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Tax Practices and Procedures

The document outlines the structure and syllabus of the B.Com (Tax Practices & Procedures) programme offered by the Faculty of Commerce at Osmania University in Hyderabad. It lists the courses offered in each semester across the three years of the programme along with course codes, titles, types and credits.

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276 views43 pages

Tax Practices and Procedures

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

B.Com (Tax Practices and Procedures)

(w.e.f. 2016–2017)

First Year Syllabus (CBCS)

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U p
i t y
s
..

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FACULTY OF COMMERCE, OSMANIA UNIVERSITY
HYDERABAD - 500 007 T.S.

2016

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

DEPARTMENT OF COMMERCE, O.U.

Structure of B.Com ((Tax Practices & Procedures) (CBCS) for Osmania University, Hyderabad.
(w.e.f. Academic Year 2016-17)
B.COM (Tax Practices & Procedures) PROGRAMME

FIRST YEAR:
SEMESTER-I
Sl.No. Code Course Title Course Type HPW Credits
(1) (2) (3) (4) (5) (6)
1. BC101 A/B/C/D AECC-1 2 2
2. BC102 English CC-1A 5 5

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3. BC103 Second Language CC-2A 5 5
4. BC104 Financial Accounting - I DSC-1A 5 5

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5. BC105 Business Economics DSC-2A 5 5
6. BC106 Business Organization DSC-3A 4 4
7. BC107

SEMESTER-II
Information Technology
Total
DSC-4A

d a
3T+2P
31
4
30

8. BC201
9. BC202
10. BC203
11. BC204
A/B/C/D
English
Second Language
Financial Accounting - II
U p
AECC-2
CC-1B
CC-2B
DSC-1B
2
5
5
5
2
5
5
5
12. BC205
13. BC206
14. BC207
Managerial Economics

i
Principles of Management
Foreign Trade
t y DSC-2B
DSC-3B
DSC-4B
5
4
4
5
4
4

SECOND YEAR:
SEMESTER-III
Total

e r s 30 30

v
15. BC301 Principles of Insurance SEC-1 2 2
16. BC302
17. BC303
18. BC304
19. BC305
n i English
Second Language
Advanced Accounting
Income Tax-I
CC-1C
CC-2C
DSC-1C
DSC-2C
5
5
5
5
5
5
5
5

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20. BC306
21. BC307

SEMESTER-IV
Business Statistics-I
Entrepreneurial Development & Business
Ethics
Total
DSC-3C
DSC-4C
4
4

30
4
4

22. BC401 Practice of Life Insurance SEC-2 2 2

23. BC402 English CC -1D 5 5
24. BC403 Second Language CC-2D 5 5
25. BC404 Corporate Accounting DSC-1D 5 5
26. BC405 Income Tax-II DSC-2D 5 5
27. BC406 Business Statistics-II DSC-3D 4 4
28. BC407 Auditing DSC-4D 4 4
Total 30 30

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

THIRD YEAR:
SEMESTER-V
29. BC501 Practice of General Insurance SEC-3 2 2
30. BC502 GE-1 2 2
31. BC503 Cost Accounting DSC-1E 4 4
32. BC504 Business Law DSC-2E 4 4
33. BC505 Banking Theory & Practice DSC-3E 4 4
34. BC506 Computerised Accounting DSC-4E 3T+2P 4
35. BC507 Direct Tax-I DSE-1A 5 5
36. BC508 Indirect Taxes DSE-2A 5 5
Total 31 30
SEMESTER-VI
37. BC601
38. BC602
39. BC603
Regulation of Insurance Business

Managerial Accounting
SEC-4
GE-2
DSC-1F
2
2
4

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2
2
4s
40. BC604
41. BC605
42. BC606
Company Law
Financial Institutions & Markets
Commerce Lab
DSC-2F
DSC-3F
DSC-4F

d
4
4
a
2T+4P
4
4
4
43. BC607
44. BC608
Direct Tax-II
Tax Planning & Management
Total
GRAND TOTAL
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DSE-1B
DSE-2B
5
5
32
184
5
5
30
180

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AECC: Ability Enhancement Compulsory Course; SEC: Skill Enhancement Course; DSC: Discipline

i
Specific Course; DSE: Discipline Specific Elective; GE: Generic Elective; T=Theory; P=Practicals;

Sl. No.
1
Course Category
AECC

e r s
SUMMARY OF CREDITS
No. of Courses
2
Credits Per Course
2
Credits
4
2
3

4
SEC
CC

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DSC

DSE
i v Language
4
8
8
16
4
2
5
5
4
5
8
40
40
64
20

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5 GE
TOTAL
Commerce Total
2
44
28
2 4
180
124

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

SYLLABUS

Paper : (BC 104) : FINANCIAL ACCOUNTING - I

Paper: BC104 Max. Marks: 50
THPW: 5 Hrs Exam Duration: 3 Hrs
Credits : 5
Objective: to acquire conceptual knowledge of basics of accounting and preparation of final
accounts of sole trader.
UNIT-I: ACCOUNTING PROCESS:
Financial Accounting: Introduction – Definition – Evolution – Functions-Advantages and
Limitations –Users of Accounting Information- Branches of Accounting – Accounting Principles:

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Concepts and Conventions- Accounting Standards– Meaning – Importance – List of Accounting
Standards issued by ASB -– Accounting System- Types of Accounts – Accounting Cycle- Journal-

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Ledger and Trial Balance. (Including problems)

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UNIT-II: SUBSIDIARY BOOKS:
Meaning –Types - Purchases Book - Purchases Returns Book - Sales Book - - Sales Returns Book -

Column and Petty Cash Book - Journal Proper.(Including problems)

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Bills Receivable Book - Bills Payable Book – Cash Book - Single Column, Two Column, Three

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UNIT-III: BANK RECONCILIATION STATEMENT:
Meaning – Need - Reasons for differences between cash book and pass book balances –Favourable
and over draft balances – Ascertainment of correct cash book balance (Amended Cash Book) -

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Preparation of Bank Reconciliation Statement. (Including problems)

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UNIT-IV: RECTIFICATION OF ERRORS AND DEPRECIATION:

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Capital and Revenue Expenditure – Capital and Revenue Receipts: Meaning and Differences -

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Differed Revenue Expenditure. Errors and their Rectification: Types of Errors - Suspense Account

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– Effect of Errors on Profit. (Including problems)

v
Depreciation (AS-6): Meaning – Causes – Difference between Depreciation, Amortization and

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Depletion - Objectives of providing for depreciation – Factors affecting depreciation – Accounting
Treatment – Methods of depreciation: Straight Line Method - Diminishing Balance Method

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(Including problems)

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UNIT-V: FINAL ACCOUNTS:
Final Accounts of Sole Trader: Meaning -Uses -Preparation of Manufacturing, Trading and Profit &
Loss Account and Balance Sheet – Adjustments – Closing Entries.(Including problems)

SUGGESTED READINGS:
1. Accountancy-I: Haneef and Mukherjee, Tata McGraw Hill Company.
2. Principles & Practice of Accounting: R.L.Gupta&V.K.Gupta, Sultan Chand.
3. Accountancy-I: S.P. Jain & K.L Narang, Kalyani Publishers.
4. Accountancy–I: Tulasian, Tata McGraw Hill Co.
5. Introduction to Accountancy: T.S.Grewal, S.Chand and Co.
6. Advanced Accountancy-I: S.N.Maheshwari& V.L.Maheswari, Vikas.
7. Fundamentals of Financial Accounting: Deepak Sehgil, Tax Mann Publication.
8. Financial Accounting: Jawahar Lal, Himalaya Publishing House.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 105) : BUSINESS ECONOMICS

Paper: BC105 Max. Marks: 50

THPW: 5 Hrs Exam Duration: 3Hrs
Credits : 5

Objective:toacquire knowledge for application of economic principles and tools in business

practices.

UNIT-I: INTRODUCTION:
Business Economics: Meaning - Nature – Characteristics - Importance and Role - Micro & Macro
Economics - Scope - Objectives - Law of Diminishing marginal utility - Law of Equi-marginal
utility.

UNIT- II: DEMAND ANALYSIS:

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Meaning – Function - Factors influencing Demand -Types of Demand -Demand Curve - Law of s
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Demand –Exceptions to the law of demand-Elasticity of Demand: Concept - Types of elasticity of
demand-price, income and cross Elasticity of Demand –measurement of elasticity—arc and point
methods—Importance of various Elasticity of Demand

UNIT-III: SUPPLY ANALYSIS:

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Law of Supply - Factors influencing Supply - Market Equilibrium- Consumer Surplus - Theory of
Consumer behavior - Utility and indifference curve analysis.

UNIT–IV: PRODUCTION ANALYSIS:

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Concept of Production –production function-Total Production - Marginal Production - Average

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Production –returns to a factor- Law of Variable Proportions - Law of Returns to Scale - Isocost –

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Isoquants - Economies and Dis-economies of Scale.

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UNIT-V: COST AND REVENUEANALYSIS:

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Theory of Cost - Concepts of Cost - Short run and Long run cost curves - Traditional and Modern
Approaches -Revenue Curves–relationship between total marginal and average revenues- --Break

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Even Analysis—Meaning – Assumptions – Uses and Limitations.

1.
2.
3.
4.
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SUGGESTED READINGS:

Business Economics: V. G. Mankar, Himalaya Publishing House

Managerial Economics: Vanith Agrawal, Pearson Education
Business Economics: H. L. Ahuja, S. Chand & Co. Ltd.
Business Economics : R. K. Lekhi, Kalyani Publishers
5. Business Economics: D. M. Mithani, Himalaya Publishing House
6. Business Economics: P. N. Chopra, Kalyani Publishers
7. Essential of Business Economics: D. N. Dwivedi, Vikas Publishers
8. Managerial Economics: Varshney and Maheswari, Sultan Chand
9. Business Economics: P. K. Mehta, Tax Mann Publication.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 106) : BUSINESS ORGANISATION

Paper: BC106 Max. Marks: 50
THPW: 4 Hrs Exam Duration: 3Hrs
Credits : 4
Objective: To acquaint the students with the basics of Commerce and Business concepts and
functions and forms of Business Organization
UNIT-1: FUNDAMENTAL CONCEPTS:
Concepts of Business, Trade, Industry and Commerce - Classification - Relationship between
Trade. Industry and Commerce - Nature of Business - Objectives of Business – Functions of
Business- Social Responsibility of a business - Steps to Start an Enterprise

UNIT-II: BUSINESS ORGANIZATION:

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Forms of Business Organization - Classification - Factors Influencing the Choice of Suitable Form of
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Organization - Sole Proprietorship – Meaning, Definition - Characteristics - Advantages and Disadvantages -
Suitability of Sole Proprietorship - Partnership -Kinds of Partners - - Partnership Deed –- Meaning –

a
Contents - Registration of Partnership Advantages and Disadvantages of Partnership - Suitability of
Partnership - Limited liability partnership – Hindu Undivided Family - Meaning - Characteristics

d
- Advantages and Disadvantages - Co-Operative Organization – Characteristics -Types of Co-Operative

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Societies - Limitations of Cooperatives.

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UNIT-III: FORMATION OF JOINT STOCK COMPANY:
Joint Stock Company - Meaning - Definition - Characteristics - Advantages and Disadvantages -

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Kinds of Companies -Promotion - Stages of Promotion - Promoter - Characteristics - Kinds -

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Preparation of Important Documents - Memorandum of Association - Clauses - Articles of

Prospectus.

UNIT-IV: SOURCES OF FINANCE:

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Association - Contents – Prospectus - Contents – Red herring Prospectus- Statement in lieu of

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Industrial Finance - Long Term and Short Term Finance - Fixed and Working Capital Finance -

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Sources of Corporate Finance ( A brief introduction to Shares and Debentures, Retained Earnings,

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Underwriting, Inter Company Investments and Venture Capital, Angel Investors, lease, hire purchase,

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franchising) .

