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B-COM in Income Tax at S.J.M.V. Mahant First Grade Arts & Commerce College
Dharwad, Karnataka
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About the Specialization
What is Income Tax at S.J.M.V. Mahant First Grade Arts & Commerce College Dharwad?
This Taxation specialization program at SJMV Mahantha First Grade Arts and Commerce College, affiliated with Karnatak University Dharwad, focuses on equipping students with comprehensive knowledge in direct and indirect taxation. It delves into the intricacies of Indian tax laws, including Income Tax and Goods and Services Tax (GST), which are critical for navigating the country''''s dynamic economic landscape. The program emphasizes practical application and aims to build a strong foundation for a career in tax compliance, planning, and advisory roles within the Indian industry.
Who Should Apply?
This program is ideal for fresh graduates seeking entry into accounting, finance, and taxation departments of Indian companies. It also caters to aspiring tax consultants, auditors, and financial analysts who wish to specialize in the complex field of taxation. Students with a keen interest in legal compliance and financial regulations, along with strong analytical skills, will find this specialization particularly rewarding for their career trajectory in India.
Why Choose This Course?
Graduates of this program can expect to pursue India-specific career paths such as Tax Consultant, Income Tax Officer (after competitive exams), GST Practitioner, Financial Analyst, or Auditor in both public and private sectors. Entry-level salaries typically range from INR 2.5 LPA to 4.5 LPA, with experienced professionals earning upwards of INR 8-15 LPA. The program aligns with professional certifications like the CA, CS, and CMA exams, offering a strong academic base for further professional growth in Indian companies.
Student Success Practices
Foundation Stage
Build a Strong Core Accounting Base- (Semester 1-2)
Focus on mastering financial accounting and business statistics fundamentals. Regularly practice numerical problems from textbooks and previous year question papers to strengthen conceptual clarity and analytical skills, which are crucial for advanced taxation subjects.
Tools & Resources
Textbooks prescribed by KUD, Previous year question papers, Online tutorials for accounting concepts
Career Connection
A robust foundation in accounting is essential for understanding the taxable income and financial statements, directly impacting success in tax compliance and advisory roles.
Develop Proficiency in MS-Office & Basic Computers- (Semester 1-2)
Actively use MS-Excel for data entry, calculations, and basic financial modeling. Practice creating professional documents in MS-Word for reports and presentations. Familiarity with computer fundamentals is indispensable for digital tax filing and business operations in India.
Tools & Resources
Microsoft Excel, MS-Word, Online courses on basic computer skills
Career Connection
These skills are non-negotiable for all entry-level commerce roles and directly support efficiency in tax data management and reporting.
Engage in Peer Learning and Discussion Groups- (Semester 1-2)
Form study groups to discuss complex topics in economics, statistics, and financial systems. Collaborative problem-solving and explaining concepts to peers can deepen understanding and improve communication skills, vital for future professional interactions.
Tools & Resources
College library, Dedicated study rooms, Online collaboration platforms like Google Docs
Career Connection
Enhances critical thinking and teamwork, which are highly valued in corporate environments for collaborative project work and problem resolution.
Intermediate Stage
Master Income Tax and GST Concepts- (Semester 3-5)
Dedicate significant time to understanding the nuances of Income Tax Law and Goods and Services Tax. Solve case studies and practical problems extensively. Stay updated with amendments to tax laws through official government notifications and reputable financial news sources.
Tools & Resources
Bare Acts for Income Tax and GST, Taxmann''''s Modules, Indian Tax Review Journals, Official CBIC and CBDT websites
Career Connection
Directly builds expertise for roles as a tax consultant, auditor, or compliance officer, making you job-ready for the Indian tax ecosystem.
Learn Tally ERP and Business Software- (Semester 4-5)
Gain hands-on experience with Tally ERP for accounting and basic GST compliance procedures. Explore other business applications relevant to financial management and auditing. This practical software proficiency is highly sought after by Indian employers.
Tools & Resources
Tally ERP software, Online Tally tutorials, College computer labs
Career Connection
Essential for processing financial transactions, managing accounts, and ensuring tax compliance in various Indian businesses, boosting employability.
Pursue Short-Term Certifications and Internships- (Semester 3-5)
Look for short-term certifications in taxation, financial modeling, or data analytics. Secure internships during semester breaks with local CA firms, tax consultancies, or corporate finance departments. This provides invaluable real-world exposure to Indian business practices.
