Introduction - Accounting concepts and conventions - Journal - Ledger - Subsidiary books - Trial Balance - Final Accounts of a Sole Trader - Opening entries; closing entries - Adjustments - Manufacturing Account.
Unit II
Bill of Exchange - Trade, Accommodation Bills - Average Due Date - Account Current.
Unit III
Final Accounts of non-trading concerns - Receipts and Payments Account - Income and Expenditure Account - Balance Sheet.
Unit IV
Single Entry System - Statement of Affairs - Conversion method - Self Balancing Ledgers.
Unit V
Depreciation - Methods - Fixed - Diminishing - Annuity - Depreciation Fund - Change of Method - Provisions and Reserves.
Distribution - Problem 80% and Theory 20%
Text Books
1.
Financial Accounting - R.L. Gupta and V.K. Gupta - Sultan Chand & Sons, New Delhi
Reddy and Murthy - Financial Accounting, Margham Publications, Chennai - 17.
2.
Financial Accounting - Dr. S. Ganesan and Kalavathi, Tirumalai Publication, Nazgercoil.
BUSINESS COMMUNICATION
Unit I
Meaning of Communication - Objectives - Media - Barriers. Need and Functions of Business Letter - Effective Business Letter - Layout and Kinds of Business Letter.
Unit II
Various types of Business Letters - Letter of enquiry - Quotation - Offers - Orders - Cancellation - Execution - Complaints and Settlements - Circular - Status enquiry - Collection Letters.
Unit III
Bank Correspondence - Insurance Correspondence - Agency Correspondence.
Unit IV
Company Correspondence - Correspondence with Shareholders - Debenture holders - Minutes - Agenda and Annual Report.
Unit V
Report Writing - Meaning - Importance - Characteristics of Good Report - Report by Individual - Report by Committees - Market Reports.
Text Books
1.
Pattern Chetty, cc. And Ramesh, M.S.Effective Business English and Correspondence.
Reference Books
1.
Commercial Correspondence
- R.S.N. Pillai and Bagavathi
2.
Text Book of Business Communication
- Chappel
BUSINESS ECONOMICS (ALLIED)
Unit I
Nature and Scope of economics - Meaning of Business economics - Objectives
and Scope of Business Economics - Role and Responsibilities of a business economist. Meaning of demand law of demand - exceptions changes in demand - demand determinants - importance - elasticity of demand - type measurement - its importance - demand forecasting.
Unit II
Meaning of Production - Production Function - Short run and long run
economics and diseconomies of Scale - Supply - determinants.
Unit III
Cost concepts - kinds of cost - cost and output relationship - revenue - total revenue - Average revenue - Marginal revenue curves under perfect & imperfect competition - Break even analysis.
P.N. Reddy and H.R Appanniah – ‘Business Economics’
3.
R.L. Varasheney and K.L. Maheswari – ‘Managerial Economics’
4.
M.L.Seth – ‘Principles of Economics’
5.
K.K. Dewett – ‘Modern Economic Theory’
SEMESTER II
FINANCIAL ACCOUNTING
Unit I
Branch Accounts - Dependent Branches - Stock and Debtors System - Final Account System - Wholesale Branch System (Foreign Branch excluded) - Departmental Accounts.
Unit II
Insurance Claims - Fire Claims - Loss of Stock - Royalties (Excluding sub lease)
Unit III
Hire Purchase System - Calculation of Interest - Accounting Procedure - Default and repossession & Stock - Hire Purchase Trading Account -Installment System.
Unit IV
Partnership Accounts - Division of Profit - Fixed and Fluctuating Capitals - Past Adjustments - Admission - Retirement - Death of a Partner.
Unit V
Dissolution - Insolvency of a partner Rule in Garner Vs Muray - Piece meal Distribution - Proportional Capital Method - Maximum Possible Loss Method.
Text Books
1.
"Financial Accounting"
R.L. Guptha and V.K. Guptha Sultan Chand and Sons, New Delhi.
2.
