Law of Income Tax & VAT


Law of Income Tax & VAT

Income Tax:

Evolution and Importance of Taxation Jurisprudence, Characteristics, Historical Background of Income Tax Law in Bangladesh, Definition, Features and Role; Characteristics of Tax, Objectives of Tax, Cannon of Taxation, Classification of Tax, Role of Tax in the Economic Development of a Country, Structure and the Scope of the Income Tax Law, Arguments in favour of and against Income Tax, Adverse Impact of Income Tax.

Income: Definition, Characteristics, Total Income and Total World Income.

Tax Assessment: Assessment Procedure, Modes of Payment of Tax before Assessment.

Tax Holiday Scheme: History, Objectives and Scope.

Assessee and residential Status: Definition and Classification of Assessee, Meaning of Residential Status, Determination of Residential Status.

Income Tax Authorities: Administrative and Judicial Authorities.

Income Year, Assessment year and Tax Rate: definitions and importance.

Income from Salary

Income from House Property

Income from Securities

Income from Business and Profession

Assessment of Individual

Offences and Penalties

Tax Evasion and Tax Avoidance

Law of Gift Tax: Essentials and Valuation of Gifts, Exemptions and Assessment of Gift Tax,

Value Added Tax (VAT): Definition of VAT, Arguments in favour of and against VAT, Goods and Services subject to VAT in Bangladesh, Goods and Services exempted from VAT, VAT Administration, Duties and responsibilities of VAT Assessee.

Customs: What is Customs, Exemptions from Customs Duty;

Comparative taxation law: Comparison between taxation law of UK, USA, Australia, Canada, India, Pakistan and Bangladesh;  General Law on Taxation and Islamic Taxation Law;

Relevant Laws:

1. The Income Tax Ordinance, 1984

2. The Value Added Tax (VAT) Act, 1991

3. The Customs Act, 1969

Books Recommended:

1. Income Tax by Dr. Monjur Morshed Mahmud

2. A Commentary on Income Tax Law by M. Nurunnabi

3. Law and Practice of Income Tax Law in Bangladesh by M A Bari

4. Understanding Income Tax Law by Md. Abdul Halim

5. National Board of Revenue, Bangladesh: http://www.nbr-bd.org/publication.html

6. Students’ Guide to Income Tax (including Service Tax/VAT) by Dr. Vinod K.

Singhania and Dr. Monica Singhania

7. Direct Taxes- Law and Practice By Dr Vinod K Singhania ,Dr Kapil Singhania

8.   Value added tax: a comparative approach by By Alan Schenk, Oliver Oldman

9. United States tax reform in the 21st century by By George R. Zodrow, Peter

M. Mieszkowski

10. The taxation of international entertainers and athletes: all the world’s a stage by By

Daniel Sandler

11. Bangladesh Taxation Laws with Professional Practice by S.K. Bala and S.M. Miraj

12. Income Tax: Law and Practice by A.H Shahadutullah

13. A Comentary on Income Tax Law by M. Nurunnnabi

14. Summery of Taxation Rules in Bangladesh by MCCI, Dhaka

15. Income Tax Manual by Mahbubur Rahman

16. The Customs Act, 1969 by Md. Shafiqul Islam

Leading Cases:

1. CIT V. Saw Wallace & Co. (1932)

2. Rani Amrit Kunwar V. CIT (1949) ITR 561

3. CIT V. Jagabandhu Saha Roy (1968)

(Also Additional Books, Journal Articles, Contemporary cases, materials form Websites will be discussed by the Course Teacher Concerned)