UNIT V: STOCK EXCHANGE AND MUTUAL FUNDS:

1.
2.
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Stock Exchange, Functions — Working of Stock Exchanges, Mutual Funds –Importance,
Functions, Types — Role of SEBI in Regulating Stock Exchanges and Mutual Funds in India

SUGGESTED READINGS:
Business Organization & Management: Sharma Shashi K. Gupta, Kalyani Publishers
Business Organization: Sharma Shashi K. Gupta, Kalyani publishers.
3. Organization & Management: R. D. Agarwal, McGraw Hill.
4. Modern Business Organization: S.A. Sherlekar, V.S. Sherlekar, Himalaya Publishing House
5. Business Organization & Management: C.R. Basu, Tata McGraw Hill
6. Business Organization & Management: R. N. Gupta, S. Chand,
7. Organizational Behaviour Text & Cases: V.S.P. Rao, Himalaya Publishing House
8. Business Organization & Management: Uma Shekaram, Tata McGraw Hill
9. Business Organization & Management: Niranjan Reddy & Surya Prakash, Vaagdevi publishers.
10. Business Organisation and Management, Dr. Neeru Vasihth, Tax Mann Publications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 107) : INFORMATION TECHNOLOGY

Paper: BC 107 Max. Marks: 35T + 15P
THPW: 5 (3T & 2P) Time: 3 Hrs.
Credits : 4
Objective: to acquire basic knowledge in Information Technology and its applications in the areas of
business.

UNIT-I: INTRODUCTION:
Introduction to computers - Generations of computers – An overview of computer system - Types of
computers - Input & Output Devices.
Hardware: Basic components of a computer system - Control unit – ALU - Input/output functions - Memory
– RAM – ROM – EPROM - PROM and Other types of memory.

UNIT-II: OPERATING SYSTEM (OS):

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Meaning - Definition & Functions - Types of OS - Booting process - DOS – Commands (internal & external)
- Wild card characters – Virus & Hackers – Cryptography & cryptology. s
a
Windows: Using the Start Menu –Control Panel – Using multiple windows – Customizing the Desktop –
Windows accessories (Preferably latest version of windows or Linux Ubuntu).

UNIT-III: WORD PROCESSING:

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Application of word processing - Menus & Tool Bars - Word processor – Creating – Entering - Saving &
printing the document - Editing & Formatting Text - Mail Merge and Macros (Preferably latest version of
MS Word or Libre Office Writer).

UNIT-IV: SPREAD SHEET:

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t
Application of work sheet/spread sheet - Menus & Tool bars - Creating a worksheet - Entering and editing of

i
numbers - Cell reference - Worksheet to analyze data with graphs & Charts.

s
Advanced tools: Functions – Formulae – Formatting numbers - Macros – Sorting - Filtering - Validation &

r
Consolidation of Data (Preferably latest version of MS Excel or Libre Office Calc).

UNIT-V: POWER POINT PRESENTATION:

v e
Application of Power Point Presentation – Menus & Tool bars – Creating presentations – Adding - Editing

i
and deleting slides - Templates and manually – Slide show – Saving - Opening and closing a Presentation –
Types of slides - Slide Views - Formatting – Insertion of Objects and Charts in slides - Custom Animation

SUGGESTED READINGS:
1.
2.
n
and Transition (Preferably latest version of MS Power Point presentation - Libre Office Impress).
Internet & Browsing: Services available on internet – WWW – ISP – Browsers.

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Multimedia: Application of multimedia – Images – Graphics - Audio and Video – IT security.

Introduction to Computers: Peter Norton, McGraw Hill.

Fundamentals of Information Technology: Dr. NVN Chary, Kalyani Publishers.
3. Computer Fundamental: Anitha Goel, Pearson.
4. Information Technology Applications for Business: Dr. S. Sudalaimuthu, Himalaya
5. Introduction to Information Technology: ITL ESL, Pearson.
6. Introduction to Information Technology: V. Rajaraman, PHI.
7. Fundamental of Computers: Balaguruswamy, McGraw Hill.
8. PC Software under Windows: Puneet Kumar, Kalyani Publishers.
9. Information Technology and C language: Rajiv Khanna, New Age International.
10. Fundamentals of Information Technology: Alexis Leon, Vikas Publishing House.
11. Informational Technology: P. Mohan, Himalaya Publishing House.
12. Information Technology: R. Renuka, Vaagdevi Publishers.
13. OS-Linux Spoken Tutorials & Libre Office Spoken Tutorials by IIT Bombay.
14. Fundamentals of Information Technology: Rajiv Midha, Tax Mann Publications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 204) : FINANCIAL ACCOUNTING-II

Paper: BC204 Max. Marks: 50

THPW: 5Hrs Exam Duration: 3 Hrs
Credits : 5

Objective: to acquire accounting knowledge of bills of exchange and other business accounting
methods.

UNIT-I: BILLS OF EXCHANGE:

Bills of Exchange - Definition- Distinction between Promissory note and Bills of exchange-
Accounting treatment of Trade bills: Books of Drawer and Acceptor- Honour and Dishonour of

UNIT-II: CONSIGNMENT ACCOUNTS:

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Bills- Renewal of bills- Retiring of bills under rebate- Accommodation bills.(Including problems)

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Consignment – Meaning – Features– Proforma invoice - Account sales – Del crederecommission-
Accounting treatment in the books of the consignor and the consignee - Valuation of consignment
stock –Treatment of Normal and abnormal Loss - Invoice of goods at a price higher than the cost
price. (Including problems)

UNIT-III: JOINT VENTURE ACCOUNTS:

U p
y
Joint Venture – Meaning –Features-Difference between Joint Venture and Consignment-

t
Accounting Procedure-Methods of Keeping Records for Joint Venture Accounts-Method of

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Recording in co-ventures books-Separate Set of Books Method- Joint Bank Account-Memorandum

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Joint Venture Account (Including problems)

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UNIT-IV: ACCOUNTS FROM INCOMPLETE RECORDS:
Single Entry System – Meaning -Features–Difference between Single Entry and Double Entry

i v
systems -Defects in Single Entry System - Books and accounts maintained - Ascertainment of Profit
- Statement of Affairs and Conversion method (Including problems)

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UNIT-V: ACCOUNTING FOR NON-PROFIT ORGANIZATIONS:

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Non- Profit Organziation – Meaning – Features – Receipts and Payments Account – Income and
Expenditure Account – Balance Sheet(Including problems)

SUGGESTED READINGS:
1. Accountancy-I: Haneef and Mukherjee, Tata McGraw Hill Co.
2.Principles and Practice of Accounting: R.L. Gupta & V.K. Gupta,Sultan Chand & Sons.
3. Accountancy–I: Tulasian, Tata McGraw Hill Co.
4. Accountancy–I: S.P. Jain & K.L Narang, Kalyani.
5. Advanced Accountancy-I: S.N.Maheshwari&V.L.Maheswari, Vikas.
6. Advanced Accountancy: M Shrinivas& K Sreelatha Reddy, Himalaya Publishers.
7. Financial Accounting: M.N Arora, Tax Mann Publications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 205) : MANAGERIAL ECONOMICS

Paper: BC205 Max. Marks: 50

THPW: 5 Hrs Exam Duration: 3Hrs
Credits : 5

Objective:to impart conceptual and practical knowledge of managerial economics.

UNIT-I: NATURE AND SCOPE OF MANAGERIAL ECONOMICS:

Characteristics of managerial economics – Nature and scope of managerial economics -Importance
of managerial economics- Basic economic tools in managerial economics- managerial economist
role and responsibility

UNIT-II: DEMAND FORECASTING:

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Demand estimations for major consumer durables and non-durable products – Demand forecasting
techniques: Statistical and Non-Statistical techniques. s
UNIT–III: MARKET ANALYSIS:

d a
Definition of market – Market structure (Perfect competition, Imperfect competition) – Price

duopoly

UNIT-IV: MACRO-ECONOMICS FOR MANAGERS:

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determination -Firms equilibrium in perfect competition, monopoly, monopolistic, oligopoly and

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National income – Concepts – Methods - Measurement of national income – GDP and GVA—

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Business cycles- nature –Phases – Causes—Inflation - Causes and control – Deflation and
stagflation.

i
e r
UNIT-V: FISCAL AND MONETARY POLICY
s
Fiscal Policy- deficits-budgetary deficit-primary deficit-revenue deficit-fiscal deficit-Objectives of
FRBM Act - Monetary Policy- Objectives – Repo Rate- Reverse Repo Rate- CRR- SLR- Finance

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SUGGESTED READINGS: v
Commission- role and objectives

1. Managerial Economics: Craig H Peterson and Jain, Pearson education

U
2. Managerial Economics: Gupta, Tata McGraw Hill
3. Managerial Economics: Maheshwari and Gupta, Sultan Chand & Sons
4. Managerial Economics: Dr. P.C. Thomas, Kalyani Publishers
5. Managerial Economics: H.L. Ahuja, S. Chand and Company
6. Managerial Economics: Mithani, Himalaya Publications
7. Managerial Economics: R.L. Varshney and K.L. M Maheshwari, Sultan Chand
8. Managerial Economics: P. Venkataiah and Surya Prakash, Vaagdevi Publishers
9. Managerial Economics: P.L. Mehta, Tata McGraw Hill
10. Managerial Economics: R.N. Chopra, Kalyani Publishers
11. Managerial Economics: D.N. Dwivedi, Vikas Publishers
12. Managerial Economics: Thomas, Maurice, Sarkar, Tata McGraw Hill
13. Managerial Economics: YogeshMaheshwari, PHI Learning Pvt. Limited
14. Managerial Economics: P.K. Mehta, Tax Mann Pulications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 206) : PRINCIPLES OF MANAGEMENT

Paper: BC206 Max. Marks: 50
THPW: 4 Hrs Exam Duration: 3Hrs
Credits : 4

Objective: To acquaint the students with the Principles, functions and practices of management
UNIT-I: INTRODUCTION
Management - Meaning - Characteristics - Administration Vs Management - Scope of
Management - Importance of Management - Functions of Management - Levels of Management - Skills
of Management -- Leader Vs. Manager - Scientific Management - Meaning - Definition - Objectives -
Criticism – Fayol’s 14 Principles of Management .

UNIT-II: PLANNING
Meaning - Definition - Characteristics - Types of Plans - Advantages and Disadvantages –

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Approaches to Planning - Management by Objectives (MBO) - Steps in MBO - Benefits -Weaknessess
UNIT-III: ORGANIZING:

d a
Organizing-Meaning, Definition – Organization Meaning, Definition - Process of Organizing -

p
Principles of Organization - Types of Organization - Formal and Informal Organizations - Line, Staff
Organizations - Line and Staff Conflicts - Functional Organization - - Span of Management - Meaning

U
- Determining Span - Factors influencing the Span of Supervision

UNIT-IV: DELEGATION AND DECENTRALIZATION:

i t y
Authority – Meaning - Delegation - Definition - Characteristics: - Elements - Principles, Types of

s
Delegation - Importance of Delegation: - Factors Influencing Degree of Delegation - Barriers -
Guidelines for Making Delegation Effective - Centralization - Meaning – Decentralization- Meaning -

r
Difference between Delegation and Decentralization.

e
v
UNIT-V: COORDINATION AND CONTROL:

i
Meaning - Definition - Principles of Coordination – Importance- Process of Coordination-techniques of
Effective Coordination - Control - Meaning - Definition – relationship between planning and control-

n
Steps in Control – Types (post, current and pre-control) - Requirements for effective control.

U
SUGGESTED READINGS:
1. Principles and Practice of Management: R. S. Gupta, B. D. Sharma, W.S. Bhalla,
2. Management: Stephen P. Robbins, Person
3. Principles of Management: T Ramasamy, Himalaya Publication
4. Principles of Management Concept: Rajeshviwanathan, Himalaya Publication
Kaylani

5. Management Theory and Practices: P Subba Rao, Himalaya Publishing House

6. Essential of Management: Harold Kontz, McGraw Education
7. Principles of Management, Chandan JS, Vikas Publishers.
8. Fundamentals of Management, Dr. Pradeep Kumar, S. Chand
9. Principles of Management: Neeru Vasishth, Tax Mann Pulications

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 207) : FOREIGN TRADE

Paper: BC 207 Max. Marks: 50

THPW: 4 Hrs Exam Duration: 3Hrs
Credits : 4

Objective: to gain knowledge of India’s foreign trade procedures policies, and international institutions.

UNIT-I: INTRODUCTION:
Foreign Trade: Meaning and Definition - Types – Documents used-Commercial Invoice – Bills of
Lading / Airway Bill – Marine Insurance Policy and Certificate – Bills of Exchange – Consumer
Invoice – Customs Invoice – Certificate of Origin – Inspection Certificate – Packing List.