"Financial Accounting"
S.P. Jain and Narang Kalyani Publishers, Ludhiana.
Reference Books
1.
Financial Accounting
Reddy and Murthy - Margham Publications, Chennai - 17. Dr.S. Ganesan and
Nature and Scope of Management - Functions of Management -Scientific Management - Contribution by Henry Fayol.
Unit II
Planning - Meaning, nature and importance of planning - Steps in Planning - Forecasting - Decision making - Process - Types of decision.
Unit III
Organisation - Meaning, nature and importance - Types of organization - Span of Control-Delegation and Decentralisation.
Unit IV
Leading - Nature and Purpose of directing - Controlling -Coordination - Meaning and Types of control - Control techniques.
Unit V
Nature and Purpose of Staffing - Manpower Planning - Recruitments, Selection, Training and Development - Performance appraisal.
Text Books
1.
1. DinkarPagare - Business Management
Reference Books
1.
1. Y.K. Bhushan - Business Organisation and Management.
2.
2. Chatterjee - Business Management.
INDIAN ECONOMY (ALLIED)
Unit I
Under development - Meaning and Characteristics causes - The determinants of economic development - economic and non economic factors
- concepts of growth and development.
Unit II
Human resources - Population growth as a retarding factor - Population Policy, National Income - Concept - Its measurement - Limitations - Recent Trends in National Income.
Unit III
Agriculture - Features - Role of Agriculture - Agricultural Productivity
- and reforms - Food Problem - Green revolution.
Unit IV
Industrialisation - Role of Industries in economic development - major industries - Iron & Steel, Cotton Textiles, Sugar - Cottage and Small Scale Industries - Industrial Sickness - Industrial Labour - Organisation - Industrial relation - Industrial Policy - 1948, 1956, 1977, 1980 and 1991.
Unit V
Economic Planning - A brief resume of five years plans - The Tenth five year plan - 2002-07. India's foreign trade and balance of payments -GATT - WTO and Indian Economy.
Reference Books
1.
Dutt and Sundaram - Indian Economy
2.
Dhinagara I.C. - Indian Economy
3.
JheinganM.L. - Economic Development and Planning.
4.
Govt. of India - Five year Plan reports.
5.
JainP.C. - Indian Economic Problems
SEMESTER III
BUSINESS LAW
Unit I
Commercial Law - Introduction - Sources Nature and Kinds of Contract - Elements of a Valid Contract - Offer and Acceptance Consideration Contractual Capacity.
Unit II
Free Consent - Legality of Object - Void Agreements - Contingent Contract Quires Contract - Performance of a Contract - Discharge of a Contract - Remedies for breach of Contract.
Unit III
Contract of Indemnity and Guarantee - Bailment - Pledge - Lien Hypothecation Charge - Mortgage
Unit IV
Agency - Creation of Agency - Kinds of Agent - rights and duties Principal and Agent of Principal with his Agent - Relation of Principal with third parties - Termination of Agency.
Unit V
Sales of goods - Sale and Agreement to sell - Conditions and warranties - Transfer of Property - Transfer of title - Performance Remedies for breach - Unpaid Seller - rights of unpaid seller - auction sale - Rules relating to delivery of goods.
Text Books
1.
Commercial Law - N.D. Kapoor Sultan Chand & Sons,
New Delhi.
2.
Business Law - R.S.N. Pillai and Bagavathi.
S. Chand & Co, New Delhi.
Reference Books
1.
Commercial Law - M.C. Shukla
S.Chand & Sons, New Delhi.
2.
Business Law - M.C. Kuchal
COMPANY ACCOUNTS
Unit I
Issue of Shares: Kinds of Shares - Issue of Equity Shares - Under Subscription and Over Subscription - calls-in-arrears and calls-in-advance - Issue of shares t premium and at discount - forfeiture of shares - Effects of Pro-rata allotment on forfeiture of shares - surrender of shares - reissue of forfeited shares.
Unit II
Issue of Preference Shares: Meaning - Kinds - Redemption of Preference shares - Capital Profits and revenue profits - Preparation of Balance Sheet after redemption.