Tools & Resources
NISM certifications, Online courses (Coursera, Udemy), College placement cell for internships
Career Connection
Practical experience and additional certifications significantly enhance resume strength, leading to better placement opportunities and industry relevance.
Advanced Stage
Undertake a Comprehensive Taxation Project- (Semester 6)
For your final semester project, choose a topic related to recent tax reforms, international taxation, or complex tax planning strategies in India. Conduct thorough research, collect data, and present your findings professionally. This demonstrates specialized expertise.
Tools & Resources
Research databases, Company annual reports, Expert interviews, Statistical analysis software
Career Connection
A well-executed project showcases problem-solving abilities and specialized knowledge, making you a strong candidate for tax advisory and research roles.
Prepare for Professional Exams and Placements- (Semester 5-6)
Start preparing for competitive exams like the CA, CMA, CS, or government tax officer exams (e.g., UPSC, state PSC) if aspiring for those careers. Actively participate in campus placement drives, hone interview skills, and tailor your resume to tax-specific roles.
Tools & Resources
Coaching institutes, Mock interviews, Resume building workshops, Placement cell guidance
Career Connection
Focused preparation directly leads to securing desired roles in top accounting firms, corporations, or government organizations after graduation.
Network with Industry Professionals and Alumni- (Semester 5-6)
Attend industry seminars, webinars, and workshops related to taxation. Connect with tax professionals and college alumni on platforms like LinkedIn. These networks can provide mentorship, job leads, and insights into the evolving Indian tax landscape.
Tools & Resources
LinkedIn, Professional body events (ICAI, ICSI), College alumni association events
Career Connection
Building a strong professional network is vital for career advancement, mentorship, and discovering hidden job opportunities in the specialized field of taxation.
Program Structure and Curriculum
Eligibility:
- Passed Two-year Pre-University Examination or equivalent recognized by Karnatak University Dharwad
Duration: 3 years / 6 semesters
Credits: 140 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BA101 | Indian Financial System | Core | 4 | Financial System Overview, Reserve Bank of India & Monetary Policy, Financial Markets, Commercial Banking, Non-Banking Financial Companies |
| BA102 | Financial Accounting - I | Core | 4 | Introduction to Accounting, Accounting Principles and Concepts, Accounting Process, Preparation of Financial Statements, Depreciation Accounting |
| BA103 | Business Statistics | Core | 4 | Introduction to Statistics, Measures of Central Tendency, Measures of Dispersion, Correlation Analysis, Regression Analysis |
| BA104 | Business Economics | Core | 4 | Introduction to Business Economics, Consumer Behavior, Production and Cost Analysis, Market Structures, National Income Concepts |
| BA105 | Fundamentals of Computer | Core | 4 | Introduction to Computers, Operating Systems, MS-Office Suite, Internet and E-mail Concepts, Data Security |
| BA106 | English | Compulsory | 4 | Grammar and Usage, Reading Comprehension, Communication Skills, Business Correspondence, Report Writing |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BA201 | Principles and Practice of Banking | Core | 4 | Banking System in India, Commercial Banks, Reserve Bank of India, Negotiable Instruments, E-Banking and Digital Payments |
| BA202 | Financial Accounting - II | Core | 4 | Partnership Accounts, Dissolution of Partnership Firms, Hire Purchase System, Installment Payment System, Branch Accounts |
| BA203 | Marketing Management | Core | 4 | Introduction to Marketing, Marketing Mix, Product and Pricing Decisions, Promotion and Distribution, Consumer Behavior |
| BA204 | Business Environment | Core | 4 | Components of Business Environment, Economic Environment, Political and Legal Environment, Social and Cultural Environment, Technological Environment |
| BA205 | Corporate Administration | Core | 4 | Company Formation, Types of Companies, Memorandum & Articles of Association, Share Capital and Debentures, Company Meetings |
| BA206 | Indian Language (Kannada/Hindi) | Compulsory | 4 | Grammar and Vocabulary, Prose and Poetry, Letter Writing, Composition, Translation |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BA301 | Cost Accounting - I | Core | 4 | Introduction to Cost Accounting, Elements of Cost, Material Cost Control, Labour Costing, Overhead Costing |