UNIT-II: BALANCE OF TRADE AND BALANCE OF PAYMENTS:

Introduction – Meaning - Components of BOT & BOP - Concept of Disequilibrium – Causes -
Remedies for Correcting Balance of Payments in International Trade.

te s
UNIT-III: INDIAN TRADE POLICY:
Importance and its Implementation – Current Export Policy and Import Policy.

d a
UNIT-IV: FOREIGN TRADE AND TRADE BLOCS:

U p
Growth - Significance of Foreign Trade – Merits - Demerits – Trade Blocs : Types – Preferential
Trade Area, Free Trade Area, Customs Unions, Common Markets, Economic Unions, Monetary

UNIT-V: INTERNATIONAL ECONOMIC INSTITUTIONS:

i t y
Unions, Customs and Monetary Unions, and Economic and Monetary Unions.

s
IMF: Objectives - Functions - World Bank: Objectives – Functions - Subsidiaries of World Bank –

r
IMF Vs. IBRD; New Development Bank (NDB) – Objective Functions – Features – Membership –
Shareholding, Criticism, Asian Infrastructure Investment Bank (AIIB) – Objective Functions –

e
Features – Membership – Shareholding, Criticism; Trans-Pacific Partnership (TPP) - Objective

v
Functions – Features – Membership – Shareholding, Criticism; UNCTAD: Aims – Features; WTO -

i
Aims - Features – Agreements.

n
SUGGESTED READINGS:

1.
2.
3.
4.
5.
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International Marketing: Rathore & Jain, Himalaya Publishers.
International Marketing: Kushpat S. Jain & Rimi Mitra, Himalaya Publishers
International Economics: SSM Desai & Nirmal Bhalerao, Himalaya Publishers.
International Business Environment & Foreign Exchange Economies: Singh & S. Srivastava,
Foreign Trade and Foreign Exchange: O.P Agarwal & B.K. Chaudri, Himalaya Publishers
6. International Financial Markets & Foreign Exchange: Shashi.K.Gupta & Praneet Rangi, Kalyani
7. International Economics: Theory & Practice: Paul R. Krugman, Pearson Publishers.

***********

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

B.Com (Tax Practices and Procedures)

(w.e.f. 2016–2017)

Second Year Syllabus (CBCS)

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FACULTY OF COMMERCE, OSMANIA UNIVERSITY

U HYDERABAD - 500 007 T.S.

2017

DEPARTMENT OF COMMERCE, O.U.

Structure of B.Com ((Tax Practices & Procedures) (CBCS) for Osmania University, Hyderabad.
(w.e.f. Academic Year 2016-17)

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

DEPARTMENT OF COMMERCE, O.U.

Structure of B.Com ((Tax Practices & Procedures) (CBCS) for Osmania University, Hyderabad.
(w.e.f. Academic Year 2016-17)
B.COM (Tax Practices & Procedures) PROGRAMME
FIRST YEAR:
SEMESTER-I
Sl.No. Code Course Title Course Type HPW Credits
(1) (2) (3) (4) (5) (6)
1. BC101 A/B/C/D AECC-1 2 2
2. BC102 English CC-1A 5 5
3. BC103 Second Language CC-2A 5 5
4. BC104
5. BC105
6. BC106
Financial Accounting - I
Business Economics
Business Organization
DSC-1A
DSC-2A
DSC-3A
5
5
4

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5
4

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7. BC107 Information Technology DSC-4A 3T+2P 4
Total 31 30
SEMESTER-II
8. BC201
9. BC202
A/B/C/D
English
p
AECC-2
CC-1B d
2
5
2
5

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10. BC203 Second Language CC-2B 5 5
11. BC204 Financial Accounting - II DSC-1B 5 5

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12. BC205 Managerial Economics DSC-2B 5 5
13. BC206
14. BC207 Foreign Trade
Total

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Principles of Management DSC-3B
DSC-4B
4
4
30
4
4
30

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SECOND YEAR:

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SEMESTER-III
15. BC301 Principles of Insurance SEC-1 2 2
16. BC302
17. BC303
18. BC304
19. BC305
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Second Language
Advanced Accounting
Income Tax-I
CC-1C
CC-2C
DSC-1C
DSC-2C
5
5
5
5
5
5
5
5

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20. BC306
21. BC307

SEMESTER-IV
22. BC401
Business Statistics-I
Entrepreneurial Development & Business
Ethics
Total

Practice of Life Insurance

DSC-3C
DSC-4C

SEC-2
4
4

2
4
4

2
23. BC402 English CC -1D 5 5
24. BC403 Second Language CC-2D 5 5
25. BC404 Corporate Accounting DSC-1D 5 5
26. BC405 Income Tax-II DSC-2D 5 5
27. BC406 Business Statistics-II DSC-3D 4 4
28. BC407 Auditing DSC-4D 4 4
Total 30 30
2

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Managerial Accounting
SEC-4
GE-2
DSC-1F
2
2
4

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2
4

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40. BC604 Company Law DSC-2F 4 4
41. BC605 Financial Institutions & Markets DSC-3F 4 4
42. BC606
43. BC607
44. BC608
Commerce Lab
Direct Tax-II
Tax Planning & Management
DSC-4F

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DSE-1B
DSE-2B d 2T+4P
5
5
4
5
5

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Total 32 30
GRAND TOTAL 184 180

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AECC: Ability Enhancement Compulsory Course; SEC: Skill Enhancement Course; DSC: Discipline
Specific Course; DSE: Discipline Specific Elective; GE: Generic Elective; T=Theory; P=Practicals;

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Sl. No.
1
Course Category
AECC

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SUMMARY OF CREDITS
No. of Courses
2
Credits Per Course
2
Credits
4

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2 SEC 4 2 8

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3 CC Language 8 5 40
DSC 8 5 40

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4
5 nDSE
GE
TOTAL
Commerce Total
16
4
2
44
28
4
5
2
64
20
4
180
124

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 304) : ADVANCED ACCOUNTING

Paper: BC 304 Max. Marks: 100

PPW: 5 Hrs Exam Duration: 3 Hrs
Credits : 5
Objective: to acquire accounting knowledge of partnership firms and joint stock companies

UNIT-I: PARTNERSHIP ACCOUNTS-I:

Meaning – Partnership Deed - Capital Accounts (Fixed and Fluctuating) – Admission of a
Partner – Retirement and Death of a Partner (Excluding Joint Life Policy)(Including problems)

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UNIT-II: PARTNERSHIP ACCOUNTS–II:
Dissolution of Partnership – Insolvency of a Partner (excluding Insolvency of all partners) – Sale

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to a Company(Including problems)

UNIT-III: ISSUE OF SHARES, DEBENTURES, UNDERWRITING AND BONUS

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Issue of Shares at par, premium and discount - Prorata allotment – Forfeiture and Re-issue of

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Shares – Issue of Debentures with Conditions of Redemption – Underwriting:Meaning –
Conditions- Bonus Shares: Meaning – SEBI Guidelines for Issue of Bonus Shares – Accounting
of Bonus Shares(Including problems)

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UNIT-IV: COMPANY FINAL ACCOUNTS AND PROFIT PRIOR TO

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INCORPORATION:

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Companies Act 2013: Structure – General Instructions for preparation of Balance Sheet and

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Statement of Profit and Loss – Part-I: Form of Balance Sheet – Part-II: Statement of Profit and
Loss – Preparation of Final Accounts of Companies - Profits Prior to Incorporation- Accounting

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treatment. (Including problems)

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UNIT-V: VALUATION OF GOODWILL AND SHARES:

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Valuation of Goodwill: Need – Methods: Average Profits,Super Profits and Capitalization

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Methods -Valuation of Shares: Need –Net Assets, Yield and Fair Value Methods. (Including
problems)

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SUGGESTED READINGS:
1. Principles and Practice of Accounting: R.L. Gupta & V.K. Gupta,Sultan Chand & Sons.
2. Advanced Accountancy: Shukla and Grewal, S.Chand & Co.
3. Advanced Accountancy: R.L.Gupta&Radhaswamy, Sultan Chand & Sons.
4. Advanced Accountancy (Vol-II): S.N.Maheshwari&V.L.Maheswari, Vikas.
5. Accountancy–III: Tulasian, Tata McGraw Hill Co.
6. Advanced Accountancy: Arulanandam; Himalaya.
7. Accountancy–III: S.P. Jain & K.L Narang, Kalyani Publishers.
8. Guidance Note on the Revised Schedule VI to the Companies Act, 1956, The Institute of
Chartered Accounts of India.
9. Advanced Accounting (IPCC): D. G. Sharma, Tax Mann Publications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 305) : INCOME TAX – I

Paper: BC 305 Max. Marks: 100
PPW: 5 Hrs Exam Duration: 3Hrs
Credits : 5
Objective: to acquire conceptual and legal knowledge about Income Tax provisions relating to
computation of Income from different heads with reference to an Individual Assessee.
UNIT–I: INTRODUCTION:
Direct and Indirect Taxes – Canons of Taxation - Features and History of Income Tax in India –
Definitions and Basic Concepts of Income Tax: Assessee – Deemed Assessee – Assessee-in-
default – Assessment Year – Previous Year - Income Tax general rule and Exemptions to the
Rule– Person – Income – Gross Total Income – Total Income –– Incomes Exempt from Tax.
Residential Status and Scope of Total Income: Meaning of Residential Status – Conditions
applicable to an Individual Assessee – Incidence of Tax – Types of Incomes – Problems on
computation of Total Income of an Individual based on Residential Status.

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UNIT-II: AGRICULTURAL INCOME:

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Introduction – Definition – Tests to determine Agricultural Income – Partly Agricultural and

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partly Non-Agricultural Income – Integration: conditions – provisions – computation of Tax on

UNIT–III: INCOME FROM SALARIES:

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Integration process. Heads of income: Gross Total Income – Taxable Income – Income Tax
Rates.

Definition of ‘Salary’ – Characteristics of Salary – Computation of Salary Income: Salary u/s

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17(1) – Annual Accretion – Allowances – Perquisites – Profits in lieu of Salary – Deductions u/s.
16 – Problems on computation of Income from Salary.

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UNIT–IV: INCOME FROM HOUSE PROPERTY:

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Definition of ‘House Property’ – Exempted House Property incomes– Annual Value –

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Determination of Annual Value for Let-out House and Self-occupied House – Deductions u/s.24
– Problems on computation of Income from House Property.

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UNIT–V: PROFITS AND GAINS OF BUSINESS OR PROFESSION:
Definition of ‘Business and Profession’ – Procedure for computation of Income from Business –
Rules – Revenue and Capital nature of Incomes and Expenses – Allowable Expenses u/s. 30 to
37 – Expenses expressly disallowed – Deemed Profits – Valuation of Stock – Miscellaneous

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provisions u/s 44. Depreciation: Meaning – Conditions for charge of depreciation – Assets used
for Business – Block of Assets – Rates of Depreciation – Miscellaneous Provisions about
depreciation – Computation of Depreciation –problems on computation of Income from
Business. Income from Profession: Rules– procedure – problems on computation of Income
from Profession.

SUGGESTED READINGS:
1. Income Tax Law and Practice: V.P. Gaur & D.B Narang, Kalyani Publishers.
2. Direct Taxes Law & Practice: Dr. Vinod K. Singhania & Dr. Kapil Singhania, Taxmann
3. Income Tax: B.B. Lal, Pearson Education.
4. Taxation: R.G. Saha, Himalaya Publishing House Pvt. Ltd.
5. Income Tax: Johar, McGrawHill Education.
6. Taxation Law and Practice: Balachandran & Thothadri, PHI Learning.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 306) : BUSINESS STATISTICS-I

Paper: BC 306 Max. Marks: 100

PPW: 4Hrs Exam Duration: 3hrs
Credits : 4
Objective :to inculcate analytical and computational ability among the students.

UNIT-I: INTRODUCTION:
Origin and Development of Statistics – Definition - Importance and Scope - Limitations of
Statistics - Distrust of Statistics. Statistical Investigation: Planning of statistical investigation -
Census and Sampling methods - Collection of primary and secondary data - Statistical errors and
approximation - classification and Tabulation of data - Frequency distribution.

UNIT – II: DIAGRAMMATIC AND GRAPHIC PRESENTATION:

Diagrammatic presentation: One Dimensional and Two Dimensional Diagrams – Pictograms –
Cartograms Graphic presentation: Technique of Construction of Graphs - Graphs of Frequency
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Distribution - Graphs of Time Series or Histograms.

