New Syllabus CS Executive New Syllabus Tax Laws Important Topics

CS Executive New Syllabus Tax Laws Important Topics

CS Executive New Syllabus Tax Laws Important Topics. In the previous post, we have given tips on How to Prepare CS Executive New Syllabus Tax Laws. Today we are providing important Topics and Questions which should be prepare very well for CS Executive New Syllabus Tax Laws Paper.Scroll Down

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CHAPTER WISE IMPORTANT TOPICS : Part I: Direct Tax (50 Marks)

Note: As December 2018 Exam is First Attempt of CS Exams New Syllabus, We are providing you a Broader List of Important Topics so that you do not miss out on anything. Also this List is made keeping into view ICSI Study Material.

CS Executive New Syllabus Tax Laws Important Topics : Direct Taxes at a Glance
  1. Characteristic of Good Taxation System
  2. Canons Of Taxes
  3. Economic significance of taxes
  4. Differences between direct and indirect taxes
  5. Briefly explain the tax structure in India
CS Executive New Syllabus Tax Laws Important Topics : Basic concepts of Income Tax
  1. Definition of Assessee, Assessment Year, Previous Year
  2. Capital And Revenue Receipts
  3. Residential Status
  4. Test Of Residency For Individuals, HUF And Company
  5. Guiding Principles for Determination of Place of Effective Management (POEM) of a Company
  6. Meaning And Scope Of Total Income
  7. Income deemed to accrue or arise in India
  8. Tax incidence vis-a-vis residential status
  9. Computation Of Taxable Income And Tax Liability Of An Assessee
  10. Tax Rates
  11. Distinguish between Resident and Not Ordinary Resident
CS Executive New Syllabus Tax Laws Important Topics : Incomes which do not form part of Total Income
(All such incomes are equally important but these are few of the most important; Most of them you will understand when you study Heads of Income)

  1. Agricultural Income
  2. Income from growing and manufacturing of tea
  3. Share of profit received by a partner from the firm
  4. Interest to non-residents
  5. Interest on notified savings certificates
  6. Leave travel concession
  7. Salary of a foreign employee and non-resident member of crew
  8. Retrenchment compensation
  9. Partial withdrawal from NPS
  10. Allowances for meeting business expenditure
  11. Income of Minor
  12. Section 10AA

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CS Executive New Syllabus Tax Laws Important Topics : SALARY
  1. Basis Of Charge
  2. Fully Taxable Allowances
  3. Allowances not fully taxable
  4. Special Allowances u/s 10(14)
  5. Treatment of Commuted Pension
  6. Gratuity
  7. Leave Encashment
  8. Perquisites
  9. Motor Cars – Perquistier Valuation
  10. Provident Funds
  11. Deductions From Salary
CS Executive New Syllabus Tax Laws Important Topics : HOUSE PROPERTY
  1. Determination Of Annual Value
  2. Deemed to be let-out property
  3. Notional income from house property held as stock in trade
  4. Deemed Ownership
  5. What is the meaning of ‘Owner of House Property’ under Section 27 of the Income-tax Act, 1961?
  6. In computing the income from house property what deductions are allowed from the net annual value?
  7. How would you deal with the following while calculating the income under ‘Income from house property’: (a) Annual Charge. (b) Vacancy Allowance. (c) Unrealised Rent. (d) Income from house property situated in a foreign country.
  8. Distinguish between Standard Rent and Expected Rent, Fair Rent and Annual Rent
CS Executive New Syllabus Tax Laws Important Topics : PROFIT AND GAINS FROM BUSINESS/PROFESSION
  1. Income Chargeable To Tax Under The Head Business Or Profession
  2. Speculation Business
  3. Ownership of Business is not Necessary for Taxability
  4. Computation Of Profits Of Business Or Profession
  5. Computation Of Income Under The Head “Profits And Gains From Business Or Profession
  6. Depreciation
  7. Repairs and insurance for Plant & Machinery, Furniture
  8. Meaning of Block of Assets
  9. Actual Cost
  10. Calculation of Written Down Value of a block of asset
  11. Scientific Research
  12. Amortization of Preliminary Expenses
  13. Certain Allowable Losses
  14. Expenses Disallowed
  15. Expenses Restricted
  16. Deemed Profits
  17. Special Provision For Computing Profits And Gains Of Business On Presumptive Basis