Unit III
Issue and Redemption of Debentures: Consideration for issue of Debentures - Condition of Redemption of Debentures - Different methods - Redemption on Specified Due date, in installments, by conversion, Sinking fund methods and Insurance Policy method.
Unit IV
Under Writing of Shares: Under Writing Commission - Types of underwriting - Marked and Un-marked and firm underwriting applications - Determining the liability of the underwriters - Full, partial with (or) without firm underwriting - valuation of Goodwill - Methods of valuation - Average Profit method - Super profit method - Annuity method - Capitalisation method - Valuation of Shares - Net Asset Method - Yield Method - Fair Value.
Unit V
Profits prior to Incorporation - Methods of Basis for ascertaining profit (or) loss prior to incorporation - Apportionment of Expenses - Final Account of Companies.
Note: Distribution of Marks: Problems 80% and Theory 20%
Text Books
1.
R.L.Gupta and Radhasamy - Advanced Accounting, Sultan Chand & Sons.
Concept of Entrepreneurship: Entrepreneurship - Meaning - Distinction between an entrepreneur and manager - Nature and characteristics of an entrepreneur - Qualities, types and functions of an entrepreneur - role entrepreneur in economic development.
Unit II
Entrepreneurial Motivation : Concept of Motivation - Theories of Motivation -Marlow and McClelland - Motive for starting an enterprise- testing entrepreneurial motivation - entrepreneurial behaviiour.
Unit III
Establishing an Enterprise : The Start - up process - Project identification and selection - Project formulation - Assessment of Project feasibility, market survey, risk analysis, Break - even analysis - Preparation of Project report, Selection of Site - Legal Considerations - Basic start-up Problems.
Unit IV
Institutional Finance to Entrepreneurs : National Small Industries Corporation (NSIC), Small Industries Development Organisation (SIDO) Small Scale Industries Board (SSIB) Small Industries Development Corporations (SSICS), Small Industries Development Corporations (SISI), District Industries Centres (DIC), Tamilnadu Industries Investment Corporation TIIC and Commercial Banks.
Unit V
Entrepreneurship Development in India : Entrepreneurial development programmes - Their role, relevance and achievements - Institutions of entrepreneurship development - Role of Govt. Organising entrepreneurship development programme.
Text Books
1.
Entrepreneurial Development - S.S. Khanka
S. Chand &Co., Delhi.
2.
Fundamentals of Entrepreneurship
And Small Business - Renu Arora, S.K. Sood
Kalyani Publishers, Ludhiana.
BANKING THEORY
Unit I
Evolution of Banking - Banking Systems - Unit Banking Vs. Branch Banking - features - merits and demerits. Types of Banks - Central Bank, Commercial Banks, Investment Banks Co-operative banks, Foreign banks -features - functions. Role of Banking in the economic development of a country.
Unit II
Commercial Banking - Functions and Services - Credit creation. Investment policy of Commercial Banks - Recent trends in Commercial Banking including Banking Reform Measures. State Bank of India and its subsidiaries - Role of SBI in the economic development of India.
Unit III
Central Banking : Nature and Functions - Methods of Credit Control -Quantitative and Qualitative credit control weapons. RBI and its role in the economic development - Monetary Policy of RBI.
Unit IV
Agricultural Banking - Co-Operative Credit banks and societies - Short term and Long term credit institutions. Regional Rural Banks - NABARD -Objectives and Functions.
Unit V
Development Banking in India - ICI - SFCs - ICICI - IDBI - UTI -SIDBI - EXIM Bank - National Housing Bank - National Co-Operative Bank -IRCI.
Text Books
1.
Gordon and K.Natarajan, Banking Theory, Law and Practice, Himalaya Publishing House, Mumbai.
2.
K.P.M. Sundharam & P.N. Varshney, Banking Theory, Law and Practice, Sultan Chand & sons, New Delhi.
Reference Books
1.
Sayers, Modern Banking.