UNIT-III: MEASURES OF CENTRAL TENDENCY:

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Introduction –Significance -Arithmetic Mean- Geometric Mean - Harmonic Mean - Mode –
Median - Quartiles and Percentiles - Simple and Weighted Averages - Uses and Limitations of
different Averages.

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UNIT-IV: MEASURES OF DISPERSION, SKEWNESS AND KURTOSIS:

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Measures of Dispersion: Significance - Characteristics - Absolute and Relative Measures - Range

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- Quartile Deviation - Mean Deviation- Standard Deviation - Coefficient of Variation. Measures

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of Skewness - Karl Pearson’s Coefficient of Skewness - Bowley’s Coefficient of Skewness -
Kelly’s Measure of Skewness – Kurtosis: Mesokurtosis, Platy kurtosis and Leptokurtosis.

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UNIT-V: CORRELATION:

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Meaning -Types - Correlation and Causation – Methods: Scatter Diagram - Karl Person's

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Coefficient of Correlation - Probable Error and Interpretation of Coefficient of Correlation -
Rank Correlation - Concurrent Deviation Method.

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SUGGESTED READINGS:

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1. Statistics for Management: Levin & Rubin, Pearson
2. Fundamentals of Statistics: Gupta S.C, Himalaya
3. Statistics: E. Narayanan Nadar, PHI Learning
4. Business Statistics: Dr. J. K. Thukral, Taxmann Publications
5. Business Statistics: K. Alagar, Tata McGraw Hill
6. Fundamentals of Statistical: S. P Gupta, Sultan Chand
7. Business Statistics: J. K. Sharma, Vikas Publishers
8. Business Statistics: S. L Aggarwal, S. L. Bhardwaj, Kalyani Publications
9. Statistics-Problems and Solutions: Kapoor V.K, S. Chand
10. Statistics - Theory, Methods and Applications: Sancheti D.C. & Kapoor V.K
11. Business Statistics: S. K. Chakravarty, New Age International Publishers
12. Statistics: Andasn,Sweenly,Williams,Cingage.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 307) ENTREPRENEURAL DEVELOPMENT & BUSINESS ETHICS

Paper: BC 307 Max. Marks: 100

PPW: 4 Hrs Exam Duration: 3Hrs
Credits : 4
Objective :to have exposure to the entrepreneurial culture, development and business ethics to set up and
manage small units.

UNIT–I: INTRODUCTION:
Entrepreneur: Evolution-Concept - Functions - Characteristics – Importance of Entrepreneur– Types of
Entrepreneurs - Entrepreneurship-Entrepreneurial Competencies-Women Entrepreneurs in India –

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Opportunities & Challenges-Entrepreneurship today.

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UNIT–II: ENTREPRENEURIAL DEVELOPMENT:
Entrepreneurial opportunities in India-Environment Scanning– Idea Generation – Transformation of Ideas
into Opportunities - Idea & opportunity assessment – Market assessment – Trend spotting – Creativity
&Innovation – Innovative process – Selection of the right opportunity.

UNIT–III: PROJECT AND MSMEs:

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Project: Concept -Classification - Identification - Formulation – Design - Planning and Appraisal
- Social Cost-Benefit Analysis – Budget and Planning Financial Analysis &Project Financing -
MSME – Government Policy and Support.

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UNIT–IV: ENTTREPRENEURALDEVELOPMENT POLICIES AND PROGRAMMES:

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Entrepreneurship Development Programmes – Policies of the Government – Institutions for

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Entrepreneurship Development Training (EDIs) in India: CED, MDI, EDII, IED, NIESBUD,

Financial Institutions and Banks.

UNIT–V:BUSINESS ETHICS:
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EMC, STEPs, XISS, SIDO, SISIs - Role of Consultancy Organizations: IDCs, TCOs – Role of

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Concept of Business Ethics-Moral Values-Utilitarianism and Universalism -Business Standards
and Values - Concept of Corporate Social Responsibility

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SUGGESTED READINGS:

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1. Entrepreneurship Development: A.Shankaraiah et al, KalyaniPublishers.
2. Fundamentals of Entrepreneurship: K.K. Patra, Himalaya Publishing House.
3. Entrepreneurship Development:Dr.S.S.Khanka, S.Chand.
4. Entrepreneurship Development: V.Gangadhar et al, Kalyani Publishers.
5. Entrepreneurship Development & Small Business Enterprises: Poornima Charantimath, Pearson.
6. Entrepreneurship: Robert D. Hisrich, McGraw Hill
7. Entrepreneurship: Arya Kumar, Pearson
8. The Dynamics of Entrepreneurial Development & Management: Vasanth Desai, Himalaya
9. Business Ethics: Chandra Kumar Roy, Prabhat Kumar Roy, Vikas Publishing House Ltd.
10. Business Ethics: Sanjeev K. Bansal, Kalyani Publishers.
11. Entrepreneurial Development and Business Ethics : Prof.Sarma V.S.Veluri, Prof.M.Yadagiri,
Dr.Surender Gade,Sarita Madipelli

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 401) : PRACTICE OF LIFE INSURANCE

Paper: BC 401 Max. Marks: 100
PPW: 2 Hrs; Credits : 2 Exam Duration: 3 Hrs
Objectives: The objectives of the course are : 1) to provide an insight into the different types of Life Insurance
Plans. 2) enable the students to understand the importance of Nomination and Assignments 3) give an Overview of
Policy Claims
UNIT I: PRACTICE AND PLANS OF LIFE INSURANCE : a) Practice of Life Insurance:
Overview of the Indian Insurance Market – Growth of Insurance Business in India – Organizational
Structure of LIC – Postal Life Insurance – Organizational Structure of Postal Life Insurance –
Appointment of Life Insurance Agents and their Functions – Need of an Agent in Life Insurance Selling –
Appointment of Agents – Remuneration to Agents – Trends in Life Insurance Distribution Channels. b)
Plans of Life Insurance: Types of Life Insurance Plans – Term Plan – Endowment Plan – Money Back
Insurance Plan – Whole Life Insurance Plan – Unit Linked Insurance Plans (ULIPs) – Joint Life

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Insurance Plans – Child Insurance Plans – Rider Benefits – Industrial Life Insurance – MWP Policies –
Keyman Insurance – Health Insurance and its types
UNIT II: PREMIUMS, BONUSES AND ANNUITIES : a) Premiums & Bonuses: Concept of
Premium – Types of Premium – Factors considered in calculating Premium – Premium Calculations -
Surrender Value and Non-forfeiture Options – Revival of Lapsed Policies and its Types – Revival of

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Postal Life Insurance Policies - Bonus in Policies –Types of Bonus in Life Insurance Policies. b)
Annuities: Understand Concept of Annuity – Types of Annuity Plans – Advantages and Disadvantages of
Annuity – Annuity Vs. Life Insurance – Terminology in Annuity
UNIT III: GROUP INSURANCE AND LINKED LIFE INSURANCE POLICIES : a) Group

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Insurance: Importance of Group Insurance Schemes – Features of Group Insurance Schemes – Eligibility
Conditions in Group Insurance – Types of Group Insurance Schemes – Group Term Insurance Scheme –

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Group Gratuity Scheme – Group Superannuation Scheme – Types of Group Superannuation Schemes –

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Group Leave Encashment Scheme – Employees Deposit – Linked Insurance Scheme – Group Insurance

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Scheme in Lieu of EDLI – Social Security Scheme. b) Linked Life Insurance Policies : Concept of Unit

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Linked Policies – ULIP Premium and its Break-up – Types of Funds in ULIPS – Traditional Plans Vs.
ULIPS – Working Mechanism – Top-up and NAV – Features of ULIPS – Revival of ULIPS – IRDA
Guidelines on ULIPS
UNIT IV: POLICY

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DOCUMENTS
r AND ASSIGNMENT, NOMINATION &

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SURRENDER OF POLICY : a) Policy Documents: Life Insurance Policy Application and Process –
Proposal Form and Related Documents - Importance of a Policy Document – Format of a Policy
Document – Policy Schedule and its Various Components – Conditions and Privileges in a Policy

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Document – Duplicate Policies. b) Assignment, Nomination & Surrender of Policy: Assignment of Life
Insurance Policies – Conditional Assignment – Absolute Assignment – Process of Assignment –

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Nomination – Process of Nomination – Features of Nomination – Assignment Vs. Nomination –
Surrender of Policies – Foreclosure of Insurance Policies
UNIT V: POLICY CLAIMS : Types of Policy Claims – Survival Benefits – Death Claims – Maturity
Claims – Submission of Proof of Title at Claim Processing Stage – Early Claims and Non–early Claims –
Documents required for Processing Early Claims – Death due to Un-natural Causes or Accidents –
Nomination – Assignment – Waiver of Evidence of Title – Claims Concession Clause and Extended
Claims Concession Clause – Presumption of Death – Insurance Riders – Accidental Death Benefit Rider
– Permanent Death Benefit Rider – IRDA Regulations for Claim Payments
SUGGESTED READINGS : 1. Risk Management and Insurance: Vaughan and Vaughan., 2.) Risk Management : A Publication of the
Insurance Institute of India., 3). Guide to Risk Management: Sagar Sanyal 4). Insurance and Risk Management: P.K. Gupta 5). Insurance Theory
and Practice: Tripathi PHI 6). Principles of Insurance Management: Neelam C Gulati, Excel Books 7). Life and Health Insurance: Black, JR
KENNETH & Harold Skipper, Pearson 8). Principles of Risk Management nd Insurance: (13 th Edition), George E ejda 9) . Risk Management
and Insurance : Trieschman ,Gustavson and Hoyt 10) South Western College Publishing Cincinnati, Ohio, 10). Life Insurance: Vol I, II, III
(LBRARO) : ICFAI Course Book. 11). Life and Health Insurance Handbook: Davis W.Gregg
Suggested Websites : www.irda.gov.in. 2) www.polocyholder.gov.in . 3) www.irdaindia.org.in

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 404) CORPORATE ACCOUNTING

Paper: BC 404 Max. Marks: 100

PPW: 5 Hrs Exam Duration: 3 Hrs
Credits : 5

Objective: to acquire knowledge of AS-14 and preparation of accounts of banking and insurance
companies.

UNIT-I: COMPANY LIQUIDATION:

Meaning – Modes - Contributory Preferential Payments – Statements of Affairs - Liquidator’s
Remuneration - Preparation of Liquidator’s Final Statement of Account (Including problems)

UNIT-II: AMALGAMATION (AS-14):

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Amalgamation: In the nature of merger and purchase – Calculation of Purchase Consideration –

UNIT-III: INTERNAL RECONSTRUCTION AND ACQUISITION OF BUSINESS:

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Accounting Treatment in the books of transferor and transferee companies. (Including problems)

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Internal Reconstruction: Accounting treatment – Preparation of final statement after
reconstruction- Acquisition of business when new set of books are opened- Debtors and
Creditors taken over on behalf of vendors- When same set of books are continued(Including
problems)

UNIT-IV: ACCOUNTS OF BANKING COMPANIES:

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Books and Registers maintained – Slip system of posting – Rebate on Bills Discounted – Non-

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Performing Assets – Legal Provisions relating to final accounts - Final Accounts. (Including

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problems)

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UNIT-V: ACCOUNTS OF INSURANCECOMPANIES AND INSURANCE CLAIMS:

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Introduction – Formats-Revenue Account–Net Revenue Account - Balance Sheet - Valuation

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Balance Sheet – Net Surplus – General Insurance - Preparation of final accounts with special

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reference to Fire and Marine Insurance - Insurance claims- Meaning – Loss of Stock and Assets
– Average Clause – Treatment of Abnormal Loss - Loss of Profit. (Including problems)

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SUGGESTED READINGS:
1. Advanced Accountancy (Vol-II): S.N.Maheshwari&V.L.Maheswari, Vikas.
2. Accountancy–III: Tulasian, Tata McGraw Hill Co.
3. Advanced Accountancy: Arulanandam; Himalaya
4. Accountancy–III: S.P. Jain & K.L Narang, Kalyani Publishers
5. Advanced Accounting (Vol-II): Chandra Bose, PHI
6. Advanced Accountancy: Shukla and Grewal, S.Chand& Co
7. Advanced Accountancy: R.L.Gupta&Radhaswamy, Sultan Chand & Sons
8. Corporate Accounting: Sakshi Vasudeva, Himalaya.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 405) INCOME TAX – II

Paper: BC 405 Max. Marks: 100

PPW: 5 Hrs Exam Duration: 3Hrs
Credits : 5

Objective :to acquire conceptual and legal knowledge about Income Tax provisions relating to
computation of Income from different heads with reference to an Individual Assessee.