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CS Executive New Syllabus Tax Laws Important Topics : CAPITAL GAIN
  1. Capital Asset
  2. Short-Term & Long-Term Assets
  3. What doesn’t constitute Transfer?
  4. Mode Of Computation
  5. Capital Gains for Depreciable Assets
  6. Capital Gains in respect of Slump Sale
  7. Exemption Of Capital Gains
  8. Capital Gain on Transfer of Residential House Property
  9. Tax Rates
  10. Distinguish between ‘Exemption to capital gains under section 54G’ and ‘exemption to capital gains under section 54GA’
  11. Taxation of zero coupon bonds
CS Executive New Syllabus Tax Laws Important Topics : INCOME FROM OTHER SOURCES
  1. Income Chargeable Under The Head ‘Income From Other Sources’
  2. Casual Income
  3. Taxation Of Dividends
  4. Deductions Allowable
  5. Amounts Not Deductible
CS Executive New Syllabus Tax Laws Important Topics : Clubbing provisions and Set Off and / or Carry Forward of Losses
  1. Transfer Of Income
  2. Income Of Spouse
  3. Transfer For Immediate Or Deferred Benefit Of Son’s Wife
  4. Clubbing Of Income Of Minor Child
  5. Summary Of The Clubbing Provision
  6. Set-Off
  7. Carry-Forward Of Losses
  8. Order of Set-off of losses
  9. Section 72A

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CS Executive New Syllabus Tax Laws Important Topics : Deductions from Gross Total Income & Rebate and Relief
  1. Deduction in respect of investments
  2. Deduction for Contribution to Pension Fund
  3. Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability
  4. Section 80GGA
  5. Section 80-IB
  6. Relief And Rebate In Respect Of Income-Tax
  7. What conditions are to be satisfied in order to claim a deduction for donations made to certain funds or/ and charitable institutions?
  8. Summary of Deductions under Chapter VI-A
CS Executive New Syllabus Tax Laws Important Topics : Computation of Total Income and Tax Liability of various entities
  1. Taxation Of Individuals
  2. Taxation Of Hindu Undivided Families
  3. Partition of a Hindu undivided family
  4. Taxation Of Firms
  5. Alternate Minimum Tax (Amt)
  6. Electoral Trust
  7. Explain the terms ‘Partition’, ‘Partial Partition’, and ‘Co-parceners’.
  8. What is meant by Association of Persons? How is it formed?
  9. Explain the difference between the change in constitution and succession of a firm.
  10. What is the New Scheme of Taxation of a firm?
  11. “Urban Consumers” Co-operative Society”
  12. Explain the deductions which are allowed under Section 80P to arrive at the total income of a cooperative society.
CS Executive New Syllabus Tax Laws Important Topics : Classification and Tax Incidence on Companies
  1. Tax Incidence Under Income Tax Act, 1961
  2. Corporate Taxation Rates
  3. Minimum Alternate Tax (Mat)
  4. Calculation of Book Profit
  5. Mat Credit
  6. Dividend Distribution Tax
  7. Carbon Credit
  8. Equalisation Levy
  9. Tax Liability Of Companies In The Event Of Liquidation
  10. Taxation Aspects Of Amalgamations, Mergers And Demergers

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CS Executive New Syllabus Tax Laws Important Topics : Procedural Compliance
  1. Tax Deduction Account Number
  2. Tax Deducted At Source and its objectives
  3. Premature Withdrawal from Employees’ Provident Fund Scheme
  4. Winnings from Lotteries or Crossword Puzzles
  5. Winnings from Horse Races
  6. Tax Collection At Source
  7. Time Limit For The Payment Of TDS To The Government
  8. TDS Return
  9. Advance Payment Of Tax
  10. Self-Assessment Tax
  11. Return Of Income
  12. Exemption from filing of Return of Income
  13. Interest for belated payment of Income-Tax
  14. Refunds
CS Executive New Syllabus Tax Laws Important Topics : Assessment, Appeals & Revision
  1. Types Of Assessment
  2. Best Judgment Assessment
  3. Period Of Limitation To Prefer An Appeal
  4. Powers Of The Commissioner (Appeals)
  5. Revision By The Commissioner Of Income Tax
  6. Revision Of Order In The Interest Of Assessee
  7. Circumstances In Which No Revision Can Be Made
  8. Summary Of Appeals
  9. Under what circumstances is the Assessing Officer empowered to reopen the assessment made by him?
  10. Explain the provisions with respect to appeals and revisions with reference to tax planning.
  11. Compliance with legal formalities is less costly than the payment of penalty or interest due on taxes. Explain the statement briefing the defaults and penalties under the Income-tax Act.

