The course of study of Diploma in Taxation Laws shall consist of Compulsory papers of General Laws affecting Taxation, Income Tax & Agricultural Tax, Wealth Tax, Central Sale Tax, Maharashtra Value Added Tax Act, And Book Keeping and Accountancy.
General Laws affecting Taxation:
This course is designated to provide an overview of Taxation laws from the other fields of law such as Constitution, Hindu Law, Indian Partnership Act, Transfer of Property Act, Evidence Act, Civil Procedure Code, Indian Trust Act, and Indian Succession Act. It is a mix of the freedom of trade and commerce, Mitakshara concepts, Intestate and Testamentary succession concepts of immovable property, trust and trustees and execution of wills.
Income Tax Act A & B:
This course is intended to provide an in-depth understanding of the Law relating to Income Tax through the study of the Indian Income Tax Act, 1961 as amended up-to-date. Emphasis is given on solving practical problems and case studies. Part B includes Banking Cash Transaction Act 2005.
Wealth Tax , Central Excise Act and Service Tax :
A purely statute oriented course, it deals with two Acts- The Wealth Tax Act,1961 and The Central Excise Act, 1944 as amended up-to-date. Both Acts are dissected and discussed in great detail to enable to student to have comprehensive knowledge of the subject. Provision of Finance Act 1994 relating to Service Tax & Service Tax Rules including credit of Service Tax have also been included.
Central Sales Tax Act and Maharashtra Value Added Tax Act 2002:
The Sales Tax, being fundamental to Indian, affects all areas of life and all consumers and manufactures alike. This Course deals with the Central Sales Tax Act, 1956 as amended up-to-date. The syllabus also includes the concepts of buyer, delivery, specific goods, contract of sale and agreement to sell and other topics of the Sale of Goods Act. Maharashtra Value Added Tax Act 2002 and Rules and notification framed there under has also been made part of the syllabus.
Book Keeping and Accountancy:
To complement the other subjects, this is a basic course on the principles of accountancy. It starts with the fundamentals like double entry book keeping, Bills, types of accounts like manufacturing and Profit and Loss account, Balance Sheet followed by Partnership accounts, consignments and joint ventures, company accounts and valuation of depreciation and goodwill.