UNIT-I: CAPITAL GAINS:

Introduction - Meaning – Scope of charge – Basis of charge – Short term and Long term Capital
Assets – Transfer of Capital Asset – Deemed Transfer – Transfer not regarded as Transfer –

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Determination of Cost of Acquisition – Procedure for computation of Long-term and Short-term
Capital Gains/Losses – Exemptions in respect of certain Capital Gains u/s. 54 – Problems on
computation of capital gains.

UNIT–II: INCOME FROM OTHER SOURCES:

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General Incomes u/s. 56(1) – Specific Incomes u/s. 56(2) – Dividends u/s. 2(22) – Interest on

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Securities – Gifts received by an Individual – Casual Income – Family Pension – Rent received
on let out of Furniture- Plant and Machinery with/without Building – Deductions u/s. 57 -
Problems on computation on Income from Other Sources.

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UNIT-III: CLUBBING AND AGGREGATION OF INCOME:

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Income of other persons included in the total income of Assessee – Income from Firm and AOP

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– Clubbing Provisions – Deemed Incomes – Provisions of set-off and Carry forward of losses –

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computation of Gross Total Income – Deductions from GTI u/s 80C to 80U – Problems on
Computation of Taxable Income

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UNIT-IV: ASSESSMENT OF INDIVIDUALS:

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Computation of Tax Liability – Applicability of Alternate Minimum Tax on Individual u/s

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115JC – Problems on Computation of tax liability

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UNIT–V: ASSESSMENT PROCEDURE:
Income tax returns – Types of returns – Filing of e-return – Assessment – Types of assessment –
Self assessment – Provisional assessment – Regular assessment – Best judgement assessment –
Reassessment – Rectification of mistakes – Notice on demand.

SUGGESTED READINGS:
1. Income Tax Law and Practice:V.P. Gaur & D.B- Narang, Kalyani Publishers.
2. Direct Taxes Law & Practice: Dr. Vinod K. Singhania & Dr. Kapil Singhania, Taxmann
3. Income Tax: B. Lal, Pearson Education.
4. Income Tax: M.Jeevarathinam & C. Vijay Vishnu Kumar, SCITECH Publications.
5. Taxation: R.G. Saha, Himalaya Publishing House Pvt. Ltd.
6. Income Tax: Johar, McGrawHill Education.
7. Taxation Law and Practice: Balachandran & Thothadri, PHI Learning

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 406) BUSINESS STATISTICS-II

Paper: BC 406 Max. Marks: 100
PPW: 4Hrs Exam Duration: 3hrs
Credits : 4
OBJECTIVE: to inculcate analytical and computational ability among the students.

UNIT-I: REGRESSION:
Introduction - Linear and Non Linear Regression – Correlation Vs. Regression - Lines of
Regression - Derivation of Line of Regression of Y on X - Line of Regression of X on Y - Using
Regression Lines for Prediction.

UNIT-II: INDEX NUMBERS:

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Introduction - Uses - Types - Problems in the Construction of Index Numbers - Methods of
Constructing Index Numbers - Simple and Weighted Index Number (Laspeyre - Paasche,

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Marshall – Edgeworth) - Tests of Consistency of Index Number: Unit Test - Time Reversal Test
- Factor Reversal Test - Circular Test - Base Shifting - Splicing and Deflating of Index
Numbers.

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UNIT-III: TIME SERIES:

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Introduction - Components – Methods-Semi Averages - Moving Averages – Least Square
Method - Deseasonalisation of Data – Uses and Limitations of Time Series.

UNIT-IV: PROBABILITY:

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Probability – Meaning - Experiment – Event - Mutually Exclusive Events - Collectively

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Exhaustive Events - Independent Events - Simple and Compound Events - Basics of Set Theory
– Permutation – Combination - Approaches to Probability: Classical – Empirical – Subjective -

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Axiomatic - Theorems of Probability: Addition – Multiplication - Baye’s Theorem.

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UNIT-V: THEORETICAL DISTRIBUTIONS:

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Binomial Distribution: Importance – Conditions – Constants - Fitting of Binomial Distribution.

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Poisson Distribution: – Importance – Conditions – Constants - Fitting of Poisson Distribution.
Normal Distribution: – Importance - Central Limit Theorem - Characteristics – Fitting a Normal

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Distribution (Areas Method Only).

SUGGESTED READINGS:
1. Statistics for Management: Levin & Rubin, Pearson,
2. Fundamentals of Statistics: Gupta S.C, Himalaya
3. Business Statistics: Theory & Application, P. N. Jani, PHI Learning
4. Business Statistics: Dr. J. K. Thukral, Taxmann Publications
5. Business Statistics: K. Alagar, Tata Mc Graw Hill
6. Fundamentals of Statistical: S. P Gupta , Sultan Chand
7. Business Statistics: J. K. Sharma,Vikas Publishers
8. Business Statistics: Vora, Tata Mc Graw Hill
9. Statistics-Problems and Solutions: Kapoor V.K, S. Chand
10. Statistics-Teory, Methods and Applications: SanchetiD.C. & Kapoor V.K
11. Business Statistics: S. K. Chakravarty, New Age International Publishers
12. Business Statistics-G.Laxman,Vasudeva Reddy, K.Goud, TaxmannPublications,Hyderabad.
12

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 407) AUDITING

Paper: BC 407 Max. Marks: 100

PPW: 4Hrs Exam Duration: 3Hrs
Credits : 4

Objective: to understand meaning and elements of auditing and gain knowledge for execution of
audit.

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UNIT-I: INTRODUCTION:
Auditing: Meaning – Definition – Evolution – Objectives – Importance -Types of Audit –

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Standards of Auditing – Procedure for issue of standards by AASB.

UNIT–II: AUDITOR AND EXECUTION OF AUDIT:

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Appointment – Qualification and Disqualification – Qualities – Remuneration – Removal –

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Rights – Duties – Civil and Criminal Liabilities of Auditors – Commencement of Audit –

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Engagement Letter – Audit Program – Audit Note Book – Audit Workbook – Audit Markings.

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UNIT–III: INTERNAL CONTROL, INTERNAL CHECK AND INTERNAL AUDIT:
Meaning and Objectives of Internal Control – Internal Check and Internal Audit – Internal Check
Vs.Internal Audit – Internal Control vs. Internal Audit.

UNIT–IV: VOUCHING:

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Meaning – Objectives – Types of Vouchers – Vouching of Trading Transactions – Vouching
Cash Transaction – Auditing in an EDP Environment.

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UNIT–V: VERIFICATION AND VALUATION OF ASSETS:

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Meaning and Definition – Distinction – Verification and Valuation of various Assets

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andLiabilities – Audit Committee – Role of Audit Committee – Audit Reports.

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SUGGESTED READINGS:

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1. Principles and Practice of Auditing: RG Saxena, Himalaya Publishing House.
2. Auditing and Assurance for CA Integrated Professional Competence: SK Basu, Pearson.
3. Auditing: ArunaJha, Taxmann Publications.
4. Auditing Principles, Practices & Problems: Jagdish Prakash, Kalyani Publishers.
5. Auditing and Assurance: Ainapure&Ainapure, PHI Learning.
6. Principles and Practice of Auditing: DinkarPagare, Sultan Chand & Sons.
7. Fundamentals of Auditing: Kamal Gupta andAshok Arora, Tata McGraw-Hill
8. A Hand Book of Practical Auditing: B.N. Tandonetal., S. Chand.

**********

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

B.Com (Tax Practices and Procedures)

(w.e.f. 2018–2019)

Third Year Syllabus (CBCS)

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FACULTY OF COMMERCE, OSMANIA UNIVERSITY
HYDERABAD - 500 007 T.S.

2018

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

DEPARTMENT OF COMMERCE, O.U.

Structure of B.Com ((Tax Practices & Procedures) (CBCS) for Osmania University, Hyderabad.
(w.e.f. Academic Year 2016-17)
B.COM (Tax Practices & Procedures) PROGRAMME

FIRST YEAR:
SEMESTER-I
Sl.No. Code Course Title Course Type HPW Credits
(1) (2) (3) (4) (5) (6)
1. BC101 A/B/C/D AECC-1 2 2
2. BC102 English CC-1A 5 5

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3. BC103 Second Language CC-2A 5 5
4. BC104 Financial Accounting - I DSC-1A 5 5

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5. BC105 Business Economics DSC-2A 5 5
6. BC106 Business Organization DSC-3A 4 4
7. BC107

SEMESTER-II
Information Technology
Total
DSC-4A

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3T+2P
31
4
30

8. BC201
9. BC202
10. BC203
11. BC204
A/B/C/D
English
Second Language
Financial Accounting - II
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AECC-2
CC-1B
CC-2B
DSC-1B
2
5
5
5
2
5
5
5
12. BC205
13. BC206
14. BC207
Managerial Economics

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Principles of Management
Foreign Trade
t y DSC-2B
DSC-3B
DSC-4B
5
4
4
5
4
4

SECOND YEAR:
SEMESTER-III
Total

e r s 30 30

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15. BC301 Principles of Insurance SEC-1 2 2
16. BC302
17. BC303
18. BC304
19. BC305
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Second Language
Advanced Accounting
Income Tax-I
CC-1C
CC-2C
DSC-1C
DSC-2C
5
5
5
5
5
5
5
5

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20. BC306
21. BC307

SEMESTER-IV
Business Statistics-I
Entrepreneurial Development & Business
Ethics
Total
DSC-3C
DSC-4C
4
4

30
4
4

22. BC401 Practice of Life Insurance SEC-2 2 2

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

THIRD YEAR:
SEMESTER-V
29. BC501 Practice of General Insurance SEC-3 2 2
30. BC502 Introduction to Indian Economy GE-1 2 2
31. BC503 Cost Accounting DSC 4 4
32. BC504 Business Law DSC 4 4
33. BC505 Banking Theory & Practice DSC 4 4
34. BCT506 Assessment of Other Entities DSE 5 5
35. BC507 Computerised Accounting DSC 4T+2P 4
36. BCT508 Customs Procedure & Practice DSE 5 5
Total 32 30
SEMESTER-VI
37. BC601
38. BC602
39. BC603
Regulation of Insurance Business
Sectors of India Economy
Theory and Practice of GST
SEC-4
GE-2
DSE
2
2
4T+2P

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2
2
5s
40. BC604
41. BC605
42. BC606
Company Law
Managerial Accounting
Commerce Lab
DSC
DSC
DSC

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4
4
a
2T+4P
4
4
4
43. BC607
44. BCT608
Financial Institutions & Markets
Tax Planning & Management
Total
GRAND TOTAL
DSC
DSE

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5
33
186
4
5
30
180

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AECC: Ability Enhancement Compulsory Course; SEC: Skill Enhancement Course; DSC: Discipline

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Specific Course; DSE: Discipline Specific Elective; GE: Generic Elective; T=Theory; P=Practicals;

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DSC i v Language
2
4
8
8
16
2
2
5
5
4
4
8
40
40
64

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4
5
DSE
GE
TOTAL
Commerce Total
4
2
44
28
5
2
20
4
180
124

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

SYLLABUS

Paper : (BC 501) : PRACTICE OF GENERAL INSURANCE

Paper: BC501 Max. Marks: 40+10

PPW: 2 Hrs Exam Duration: 1½ hrs

Unit I: GENERAL INSURANCE POLICIES:

Introduction to General Insurance-Origin of general insurance—Classification of General Insurance
Companies—Indian and International Insurance Market—various roles in Insurance industry—
Policy Documents and forms—insurance proposals and forms—General Insurance Products-Fire,
Marine, Motor, Liability, Personal Accident and Specialty Insurance, Engineering and other
insurance.