Part II: Indirect Tax (50 Marks)

Goods and Service Tax

CS Executive New Syllabus Tax Laws Important Topics : Concept of Indirect Taxes at a glance
  1. Article 246A
  2. Goods And Services Tax Council
  3. Pre Gst Tax Structure & Deficiencies
  4. Icsi-Gst Initiatives
  5. Discuss the administrative machinery of GST in India.
  6. Briefly discuss the Model of GST followed in India.
CS Executive New Syllabus Tax Laws Important Topics : Basics of Goods and Services Tax ‘GST’
  1. Presently not taxable under GST
  2. Outside the scope of GST
  3. Concept Of Supply – Schedule I, II and III
  4. Composite & Mixed Supply
  5. Composition Scheme
  6. Reverse Charge Mechanism
  7. Exemptions under GST
  8. Distinguish between General and Specific Exemptions.
CS Executive New Syllabus Tax Laws Important Topics : Concept of Time, Value & Place of Taxable Supply
  1. Place Of Supply
  2. Time Of Supply
  3. Value Of Taxable Supply
  4. Discuss the treatment of discounts in determining the value of supplies
  5. List out the supplies which are in the nature of interstate supply under IGST Act, 2017

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CS Executive New Syllabus Tax Laws Important Topics : Input Tax Credit & Computation of GST Liability- Overview
  1. Eligibility And Conditions For Taking Input Tax Credit
  2. Apportionment of credit and blocked credits
  3. Availability of Input Tax Credit in Special Cases
  4. Goods Sent To Job Worker
  5. Input Service Distributor
  6. Utilization of ITC
CS Executive New Syllabus Tax Laws Important Topics : Procedural Compliance under GST
  1. Persons liable for Registration
  2. Persons not liable to register
  3. Cancellation of Registration
  4. Revocation of cancellation of registration
  5. Credit / Debit Notes
  6. Delivery Challan
  7. Period of retention of accounts
  8. Electronic Way Bills
  9. Payment of tax
  10. Electronic Cash and Credit Ledger
  11. Refund of tax
  12. Refund of unutilised input tax credit
  13. Special Audit
  14. Discuss types of Audit under the GST Law
  15. What are the provisions of Interest on delayed refunds?
CS Executive New Syllabus Tax Laws Important Topics : Basic overview on Integrated Goods and Service Tax (IGST), Union Territory Goods and Service tax (UTGST), and GST Compensation to States
  1. Relevance of IGST
  2. Levy and Collection Under IGST, Act 2017
  3. Applicability Of The UTGST Act, 2017
  4. Exemption From Gst
  5. Input Tax Credit On Input Stocks
  6. Switch Over From Composition Levy
  7. Advance Ruling
  8. Salient Features Of GST (Compensation To States) Act, 2017
  9. Base Year Revenue
  10. What is the working mechanism to compensate states under GST (Compensation to States) Act, 2017? Who are the authorities under UTGST Act, 2017?

Customs Act

CS Executive New Syllabus Tax Laws Important Topics : Overview of Customs Act
  1. Types Of Customs Duties
  2. Valuation for Customs Duty and its Rules
  3. Administration Of Customs Law
  4. Procedure for Import through Sea Route
  5. Procedure for Export through Sea Route
  6. Transit and Transhipment
  7. Warehousing
  8. Duty Drawback
  9. Refund
  10. Settlement Commission

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CS Executive New Syllabus Tax Laws :

This paper consists of two parts, namely Direct Tax and Indirect Tax.

The purpose of this subject is to impart conceptual understanding to the students of the provisions of the Direct Tax Laws (Income Tax) and Indirect Tax Laws (GST and Customs)

Company Secretaryship, being a professional course, the examination standards are set very high, with emphasis on knowledge of concepts, their applications, procedures under the tax laws and case laws therein.

Various tax implications may come into use in the corporate world and hence a CS should be well aware with the latest tax laws and amendments.

CS Executive New Syllabus Tax Laws Important Topics : Important Topics of CS Executive New Syllabus Exam

Here we are providing subject wise important topics to CS Executive students. See below How to prepare CS Executive Module – 1 and Module – 2. Click below links

CS Executive New Syllabus Module 1 Important Topics

How to Prepare CS Executive New Syllabus Module 1 ?

  1. CS Executive New Syllabus Company Law Important Topics
  2. CS Executive Jurisprudence Interpretation and General Laws Important Topics
  3. CS Executive New Syllabus Tax Laws Important Topics
  4. CS Executive Setting Up of Business Entities and Closure Important Topics
  1. How to Prepare CS Executive New Syllabus Company Law ?
  2. How to Prepare CS Executive Jurisprudence Interpretation and General Laws ?
  3. How to Prepare CS Executive New Syllabus Tax Laws ?
  4. How to Prepare CS Executive Setting Up of Business Entities and Closure ?

CS Executive New Syllabus Module 2 Important Topics

How to Prepare CS Executive New Syllabus Module 2

  1. CS Executive Securities Laws and Capital Market Important Topics
  2. CS Executive Corporate and Management Accounting Important Topics Important Topics
  3. CS Executive Financial and Strategic Management Important Topics
  4. CS Executive Economic Business and Commercial Laws Important Topics
  1. How to Prepare CS Executive Securities Laws and Capital Market ?
  2. How to Prepare CS Executive Corporate and Management Accounting Important Topics ?
  3. How to Prepare CS Executive Financial and Strategic Management ?
  4. How to Prepare CS Executive Economic Business and Commercial Laws ?
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