taxes - Tax, disputes, Treaty obligation and Arbitration.
Paper V
International taxation
5.1.Source based approach
source rule vs Resident rure of taxation - destinayion vs origin
method of taxation
authority to tax - relevancy in India - Characterisation of Income-withhording
of
taxes -allocation of deductions-efficency in savings decisions.
5.2 Taxation of Non Residents
Taxation of inbound and outbound expatriates _procedural
compliance such as
PAN, advance tax, self assessment tax
Foreign income - various categories such as royalty, technical
fees, shipping,
aircraft - withholding tax - Treaty shopping -provisions of Income
tax Aci, tgot
relating to deemed accrual, business-efficency in savings
decisions.
Transfer pricing- Internationar transactions - arms rength price
devel0pment in transfer pricing issues- tax havens
- recent
-taxation of foreign direct
investments.
5.3 Double Taxation:
Concept of double taxation - Double taxation avoidance agreement - interpretation
and scope of tax treaties -
permanent estabrishment
- associated enterprise
elimination of double taxation - Mutuar Agreements Tax credit
-
- and refunds -
OECD and UN Model Tax Treaties.
5.4 ]urisdictional Issues:
Choice of Law possibility of harmonization of issues.
Refundable tax credits,technological challenges,concept of permanent
establishment.
5,5 Contemporary Issues
Advance Ruling - Authority for Advance Ruling _
taxability of software income - taxing of e-commerce transactions recent issues
- in
international taxation -efficiency,equ ibrium, tax competition and tax
incentives in
developing countries.
Paper-VI -- State and local body"s Tax in Tamilnadu
6.1-Entry tax
Obiectives and reasons - Entry of Goods in to local area - Importer - Meaning - Goods vehicle -
Scheduled goods - Levy and collection of tax - Reduction of tax - Offence and penalties - Appeal -
Revision.
6.2 The TN Entertainment Tax Act:
A. Historical backgrounds - Objects.
B. Madras Local Authorities Entertainment Tax Act,],926
C. Madras EntertainmentTax Act (Amendment), 1949.
D. Amusement and other Entertainment Tax Act, 1958.
E. Entertainment Tax - Amusement - Cable televisions.
F. Cable Televisions - Antenaa - Direct to home service.
G. Dubbed film - Entertainment - Old film - Levy of Tax on Entertainments - Assessment
- Levy of Tax - Penalty - Cinematograph films - Television Screen - Recovery - Mode
of recovery - Exemption.
6.3 Luxury Tax:
Objectives and reasons - Meaning of Luxury - Hotel - Luxury provided in Hotel
Concessional rate - Scheduled commodity - Tobacco product - Levy and collection of Luxury Tax
- Offences by companies - Reduction in rate of tax - Appeal - Revision.
6.&Motor vehicles taxation andElectricity and consumption tax
T.N Motor Vehicles Txation Act,7974-Levy-tax greentax-roadsafety tax- surcharge
additional tax - payment-recovery- refund- seizure- assessement.
The TN Electricity consumption or saleAct, 2003
Definition of consumer,energy charge-net charge; tax on consumption- assessement - appeal.
6.5 Tax Levied by Local Bodies
Art. 243H and243 Z of fr'r- Constitution of India- floor theory and ceiling theoryHouse
tax-tax on vacant land- tax on agricultural land tax.
Tamilnadu Municipal Laws (Amendement) Act,2009
Tamilnadu Village Panchayat (Assessement and collection of taxes) Rules 199
PAPER VII- (Elective)- Tax on Intellectual Property & E-commerce
7.1 E-COMMERCE
Internet and E-commerce - Income vs. Consumption tax - Destination or origin
principles - - - taxability of e-commerce transactions- taxing cyberspace-destination
and origin principle- e-commerce tax reforms in emerging global economy.
7.2T axing Online Trading
Online trading and taxation - contracts and sale over net -constitutional issues-
commerce in intangibles- taxing software-accounting for websites- service tax on net-
problem in valuation Transfer pricing
7.3 IPR-Basicconcepts:
Patents- Designs, Trademarks, copyrights -,geographical indications-farmers rights,-
traditional knowledge- commercial exploitation of IPR
7.4 IPR - Direct Taxes:
Assignment and licencing-technical know- royalty-fee;Intellectual Property as asset-
depreciation of asset- research and development-cCapital gains- Valuation of
intellectual property- -exemptions- deductions Accounting treatment - tax
deduction at source - Transfer Pricing policy and IPR .
7.5 IPR-Indirect taxes
Ipr and service tax-Ipr and Value added Tax-lPR and Customs -export andimpot of
goods and services-valuation of goods; IPR and Central Excise- goods and services;
Global trend
Paper viii - (Elective)-CORpORATE TAXATION
8.1 computation of income of income
Income from business- definition of business- chargeability- computation-
gross
earnings- determination of expenses, depreciation,( block of assets
acfual cost, written
down value), and admissible allowances- exemptions and deducHons
Capital gains- capital assets (short term capital assets long term capital
assets) basis of
liability-computation-definition of transfer-special provisions for depreciable
assets-
computation-exemptions and deductions
8.2- Aggregation of income and tax incentive
Aggregation of income-ordinary and special sources- total income- special
provisions
for business reorganization- LLP- aggregation of losses Tax incentives- contribution
to
cer tain funds-political con tribu tions- inves tor protection
funds
8.3 Assessemenr
Taxation of non-profit organizations- - taxation of income from venture
capital funds
and companies- tax on dividend dishibuted - tax on income distributed
bv mutual
funds, insurance companies
8.4 Tax Avoidance
Tax avoidance provisions- disallowing expenses- d.etermination of
arms length price-
advance pricing agreements-sale and buy back of securities- anti-avoidance
rules.
S5.Accounting and Authorities
Maintenance of accounts- audit of accounts- reporting international transactionsmethod.s
of accounting- computation of book profits- charge of branch profit tax. 8. Authorities
and powers- search, survey, seizure- assessment- remedies- payment, collection
and
recovery.