Unit II: UNDERWRITING, PREMIUMS, CLAIMS AND INSURANCE RESERVES AND

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ACCOUNTING:

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Concept of Underwriting—Underwriting Process—Risk sharing and its methods—risk
management and steps involved in it—Rating and Premiums—concept of soft and hard markets—

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Concept of Claim-understanding the process of claim management—claims fraud and fraud
prevention—Insurance reserves and accounting—different types of reserves of insurance

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companies—reserving process followed by insurance companies—Insurance accounting.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 502) : INTRODUCTION TO INDIAN ECONOMY

Paper: BC502 Max. Marks: 40+10
PPW: 2 Hrs Exam Duration: 1½ Hrs

Objectives: 1) to provide an overview of Indian economy

2) to make the student acquaint with the latest developments in the economy

UNIT I: STRUCTURE OF THE INDIAN ECONOMY:

Indian Economy-Characteristics-Developmental issues-Structural changes in the Indian Economy-

Human Development-concept and measures-Occupational distribution and economic development-
Natural Resource: Land, Forest, Water & Minerals-Environmental degradation-Infrastructure:
Energy, Power, Transport-Social infrastructure

UNIT II: POLICY ASPECTS OF INDIAN ECONOMY:

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parallel economy – Industrial Policy.

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Liberalization - Privatization-Globalization-Poverty- Unemployment: nature and problems - The

Publishing Company, New Delhi, 2013.

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2) S.K.Misra & V.K.Puri “Indian Economy-Its Development Experience”Himalaya Himalya

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3) Introduction to Indian Economy: Dr. P. Venugopal Rao, PBP.

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4) Vivek Mittal “Business Environment” Excel Publications, New Delhi, 2013.

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5) Aswathappa.K. “Essentials of Business Environment – Text, cases & Exercises” Himalaya

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Himalya Publishing Company, New Delhi, 2013.
6) Economic Survey—Government of India, Ministry of Finance, Oxford University Press,
New Delhi,

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7) The Economic Times, News paper

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8) Business Line, News paper

U -:-

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 503) : COST ACCOUNTING

Paper: BC503 Max. Marks: 80 + 20
PPW: 4 Hrs Exam Duration: 3 Hrs

Objective: to make the students acquire the knowledge of cost accounting methods.

UNIT-I: INTRODUCTION:
Cost Accounting: Definition – Features – Objectives – Functions – Scope – Advantages and
Limitations - Essentials of a good cost accounting system- Difference between Cost Accounting
and Financial Accounting – Cost concepts – Cost Classification.

UNIT-II: MATERIAL:

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Direct and Indirect Material cost – Inventory Control Techniques – Stock Levels – EOQ – ABC
Analysis – JIT - VED - FSND - Issue of Materials to Production – Pricing methods: FIFO - LIFO
with Base Stock and Simple and Weighted Average methods.

UNIT-III: LABOUR AND OVERHEADS:

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Labour: Direct and Indirect Labour Cost – Methods of Payment of Wages (only Incentive Plans):
Halsey, Rowan, Taylor Piece Rate and Merrick Multiple Piece Rate Methods.

UNIT-IV: UNIT AND JOB COSTING:

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Overheads: Classification - Methods of Allocation - Apportionment and Absorption of overheads.

Unit Costing: Features - Cost Sheet – Tender and Estimated Cost Sheet.

UNIT-V: CONTRACT AND PROCESS COSTING:

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Job Costing: Features - Objectives – Procedure - Preparation of Job Cost Sheet.

profit on incomplete Contracts.

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Contract Costing: Features – Advantages - Procedure of Contract Costing – Guidelines to Assess

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Process Costing: Meaning – Features – Preparation of Process Account – Normal and Abnormal
Losses.

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SUGGESTED READINGS:

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1. Cost Accounting: Jain and Narang, Kalyani

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2. Cost Accounting: Srihari Krishna Rao, Himalaya
3. Cost and Management Accounting: Prashanta Athma, Himalaya
4. Cost Accounting: Dr. G. Yogeshweran, PBP.
4. Cost Accounting: Jawaharlal, Tata Mcgraw Hill
5. Cost Accounting: Theory and Practice: Banerjee, PHI
6. Introduction to Cost Accounting: Tulsian, S.Chand
7. Cost Accounting: Horngren, Pearson
8. Cost Accounting: Ravi M. Kishore, Tax Mann Publications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 504) : BUSINESS LAW

Paper: BC504 Max Marks: 80 + 20
PPW: 4 Hrs Exam Duration: 3Hrs
Objective: to make the students acquire basic conceptual knowledge of different laws relating to
Business.

UNIT–I: INTRODUCTION:
Development of Business Law - Development of Law in Independent India Contract Act 1872:
Agreement and contract - Essentials of a valid contract - Types of contracts - Offer and Acceptance
- Essentials of valid offer and acceptance - Communication and revocation of offer and acceptance
– Consideration definition - Essentials of valid consideration - Doctrine of “Stranger to a contract”-
“No consideration- No contract” - Capacity to a contract - Minors agreements.

UNIT–II: CONTRACT ACT 1872:

Legality of Object and Consideration - Agreements Expressly Declared To Be Void - Wagering
Agreements - Contingent Contracts.

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Remedies for Breach.

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Discharge of Contract: Modes of Discharge - Performance of Contracts - Breach of Contract -

UNIT–III: SALE OF GOODS ACT 1930:

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Contract of Sale: Essentials of Valid Sale - Sale and Agreement to Sell – Definition and Types of
Goods - Conditions and Warranties - Caveat Emptor - Exceptions - Transfer or Passing of Property:
Time When Property Passes, Rules of Transfer of Property, Transfer of Ownership - Sale by Non-

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Owners and its Exceptions - Unpaid Seller - Rights of Unpaid Seller.

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Consumer Protection Act 1986: Definitions of Consumer – Person – Goods - Service -Consumer

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Dispute - Unfair Trade Practice - Restrictive Trade Practice – Defect - Deficiency - Consumer

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Protection Councils - Consumer Dispute Redressal Agencies - District Forum - State Commission

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and National Commission - Procedure to Lodge a Complaint for Redressal – Appeals.

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UNIT–IV: TRADE MARKS, PATENTS, COPY RIGHTS & INTELLECTUAL PROPERTY
RIGHTS:

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Trade Marks: Definition - Procedure for Registration of Trade Marks - Patents: Definition - Kinds

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of Patents - Transfer of the Patent Rights - Rights of the Patentee - Copy Rights: Definition -
Essential Conditions for Copy Rights to be Protected - Rights of the Copyright Owner - Terms of

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Copy Right - Copy Rights Infringement - Other Intellectual Property Rights: Trade Secrets -
Geographical Indications.

UNIT–V: INFORMATION TECHNOLOGY ACT & ENVIRONMENTAL PROTECTION

ACT:
Information Technology Act-2000: Objectives - Digital Signature - Electronic Governance -
Penalties and Adjudication.
Environmental Protection Act 1986: Object - Scope and Scheme of the Act – Definitions - General
Powers of the Central Government – Prevention - Control and Abetment of Environmental
Pollution – Offences and Penalties.

SUGGESTED READINGS:
1) Company Law: Kapoor, Sultan Chand and Co.
2) Business Law: Sandhya KVN, Himalaya

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

3) Business Laws: KC Garg & RC Chawla , Kalyani Publishers.

4) Business Law: Prof. G. Krishna Murthy, PBP.
5) Business Law: PC Tulsian & Bharat Tulsian, McGraw Hill Education
6) Business Law: Tejpal Sheth, Pearson.
7) Business Law: MC Kuchal & Vivek Kuchal, Vikas Publishing House.
8) Business Law: Mathur, McGraw Hill Education.
9) Business Law including company Law: SS Gulshan & GK Kapoor, New Age
10) Business Law: Peddina Mohan Rao, PHI.
11) Business Law: P.N. Bansal, Tax Mann Pulications.
12) Business Law: R.S.N. Pillai and Bagavathi, S. Chand.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 505) : BANKING THEORY AND PRACTICE

Paper: BC505 Max. Marks: 80 + 20
PPW: 4 Hrs Exam Duration: 3Hrs

Objective: to acquire knowledge of working of Indian Banking system.

UNIT-I: INTRODUCTION:
Origin and Growth of Banking in India - Unit Vs Branch Banking - Functions of Commercial
Banks - Nationalization of Commercial Banks in India - Emerging Trends in Commercial Banking
in India: E-Banking – Mobile Banking - Core Banking – Bank Assurance –OMBUDSMAN.

UNIT-II: RESERVE BANK OF INDIA:

RBI Constitution - Organizational Structure – Management - Objectives – Functions – Monetary
Policy.

UNIT-III: TYPES OF BANKS:

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District Co-Operative Central Banks – Contemporary Banks - Regional Rural Banks - National

UNIT-IV: BANKER AND CUSTOMER RELATIONSHIP:

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Bank for Agriculture and Rural Development (NABARD) – SIDBI – Development Banks.

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Definition of Banker and Customer - Relationship Between Banker and Customer - KYC norms -
General and Special Features of Relationship - Opening of Accounts - Special Types of Customers
Like Minor, Married Women, Partnership Firms, Companies, Clubs and other Non-Trading
Institutions.

UNIT-V: NEGOTIABLE INSTRUMENTS:

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Descriptions and their Special Features - Duties and Responsibilities of Paying and Collecting

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Banker - Circumstances under which a Banker can refuse Payment of Cheques - Consequences of

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Wrongful Dishonors - Precautions to be taken while Advancing Loans Against Securities – Goods -

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Documents of Title to Goods - Loans against Real Estate -Insurance Policies - Against Collateral
Securities – Banking Receipts.

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Rule in Clayton’s Case - Garnishee Order – Loans against Equitable Mortgage - Legal Mortgage -
Distinction between them - Latest Trends in Deposit Mobilization.

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SUGGESTED READINGS:

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1. Banking Theory & Practices: Dr. P. K. Srivatsava, Himalaya Publishers
2. Banking Theory & Practices: K.E. Shekar, Vikas Publications
3. Banking theory & Practices: Santhi Vedula, HPH.
4. Banking Theory & Practices: Dr. J. Jayanthi, PBP.
5. Banking Theory, Law & Practices: R. R Paul, Kalyani Publishers
6. Money Banking and Financial Markets: Averbach, Rabort. D, MacMillan. Landon
7. Banking: N.T. Somashekar, New Age International Publishers
8. Fundamentals of International Banking: Rup Narayan Bose, Trinity Publishers
9. Modern Commercial Banking: H.R. Machiraju, New Age International Publishers
10. Banking Theory & Practices: R. Rajesh, Tata McGraw Hill
11. Merchant Banking & Financial Services: S. Guruswamy, Tata McGraw Hill
12. Management of Banking & Financial Services; Padmalatha Suresh, Pearson
13. Modern Banking: D. Muralidharan, PHI

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BCT 506) : ASSESSMENT OF OTHER ENTITIES

Paper: BCT506 Max. Marks: 80 + 20

PPW: 5 Hrs Exam Duration: 3Hrs

Objective: To acquaint the students with the basics and latest developments in areas of Assessment
of Other Entities.

UNIT-I: HINDU UNDIVIDED FAMILIES:

Introduction- Schools of Hindu Law- Residential Status of HUF- Partition of HUF Impartible
Estate- Income not to be treated as family income- Assessment of HUF (Theory and Problems).

UNIT–II: ASSESSMENT OF PARTNERSHIP FIRMS U/S 184:

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Meaning of Partnership Firm- Conditions for Assessment as a firm U/S 184 and 185 Treatment of
interest and remuneration paid to partners U/S 40(b)- Computation of Total Income – Assessment
of Partners of Firm – Change in Constitution of Firm Succession of one firm by another firm –
Assessment of dissolved or discontinued firm (Theory and Problems).

UNIT–III: ASSESSMENT OF PARNERSHIP FIRMS ASSESSED AS AOP:

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Partnership firm assessed as association of persons (AFAOP) – Computation of Total Income –
Allocation of PFAOP’s – Total Income – Treatment of Share of Income received by partners of
PFAOP(Theory and Problems).

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UNIT–IV: ASSESSMENT OF COMPANIES:

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Meaning of Company – Types of Companies – Computation of Gross Total Income of a Company

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– Deductions – Carry Forward and set off of losses- MAT – Tax Liability Tax on Distributed

and Problems).

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Profits – Tax on income in certain cases such as royalties, copyrights, literary works etc (Theory

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UNIT–V: ASSESSMENT OF CO- OPERRATIVES AND TRUSTS:

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Computation of Tax.

