Minor in Taxation | Tax

Taxation is the most important and effective instrument to activate and mobilise savings in an economy. Taxation is omni-present at global level. Deep understanding of tax regime helps in Tax planning strategies which are typically employed to help a business achieve their financial and business goals.

This Minor in Taxation aims at providing the student with a grounding in the basic concepts of taxation-Direct as well as Indirect ,Filing of Returns etc. so as to complement their existing disciplinary knowledge, enrich their educational experience, enable them to make better financial decisions, and expand their career opportunities.

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Key Information

  • Duration
    3 Years
  • Programme Code
    ST3136
  • Course Type
    Minor Degree
  • Mode of study
    Full time
  • Campus
    Vidyavihar - Mumbai
  • Institute
    S K Somaiya College
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Objectives

  • Students would gain a thorough grounding in the radical elements of Computation of Taxable Income of an Individual , Firm ,Deductions allowed under Sec 80 of Income tax Act,1961.
  • To acquaint the learners with registration process under GST.
  • To study input tax credit and computation of GST.
  • To acquaint students with e -filing of IT returns and GST Returns

Learning Outcomes

At the end of successful completion of the Minor in Taxation the student will be able to

  • CO1.Determine Residential Status of person under Income Tax Act,1961 and compute income under various heads of Income.
  • CO2.Compute Gross Taxable Income and Deduction allowed under Income Tax Act.
  • CO3.Apply provisions regarding Setoff, Carry forward, Clubbing of Income , TDS and acquaint with Returns of Income
  • CO4.To acquaint the learner with concept of supply, documentation under GST.
  • CO5.To compute input tax credit and GST under CGST/SGST/ IGST.
  • CO6.To identify types of returns, acquaint with assessment procedure, audit , payment and refund provisions under GST
Assessment Method

Class participation, Presentation, Practical, Viva/ test, End Semester Exam

List of Courses
(total credit of 20, 4 credit for each course)
  • Direct Tax I
  • Indirect Tax I
  • Direct Tax II
  • Indirect Tax II
  • E -Filing

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