Course Outline Income Tax Law

INCOME TAX LAW

Instructor: Faisal Javed


After the completion of core courses




The Knowledge of tax laws is essential for a successful business manager. This course is designed to
equip the students with tax structure and laws of Pakistan. The course would inter alia focus on Ìncome
Tax Laws with special emphasis on overview of taxation, computation of taxable income under different
heads, filing of tax returns, assessment of taxable income, Wealth statement, appellate structure and
different offences and prosecution thereof and administrative hierarchy of FBR. This course has a
broader coverage. Ìmportant provisions regarding Sales tax law shall also be discussed in this course.
Now-a-days the knowledge regarding sales tax is necessary because Government is emphasising upon
indirect taxes and especially Sales Tax. Concepts of Sales Tax like Sales Tax Receipt, Ìnput Tax, Output
Tax, Calculation of Tax and Registration shall be discussed in this course.


After studying this course the students should be able to:


To give knowledge to the participants about Ìncome Tax statue of Pakistan.
After completing this course students should be able to prepare and file returns.
To make the participants capable to E-file.
To make students capable of make Wealth Statement.
Students should be able to calculate tax under different heads of income.
To give students important information regarding Sales Tax Laws.
Students shall know that who has to get registered under Sales Tax Laws.
They shall know how to calculate Sales Tax.
Students should be able to handle different issues regarding Ìncome Tax which they might
come across while being an employee somewhere or doing their own business.





, Lectures:
Lectures are the most effective technique to deliver knowledge to the students. Ìn this course cross
questioning and discussion tools shall be used to make it more effective.
b Assignments:
Assignments play a very effective role in improving comprehension level of students. Multiple assignments
shall be given related to practical taxation matters and students shall be assessed upon those.
c C,se studies:
Analysis and Synthesis level can be achieved through case studies. As the teacher to this course is related
to the concerned practical field hence different cases shall be discussed as examples at the concerned
lectures. Furthermore three major cases shall also be discussed as mentioned hereunder.
d Present,tion:
To enhance confidence and improve the communication skills of the students there shall be a class
presentation at the topic given for the second assignment.
e Quiz:
Quiz shall be taken regularly during the course so that the students shall keep tune with the course. The
Quiz could be pre announced or surprise.









Ìncome Tax Ordinance 2001, latest edition. Publisher- Pakistan Law Associates, Lahore.
Sales Tax Act 1990, latest edition by Faiz-ur-Rehman. Publisher Nadeem Law Book House.
Practical handbook of income tax by Huzaima & Ìkram publisher by AA publishers.

Journals:
Taxation
Tax Forum
News Papers/Articles:




www.fbr.gov.pk


Exam Type Percentage (%)
"uiz 10
Class participation 5
Assignments 10
Project-Presentation 10
Mid Term 25
Final Term 40


eek Contents Tasks/Activities
1
Ìntroduction to Tax and Ìncome Tax. Components of Ìncome
Tax Law
Course outline
distribution
2
Ìmportant terms of Ìncome Tax
Assignment 1
3
Hierarchy of Ìncome Tax Authorities. Scope of Tax

Quiz 1, Case
Discussion
4
Scope of Tax, Ìncome from Salary


5
Ìncome from Salary
Quiz no.2
Ìncome from Property Case Discussion
7 Ìncome from Business Case Discussion
8 Mid term Mid term
9 Ìncome from Capital Gain

10 Ìncome from Other Sources. Assessment
Assignment2, Quiz 3

11
At source Deduction. Penalties on various defaults
Case Discussion
12
Appellate System of Ìncome Tax.

13
Sales Tax- Sales Tax Ìnvoices, Ìnput Tax, Output Tax
Assignment 3
14
Sales Tax on services

15
Case study

Final Project
(Equivalent to Two
Assignments)
4 & 5
1 Presentation Presentation
17 End term


Plagiarism and Intellectual Property Policy:
#eproduction of the writing or literary work or concepts or inventions of another person as one's own product without
writing proper acknowledgment to the actual author, willfully or unintentionally, is termed as plagiarism. The actual
author has a right to bring a lawsuit for unauthorized use of his/her work against the plagiarist. University of Central
Punjab discourages plagiarism and warns students to be careful while using someone else's work in their written work to
meet requirements of a course or a degree. It may be clarified that quotes which are brief or are acknowledged as quotes
do not constitute plagiarism.

Be watchful - Every written material/assignment shall come under the careful scrutiny of others. Do ensure that published
work of others is properly cited; source of unpublished material obtained from lectures, oral communication or interviews
are duly acknowledged. UCP's statutes 2004 - Clause 22 at Chapter 15 and UCP regulations 2005 - Clause 8.18 and
Clause 13 at Chapter 13 deal with plagiarism and intellectual property rights, which may be consulted by the UCP
students and employees.

A fellow students, a Faculty member or member of the UCP Administration can report any instance of plagiarism to the
Dean of the Faculty, who after ascertaining extant of Plagiarized material will determine penalty the against the student
according to UCP #egulations, 2005.

&niversity of Central Punjab, 31 Main Gulberg Lahore, Pakistan
Tel: +92-42-5755314-7, Fax +92-42-585784