2.
S.V. Vasudevan, Theory of Banking, S.Chand& Co., New Delhi.
BUSINESS STATISTICAL METHODS (ALLIED)
Unit I
Introduction - Collection and Tabulation of Statistical data - Frequency Distribution - Simple and Cumulative - Measure of Central Tendency - Mean, Median, Mode, Harmonic Mean and Geometric mean, Combined Mean.
Unit II
Measures of Dispersion - Range - Quartile deviation - Mean Deviation - Standard Deviation and their Co-efficient. Measure of Skew ness -Pearson and Bowley's Co-efficient of skewness
Unit III
Correlation - Types of Correlation - Measures of Correlation -Karl-Pearson's co-efficient of correlation - spearman rank correlations co-efficient.
Simple regression analysis - Regression equation, Refitting Regression lines. - Relationship between Regression Co-efficient and Correlation, co - efficient.
Unit IV
Index Number, Definition of Index Numbers, Uses, problems in the constructions of index numbers. Simple and Weighted Index numbers. Chain and Fixed base index - Cost of living index numbers.
Unit V
Analysis of Time Series - Definition - Components of Time Series, Uses, Measures of Secular trend, Measure of Seasonal Variation. Method of simple average only.
Text Books
1.
Business Statistics - P.A. Navanithan
Reference Books
1.
Statistical Methods - S.P. Guptha
2.
Statistics - D.C. Sanchati and V.K. Kapoor
3.
Elements of Statistics - Donald R.Byrkt.
SEMESTER IV
COMPANY LAW
Unit I
Meaning and Definition of a Joint Stock Company - Features - Kinds of Companies - Statutory companies, Registered Companies, Companies Limited by Shares. Companies Limited by Governments, Unlimited companies, Public Companies, Private companies, Government Companies, Foreign Companies - Difference between private and public companies.
Unit II
Formation of a company - Role of Promoters - Memorandum of Association and its contents - Articles of Association and its contents -Alteration of Memorandum and Articles of Association - Certificate of incorporation and certificate of commencement of business.
Unit III
Prospectus - its contents - Statement in lieu of Prospectus -Consequences of Misstatements in Prospectus - Kinds of Shares and Debentures - Differences between shares, debentures and stock - Majority rule and Minority protection (Concepts Only)
Unit IV
Company Management - Appointment, rights and duties Directors -Qualification - Disqualification - Removal of Directors.
Unit V
Kinds of meetings - Types of resolutions - winding up of a company, types of winding up - Consequences of winding up.
Text Books
1.
Company Law - N.D. Kapoor - Sultan Chand & Sons,
New Delhi.
Reference Books
1.
Company Law by Avatar Singh.
2.
Company Law by P. Saravanavel
3.
Principles of Company Law - N.C. Shukla& S.S.Gulshan
CORPORATE ACCOUNTING
Unit I
Amalgamation, Absorption and External Re-Construction : Meaning and Difference - Various methods of purchase consideration - Net payment, Lump sum and Net Asset method - According treatment in the Books of Selling company and purchasing company.
Unit II
Alteration of Share Capital: Internal Re-Construction - Different kinds of alteration of share capital and the Necessary Accounting Entries -Reduction of share capital - Liquidation of Companies - Modes of winding up - Orders of payment - Secured creditors - Preferential creditors - Liquidators statement of accounts.
Unit III
Accounts of Banking Companies : Legal requirements - Preparation of Profit and Loss Account - Balance Sheet - Guidelines of RBI - Classification of Bank Advances (NEW FORM)
Unit IV
Accounts of Insurance Companies : General Insurance - Reinsurance Premium and Commission there on - Reserve for Un-expired Risks - Life Insurance - Valuation Balance Sheet - Net Profit in Insurance Business -Treatment of Net Profit- Annual Accounts - Profit and Loss Account and Balance Sheet.
Unit V
Accounts of Holding Companies : Consolidated Final Statements -Preparation of Consolidated Balance Sheet (Excluding Inter Company Holding)
NOTE : Distribution of Marks: Problems 80% and Theory 20%
Text Books
1.