| BA302 | Company Law | Core | 4 | Introduction to Company Law, Incorporation of Companies, Shares and Debentures, Management and Administration, Winding Up of Companies |
| BA303 | Entrepreneurship Development | Core | 4 | Concepts of Entrepreneurship, Entrepreneurial Process, Business Plan Formulation, Sources of Finance, Government Support to Entrepreneurs |
| BA304 | Business Communication | Core | 4 | Principles of Effective Communication, Verbal and Non-verbal Communication, Written Communication, Oral Communication Skills, Barriers to Communication |
| BA305 | Indian Constitution | Compulsory | 2 | Preamble and Basic Features, Fundamental Rights and Duties, Directive Principles of State Policy, Union and State Government, Judiciary in India |
| BA306 | Environmental Studies | Compulsory | 2 | Natural Resources, Ecosystems and Biodiversity, Environmental Pollution, Social Issues and the Environment, Environmental Protection Acts |
| BA307 | Skill Enhancement Course (SEC) | Skill Based | 2 | Computer Skills for Business, Presentation Skills, Analytical Skills, Professional Ethics, Digital Literacy |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BA401 | Cost Accounting - II | Core | 4 | Process Costing, Joint and By-Products, Standard Costing, Variance Analysis, Budgetary Control |
| BA402 | Income Tax Law - I | Core | 4 | Basic Concepts of Income Tax, Residential Status, Exempted Incomes, Income from Salaries, Income from House Property |
| BA403 | Financial Management | Core | 4 | Introduction to Financial Management, Time Value of Money, Capital Budgeting Decisions, Cost of Capital, Working Capital Management |
| BA404 | E-Commerce | Core | 4 | Introduction to E-Commerce, E-Business Models, E-Payment Systems, E-Marketing and Advertising, Cyber Security in E-Commerce |
| BA405 | Computer Application in Business | Core | 4 | Advanced MS-Excel, Database Management Systems, Tally ERP (Accounting Software), Data Analysis Tools, Business Report Generation |
| BA406 | Skill Enhancement Course (SEC) | Skill Based | 2 | Advanced Digital Tools, Project Management Basics, Data Visualization, Professional Networking, Entrepreneurial Skills |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BA501 | Management Accounting | Core | 4 | Introduction to Management Accounting, Financial Statement Analysis, Ratio Analysis, Fund Flow Statement, Cash Flow Statement |
| BA502 | Income Tax Law - II | Core | 4 | Profits & Gains of Business or Profession, Capital Gains, Income from Other Sources, Clubbing of Income and Set-off of Losses, Deductions from Gross Total Income |
| BA503 | Goods and Services Tax | Core | 4 | Introduction to GST, Levy and Collection of GST, Time and Value of Supply, Input Tax Credit, Registration and Returns under GST |
| BA504 | Auditing & Corporate Governance | Core | 4 | Introduction to Auditing, Types of Audit, Audit Procedures, Internal Control System, Principles of Corporate Governance |
| BA505 | Elective-I Taxation-I (Direct Tax Planning) | Elective | 4 | Concepts of Tax Planning, Tax Avoidance vs. Tax Evasion, Tax Planning for Individuals, Tax Planning for Firms, Tax Planning for Companies |
| BA506 | Elective-II Taxation-II (Goods & Service Tax - II) | Elective | 4 | Place of Supply Rules, E-Way Bill System, GST Council and its Functions, Assessment and Audit under GST, Appeals and Revisions under GST |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BA601 | International Business | Core | 4 | Introduction to International Business, Theories of International Trade, Foreign Exchange Markets, Global Business Environment, International Economic Institutions |
| BA602 | Rural Development & Co-operation | Core | 4 | Concepts of Rural Development, Rural Economy in India, Rural Poverty and Unemployment, Microfinance for Rural Development, Co-operative Movement in India |
| BA603 | Research Methodology | Core | 4 | Introduction to Business Research, Research Design, Data Collection Methods, Sampling Techniques, Research Report Writing |
| BA604 | Project Work/Internship | Project | 4 | Project Identification & Formulation, Literature Review, Data Collection & Analysis, Project Report Preparation, Presentation of Findings |
| BA605 | Elective-III Taxation-III (International Taxation) | Elective | 4 | Introduction to International Taxation, Double Taxation Avoidance Agreements (DTAA), Transfer Pricing, Foreign Tax Credit, Tax Havens and Anti-Avoidance Rules |
| BA606 | Elective-IV Taxation-IV (Tax Procedures & Management) | Elective | 4 | Income Tax Authorities, Assessment Procedures, Refunds and Appeals, Penalties and Prosecutions, E-filing of Income Tax Returns |