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Meaning of Co-operative Society – Definition – Deduction U/S 80(p) – Other deductions –

Definition Trust – Creation – Assessment of Private Trust – Charitable Trust – Exemptions –

Application of Income – Income not exempted – Registration (Theory only)

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SUGGESTED READINGS:

1. Vinod K. Singhania: Taxman’s Direct Tax Laws.

2. Bhagawati Prasad: Ditect Tax Laws an Practice.
3. B. B. Lal and N. Vashisht: Direct Taxes, Income Tax, Wealth Tax an Tax.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BC 507) : COMPUTERISED ACCOUNTING

Paper: BC507 Max. Marks: 80+20

PPW: 5 (4T & 2P) Exam Duration: 3 Hrs.
Objective: To make the students to acquire the knowledge of computer software

UNIT I: MAINTAINING CHART OF ACCOUNTS IN ERP:

Introduction-Getting Started with ERP - Mouse/Keyboard Conventions-Company Creation-Shut a
Company-Select a Company-Alter Company Details-Company Features and Configurations-F11:
Company Features-F12: Configuration-Chart of Accounts-Ledger-Group-Ledger Creation-Single
Ledger Creation-Multi Ledger Creation-Altering and Displaying Ledgers-Group Creation-Single
Group Creation-Multiple Group Creation-Displaying Groups and Ledgers-Displaying Groups-
Display of Ledgers-Deletion of Groups and Ledgers – P2P procure to page.

UNIT II: MAINTAINING STOCK KEEPING UNITS (SKU):

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Introduction-Inventory Masters in ERP - Creating Inventory Masters-Creation of Stock Group-

Opening Balance in ERP Stock Category-Reports.

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Creation of Units of Measure-Creation of Stock Item-Creation of Godown-Defining of Stock

UNIT III: RECORDING DAY-TO-DAY TRANSACTIONS IN ERP:

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Introduction-Business Transactions-Source Document for Voucher-Recording Transactions in ERP
- Accounting Vouchers-Receipt Voucher (F6)-Contra Voucher (F4)-Payment Voucher (F5)-
Purchase Voucher (F9)-Sales Voucher (F8)-Debit Note Voucher-Credit Note (Ctrl+F8)-Journal
Voucher (F7).

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UNIT IV: ACCOUNTS RECEIVABLE AND PAYABLE MANAGEMENT:

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Introduction-Accounts Payables and Receivables-Maintaining Bill-wise Details-Activation of

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Maintain Bill-wise Details Feature-New Reference-Against Reference-Advance-On Account-Stock

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Category Report-Changing the Financial Year in ERP.

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UNIT V: MIS REPORTS:

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Introduction-Advantages of Management Information Systems-MIS Reports in ERP - Trial Balance

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- Balance Sheet-Profit and Loss Account-Cash Flow Statement-Ratio Analysis-Books and Reports -
Day Book-Receipts and Payments-Purchase Register-Sales Register-Bills Receivable and Bills

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Payable.

REFERENCE BOOKS:

1. Computerised Accounting: Garima Agarwal, Himalaya

2. Computerised Accounting: A. Murali Krishna, Vaagdevi publications
3. Computerised Accounting: Dr. G. Yogeshweran, PBP.
4. Aakash Business Tools: Spoken Tutorial Project IIT Bombay
5. Mastering Tally: Dinesh Maidasani, Firewal Media
6. Implementing Tally ERP 9: A.K Nadhani and K.K Nadhani, BPB Publications
7. Computerised Accounting and Business Systems: Kalyani Publications
8. Manuals of Respective Accounting Packages
9. Tally ERP 9: J.S. Arora, Kalyani Publications.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

Paper : (BCT 508) CUSTOMS PROCEDURE & PRACTICE

Paper: BCT 508 Exam Duration : 3 hrs.

Instruction:5ppw Marks: 100[80T+20I]

Objective: To acquaint the students with the provisions of Customs Act.

UNIT I:CUSTOMS ACT AND IMPORTANT TERMS AND DEFINITIONS OF CUSTOMS:

An overview of Customs Act 1962, An overview of Customs Tariff Act 1975. Role of Customs in
international trade-Customs Organization in India-—Terms and definitions-Assessable value,
Baggage, Bill of entry, Bill of exports, Dutiable goods, Duty, Exporter, Foreign going vessel/
aircraft, Goods, Import, Import manifest, Prohibited Goods, Shipping bill, Stores, Boat notes,

Canalized goods, Import against licensing.

UNIT II: DUTIES AND IMPORT PROCEDURES:

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Transit goods, Coastal goods, Bill of lading, Export manifest, FOB, FAS, CIF, Letter of Credit,

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Kinds of duties (as per latest finance acts)-prohibition on exportation and importation of goods -
provisions regarding notified and specified goods-Import of goods through sea, air, land – clearance
of baggage- measuring and kinds of baggage-rules & procedures of import thereof- exempted

tourists – import through courier post.

UNIT III: GOODS, PROCEDURES AND DUTY DRAWBACK:

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baggage-general free allowances- concession to person transferring his residence – concession to

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Damaged goods-pilfered goods – Destroyed goods -Derilict – Conveyances-Clearance procedure

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for import by stores – Export procedure– Warehousing – Coastal goods-Duty drawback-Meaning –

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Scheme – Procedure and documentation – Drawback rates – Drawback claim procedure –
Drawback on re-export.

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UNIT IV: OFFICERS, PENALTIES AND EXEMPTIONS:

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Customs administrative & Operational authorities –Powers of Customs Officers – Penalties and

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offences under Customs Act.-Exemptions of duty- Remissions of duty- Demand of duty-
Recovery and refund of duty.

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UNIT V: EXPORT POLICY AND EXPORT PROMOTION:
Export policy—Export promotion schemes – Schemes where export production has to be isolated

U
from domestic production unit to get inputs free from taxes – Other schemes of export promotion.

Suggested Readings:
1. VS Datey : Indirect Taxes, Taxman Publications, New Delhi
2. R.K.Jain : Customs Law Manual Central Publications, New Delhi
3. Balachandran: Indirect Taxation – Sultan Chand & Sons, New Delhi.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 601: REGULATIONS OF INSURANCE BUSINESS

Paper: BC601 Max. Marks: 40+10

PPW: 2 Hrs Exam Duration: 1½ Hrs
Objective: To equip the students with the knowledge regarding Insurance Business Regulations
UNIT I: INSURANCE LEGISLATION IN INDIA:
History of life and non-life insurance legislation—nationalization—insurance reforms—insurance
business Act, 1972—IRDA and its functions including licensing functions—Web aggregators—
regulation for intermediaries—CCS-SPV-PoS-insurance repositories-TPAs—Role and duties of
surveyors—Origin and development of micro-insurance—regulation of ULIPs—pension
schemes—money laundering—KYC—methods of receipt of premium—Exchange control

Health plus life combi products.

UNIT II: POLICY HOLDERS RIGHTS OF ASSAINGMENT, NOMINATION AND

te s
regulations relating to General and Life Insurance—IRDA Health Insurance Regulations, 2016—

TRANSFER:

d a
Assignment and transfer of insurance policies—provisions related to nomination—repudiation—
Fraud—protection of policyholder interest—stages in insurance policy-presale stage-post sale

p
stage-free look period—grievance redressal—claim settlement—key feature document—dispute
resolution mechanism—insurance ombudsman—solvency margin and investments—international
trends in insurance regulation.

U
SUGGESTED READINGS :

i t y
1. Regulation of Insurance Business – Insurance Institute of India

s
2. Regulation of Insurance Business – D.S. Vittal, HPH

r
3. Regulation of Insurance Business: Dr. V. Padmavathi, PBP

e
4. Risk Management : A Publication of the Insurance Institute of India
5. Insurance Theory and Practice: Tripathi PHI

i v
6. Life and Health Insurance: Black, JR KENNETH & Harold Skipper, Pearson
7. Risk Management and Insurance : Trieschman ,Gustavson and Hoyt

n
8. South Western College Publishing Cincinnati, Ohio.
9. Insurance Management – S.C. Sahoo & S.C. Das-HPH.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 602: SECTORS OF INDIAN ECONOMY

Paper: BC602 Max. Marks: 40+10
PPW: 2 Hrs Exam Duration: 1½ Hrs

Objective: To equipment the students with the knowledge regarding Basics of Indian Economy

UNIT I: AGRICULTURE IN INDIA:

Place of agriculture: Progress-Green revolution-Present state-New thrust areas-Food security:

Legislation-Schemes-Public distribution system-Agricultural Marketing: Types-warehousing-
Agricultural Labour-Minimum wages-Rural credit-RRBs-NABARD.

UNIT II: INDUSTRIES AND TERTIARY SECTOR IN INDIA:

te s
Role and pattern of industrialization-Large-scale industry- Small-scale industry-Information

d a
Technology Industry-Labour problems-Labour Policy-Social Security-Trade Union Movement-
Industrial Disputes-Unorganized Sector-Foreign Trade - Balance of Payments - SEZs- Foreign
Exchange- Convertibility-Banking Sector-Money Market- Public Finance-Financial relations
between Centre and States;.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 603: THEORY AND PRACTICE OF GST

Paper: BC603 Max. Marks: 80 + 20
PPW: 4T+2P Exam Duration: 3Hrs
Objective: To equipment the students with the knowledge regarding Theory and Practice of GST
CHAPTER I: INTRODUCTION TO GST:
Introduction – GST - Taxes Subsumed under GST -Determination of Tax - Registration -Process
of Registration - Cancellation and renovation of registration - Supply of Goods and Services -
Transition to GST - Registered Business -Availed Input Tax Credit -Unavailed CENVAT credit and
Input VAT on capital goods-Availing the input credit held in closing stock -Invoicing -Tax Invoice
-Bill of Supply -Credit Note, Debit Note and Supplementary Invoice-Transportation of goods
without issue of Invoice -Input Credit Mechanism - Input Tax - GST Returns - Payment of Tax.
CHAPTER II: GETTING STARTED WITH GST:

te s
Introduction - Enabling GST and Defining Tax Details-Transferring Input Tax credit to GST -
Intrastate Supply of Goods-Intrastate Inward Supply -Intrastate Outward Supply -Interstate -
Interstate Outward Supply - Return of Goods -Purchase Returns -Sales Returns -Supplies Inclusive

a
of Tax -Defining Tax Rates at Master and Transaction Levels - Defining GST Rates at Stock Group
Level-Defining GST Rate at Transaction Level -Hierarchy of Applying Tax Rate Details –Reports.
CHAPTER III: RECORDING ADVANCED ENTRIES, GST ADJUSTMENT AND
RETURN FILING:

p d
Introduction -Accounting of GST Transactions -Purchases from Composition Dealer -Purchases

U
from Unregistered Dealers-Exports -Imports -Exempted Goods -SEZ Sales -Advance Receipts and
payments - Mixed Supply and Composite Supply under GST -Mixed Supply of Goods -Composite

y
Supply of Goods -GST Reports - Generating GSTR- Report in ERP -Input Tax Credit Set Off -

t
GST Tax Payment -Time line for payment of GST tax -Modes of Payment -Challan Reconciliation

i
-Exporting GSTR- return and uploading in GST portal.

s
CHAPTER IV: GETTING STARTED WITH GST (SERVICES):

r
Introduction -Determination of supply of services -Determining the Place of Supply of Services -
Enabling GST and Defining Tax Details-Transferring Input Tax credit to GST -Intrastate Supply of

e
Goods -Intrastate Inward Supply-Intrastate Outward Supply -Interstate Supply -Interstate Outward

v
Supply -Interstate Inward Supply -Interstate Outward Supply of Services -Cancellation of Services -

i
Cancellation of Inward Supplies -Cancellation of Outward Supply of Services -Defining Tax Rates

n
at Master and Transaction Levels.
CHAPTER V: RECORDING ADVANCED ENTRIES AND MIGRATION TO ERP:
Introduction - Accounting Multiple Services in a Single Supply - Recording Partial Payment to

U
Suppliers -Outward Supplies - Recording Outward Supply with Additional Expenses - Supply of
services -Business to consumers - Time of Supply of Services - Place of Supply of Services -
Determining place of supply of services - Exempt Supply of Services under GST -Export Supply of
Services - Reverse Charge on Services under GST - Advance Receipts from Customers under GST
- Advance Receipt and issuing Invoice on same month -Advance Receipt and issuing Invoice on
different month - Reversal of GST on account of cancellation of advance receipt - Generating
GSTR- Report in ERP - Input Tax Credit Set Off - Migration to ERP - Activate Goods and
Services Tax (GST) in ERP - Set up GST rates - Update Masters - Update party GSTIN/UIN -
Creation of GST Duty ledgers.
SUGGESTED READINGS:
1. Taxmann’s Basics of GST
2. Taxmann’s GST: A practical Approach
3. Theory & Practice of GST, Srivathsala, HPH
4. Theory & Practice of GST: Dr. Ravi M.N, PBP.
15

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 604: COMPANY LAW (2013Act)

Paper: BC604 Max. Marks:80 + 20

PPW: 4 Exam Duration: 3Hrs

Objective: to understand legal provisions applicable for establishment, management and winding
up of companies in India as per Companies Act 2013.

UNIT-I: INCORPORATION OF COMPANIES:

Company: Meaning and Definition – Characteristics - Classification – Legislation on Companies –
Incorporation - Promotion – Registration - Memorandum of Association – Articles of Association –

business.

UNIT–II: MANAGEMENT OF COMPANIES:

te s
Certificate of Incorporation - Prospectus – Statement in lieu of Prospectus – Commencement of

d a
Director: Qualification - Disqualification - Position - Appointment - Removal – Duties and
Liabilities – Loans – Remuneration – Managing Director – Corporate Social Responsibility –
Corporate Governance.

UNIT–III: COMPANY SECRETARY:

U p
Company Secretary: Definition – Appointment – Duties – Liabilities – Company Secretary in
Practice – Secretarial Audit.

UNIT–IV: COMPANY MEETINGS:

i t y
Meeting: Meaning – Requisites - Notice – Proxy - Agenda – Quorum – Resolutions – Minutes –

General Body Meeting – Board Meetings.

UNIT–V: WINDING UP:

e s
Kinds – Shareholder Meetings - Statutory Meeting - Annual General Body Meeting – Extraordinary

r
i v
Meaning – Modes of Winding Up –Winding Up by tribunal – Voluntary Winding Up –
Compulsory Winding Up – Consequences of Winding Up – Removal of name of the company from

n
Registrar of Companies – Insolvency and Bankruptcy code - 2016.

1)
2)
3)
4)
U
SUGGESTED READINGS:

Company Law: ND Kapoor, Sultan Chand and Co.

Company Law: Rajasri. – HPH
Company Law: Prof. G. Krishna Murthy, G. Kavitha, PBP
Company Law and Practice: GK Kapoor & Sanjay Dhamija, Taxmann Publication.
5) Company Law: Revised as per Companies Act- 2013: KC Garg et al, Kalyani Publication.
6) Corporate Law: PPS Gogna, S Chand.
7) Company Law: Bagrial AK: Vikas Publishing House.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 605: MANAGERIAL ACCOUNTING

Paper: BC605 Max. Marks: 80 + 20

PPW: 5 Hrs Exam Duration: 3 Hrs

Objective: to acquire Advanced Managerial Accounting decision-making techniques and reporting

methods.

UNIT-I: STANDARD COSTING AND VARIANCE ANALYSIS:

Standard Costing: Meaning – Importance – Standard Costing and Historical Costing - Steps
involved in Standard Costing.
Variance Analysis: Material variance - Labour variance - Overhead variance - Sales variance.

UNIT-II: CAPITAL BUDGETING:

te s
Meaning – Nature – Need and Importance – Methods of Capital Budgeting - Traditional Methods:
Payback Period - Accounting Rate of Return - Discounted Cash Flow Methods: Net Present Value
Method - Internal Rate of Return and Profitability Index Method.

UNIT-III: RESPONSIBILITY ACCOUNTING:

d a
p
Definition – Scope – Responsibility Centers – Expenses Center – Revenue Center – Profit Center –
Investment Center – Advantages of Responsibility Accounting – Cost Centers Vs. Responsibility
Centers (Theory only).

U
t y
UNIT-IV: RECONCILIATION OF COST AND FINANCIAL ACCOUNTS:
Need – Causes of differences – Procedure for Reconciliation Cost and Financial Accounts.

i
UNIT-V: MIS AND REPORTING:

r s
Management Information System (MIS): Introduction – Elements of MIS – Types of MIS –
Installing of MIS.

e
Reporting: Meaning and definition – Objectives – Methods of Reporting – Requirements of Good

i v
Report – Kinds of Reports.

n
SUGGESTED READINGS:

U
1. Management Accounting- Principles & Practice: Sharma RK & Shashi K. Gupta, Kalyani
2. Advanced Managerial Accounting: Srihari Krishna Rao, Himalaya
3. Advanced Managerial Accounting: Dr. Sundaram, PBP
3. Advanced Management Accounting: Robert S. Kaplan & Anthony A. Atkinson, Prentice-Hall
4. Management Accounting: Rustagi R.P, Galgotia
5. Managerial Accounting: Ronald W. Hilton, TMH

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 606: COMMERCE LAB

Paper: BC606 Max. Marks: 70PF* + 30VV
PPW: 4 (2T+4P) Exam Duration:

Objective: to become familiar with various business documents and acquire practical knowledge, which
improve over all skill and talent.
UNIT-I: BASIC BUSINESS DOCUMENTS:
Trade license under Shops and Establishments Act - Labor license from Department of labor - Partnership
Deed - Pollution, Health licenses – Quotation - Invoice form and preparation - Computation of simple
interest, compound interest and EMI - Way bill used during transport - Debit Note and Credit Note - Audit
Report.

UNIT-II: FINANCE, BANKING AND INSURANCE DOCUMENTS:

s
Promissory Note - Bill of exchange – Cheque - Pay in slip - Withdrawal form - Account opening and
Nomination form KYC - Deposit form and Deposit Receipts - Loan application form - Insurance Proposal

te
form and Insurance Policy - ATM Card Application form - Credit appraisal report - Insurance agency
application procedure - ESI / PF membership form.

UNIT-III: DOCUMENTS FOR INCORPORATION A COMPANY:

d a
Memorandum of Association - Articles of Association - Certificate of Incorporation – Prospectus -

p
Certificate of Commencement of Business - Annual Report – Chairman’s Speech - Model bye-laws of some
society - Society/ Trust registration form - Complaint in a Consumer forum - Complaint under Right to
Information Act.

UNIT-IV: DOCUMENTS OF TAXATION:

y U
PAN application under Income Tax Act - TAN application under Income Tax Act - Form:16 to be issued by

t
Employer - TDS and its certificate u/s15 - Income Tax payment challans and Refund Order - Income Tax

i
Returns including TDS Return - Notices under Income Tax Act - Assessment Order - GST Dealer-

s
Application and License - Registration under GST.

UNIT-V: BUSINESS CHARTS:

e r
Elements of business - Forms of business organizations - Procedure of incorporation of companies -

v
Classification of partners with salient features of each of them - International, National, State level and

i
Regional entrepreneurs - Hierarchy of Banking business in India - Tax administration in India - Various
taxes imposed in India - Export and import procedure - Purpose and powers of authorities like RBI, SEBI,
IRDA, ROC.

U n
COMMERCE LAB FACILITIES:
i) Colleges are required to provide a commerce lab containing all the documents related to commerce and
facilities as, computer, printer, OHP, LCD Projector with sufficient furniture.
ii) Teachers should practically explain the documents and help in filling the same in the simulated
environment.
iii) Students are required to do the above personally and gain the knowledge of filling the above documents
and the same are to be kept in a portfolio.
iv) At the end of semester, the portfolios would be evaluated by the external examiner designated by the
Controller of Examinations, Osmania University, from the panel submitted by the Board of Studies in
Commerce. The Examiner would evaluate the portfolio for a maximum of 35 marks and conduct viva-voce
examination for 15 marks. The award lists duly signed are to be sent the Controller of Examinations.
*the student has to collect the various documents prepare activity charts and submit the same in the
form of a record.

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BC 607: FINANCIAL INSTITUTIONS AND MARKETS

Paper: BC607 Max. Marks: 80 + 20
PPW: 4 Hours Exam Duration: 3 Hours
Objective: To familiarize with various Financial Institutions and Markets.
UNIT-I: INDIAN FINANCIAL SYSTEM:
Components – Functions – Flow of Funds Matrix – Financial System and Economic Development –
Recent Developments in Indian Financial System – Weaknesses of Indian Financial System.
UNIT-II: FINANCIAL INSTITUTIONS:
Commercial Banking: Types – Functions – Lending by Commercial Banks – Recent Developments
– Merchant Banking-functions—Venture Capital—objectives--Private Equity–role in start-ups—
Hire purchase and leasing—Non-banking Finance Companies: Types – Functions.
UNIT-III: MONEY MARKET:
Functions of Money Market – Organization of Money Market – Dealers – Money Market
Instruments – RBI – Functions - Role of RBI in Money Market - LAF (Liquidity Adjustment
te s
Facility), MSF (Marginal Standing Facility), Repo, and Reverse Repo – MPC (Monetary Policy
Committee) – Structure and Functions.

d a
p
UNIT-IV: DEBT MARKET:
Evolution of Debt Markets in India - Money Market & Debt Market in India – Instruments and

U
Players in Debt Market: Government Securities - PSU Bonds - Corporate Bonds - Securities
Trading Corporation of India - Primary Dealers in Government Securities – Bonds: Features of
Bonds - Types of Bonds - Bond Ratings.

y
UNIT-V: EQUITY MARKET:

s i t
Meaning - Development of Equity Culture in India – Primary Market: IPO and FPO – Methods of

e r
IPO - Role of Merchant Bankers in Fixing the Price - Red Herring Prospectus – Sweat Equity -
ESOP – Rights Issue – Secondary Market: Meaning and Functions of Stock Exchanges - Evolution
and Growth of Stock Exchanges - Stock Exchanges in India - Recent Developments in Indian Stock

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B.Com (Tax Practices & Procedures) (CBCS) Faculty of Commerce, O.U.

BCT 608: TAX PRACTICES & PROCEDURES

Paper: BCT608 Max. Marks: 80+20
PPW: 4 Hours Exam Duration: 3 Hours
Objective: To provide basic knowledge of tax practices & procedures.
UNIT-I: TAX PLANNING, TAX MANAGEMENT, TAX EVASION, TAX AVOIDANCE:
Types of companies - Residential status of companies and tax incidence - clubbing tax liability and
minimum alternate tax - carry forward and set off of losses in case of certain companies- deductions
available to corporate assesses.
Tax on distributed profits- Units of mutual funds.
UNIT-II: TAX PLANNING WITH REFERENCE TO SETTING UP OF NEW BUSINESS:
Location of Business- Nature of business – from of organization-Tax planning with reference to
financial management decision – Capital structure, dividend and bonus shares- Tax planning with
reference to sale of scientific research assets.
UNIT-III: TAX PLANNING WITH REFERENCE TO SPECIFIC MANAGEMENT

te s
DECISIONS:
Make or buy - own or lease – repair or replace – Tax planning with reference to employees’

d a
remuneration – Tax planning with reference to receipt of insurance compensation – tax planning
with reference to distribution of assets at the time of liquidation.
UNIT-IV: TAX PLANNING IN RESPECT OF NON-RESIDENTS:

U p
Taxable income for non-residents – interest- salaries and exemptions from tax to non-residents –

t y
Double taxation relief – Provisions –Regulating transfer pricing – Computation of Arm’s length
pricing – Advance rulings – Advance Pricing agreement.

i
s
UNIT-V: TAX PLANNING - INDIVIDUALS:

e r
Planning with reference to all five heads of Income for individuals – Salaries - House property -
Profits from Business & Profession – Capital gains and other sources (Theory and Simple
Problems).
SUGGESTED READINGS:
1.

n i v
Singhania, Vinod K. and Monica Singhania: Corporate Tax Planning , Taxmann Publications Pvt. Ltd. New
Delhi.

U
2. Ahuja, Girish and Ravi Gupta: Corporata Tax Planning and Management, Bharat Law House, Delhi.
3. Acharya, Shuklendra and M.G. Gurha: Tax Planning , Modern Law Publications, Allahabad.
4. Mittal, D.P. Law of Transfer Pricing: Taxmann Publication Pvt.Ltd. New Delhi..
5. IAS – 12 and As - 22.
6. T.P. Ghosh: IFTSs: Taxmann Publications Pvt. Ltd. New Delhi..
7. Shashi K. Gupta & Nisha Aggarwal, Financial Services. Kalyani Publishers, New Delhi, India.
8. Vinod Kumar, Atul Gupta & Manmeet Kaur, Financial Markets, Institutions & Financial Services, Taxmann’s
Publications, New Delhi, India.

***********

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