R.L. Gupta and Radhasamy - Advanced Accounting,
Sultan Chand & Sons, Delhi.
Banker and Customer - Meaning and definitions - Relationship between them - General and Special - Obligation (i) to honour customer's cheques ; (ii) to maintain secrecy - Banker's lien - Right of appropriation -Rule in Clayton's case - Right to set off Garnishee order.
Unit II
Operations of Bank Accounts - Opening of different types of deposit accounts in a Bank - Special types of Banker's Customers. New Deposit Savings Schemes introduced by banks - Cash Certificate, annuity, deposit, reinvestment plants, parennial premium plan and Non -resident (external) accounts scheme.
Unit III
Law relating to negotiable instruments - meaning and features of cheque, bill of exchange and promissory note. Holder in the course -privilege of holder in due course. Requisites of a cheque crossing - different forms of crossing and their significance. Endorsement - essentials of a valid endorsement. Different innovative financial services offered by commercial banks - New types of credit cards, swaps LOC, IBPS, Anywhere Banking, etc.,
Unit IV
Paying Banker - meaning - duties and responsibilities - Statutory Protection - Payment in due course - refusal of payment - Consequences of wrongful dishonour - collecting Banker - Banker as a holder for value -Banker as agent - Statutory Protection - duties and responsibilities.
Unit V
Loans and Advances - Leading Policies - forms of advances - Loans, overdrafts & Cash credits. Secured advances - General Principles. Various modes of creating charge - Lien, Pledge, Hypothecation & mortgage. Advances against goods, documents, bill of lading, railway receipts, stock exchange securities, LIC Policies and FDR.
Text Books
1.
Proft.E. Gordon & Dr.K. Natarjan, Banking Theory, Law and Practice, Himalaya Publishing House, Mumbai.
2.
K.P.M. Sundharam & P.N. Varshnayh, Banking Theory, Law and Practice,
Sultan chand & Sons, New Delhi.
Reference Books
1.
M.L. Tannon, Banking Theory, Law and Practice.
2.
S.N. Maheswri, Banking Law and Practice.
BUSINESS ENVIRONMENT
Unit I
Introduction to Business - Nature and Changing concept of Business -Objectives of Business - Social responsibilities of business - Indian Business Environment; concept, Components and importance.
Unit II
Planned economic development - Fifty Years of planning in India (1950-51 to 1996-97) - Objectives, achievements and constraints, Ninth and Tenth Five year plans (1997 to 2007) - Objectives and key targets. Growth of Savings and investment in India - National Income : Growth and Industrial origin.
Unit III
The meaning and rationale for Globalisation - Strategies for going global - From domestic market to global market. Advantages of Globalisation.
Unit IV
Sectoral Development of the economy and role of the Government. Agricultural Development; The New Industrial Policy, 1991 and its impact -Economic resources on industrial licensing, Export - Import policy. Regulation of foreign investment - Collaboration in the light of recent charges.
Unit V
Trends in World Trade and the problems of developing countries; International economic groupings; International economic institutions -GATT, WTO, UNCTAD, World Bank, IMF, GSP, GSTP, Counter Trade.
Text Books
1.
K.Aswathappa, Essentials of Business Environment, Himalaya Publishing House, Mumbai - 4.
2.
M. Adhikary, Economic Environment of Business, Sultan Chand & Sons, New Delhi -2.
3.
Dr.S. Sankaran, Business Environment, Margham Publications, Chennai- 17.
SEMESTER V
COST ACCOUNTING
Unit I
Cost Accounting - Meaning, scope objectives advantages and limitations - Differences between cost Accounting and Financial Accounting
- Elements of Cost - Preparation of cost sheet.
Unit II
Material management - Purchase procedure - Various stock levels -Economic order quantity - Bin card and stores ledger - pricing of issues -FIFO, LIFO, Simple Average and weighted average methods - stock control.
Unit III
Labour cost - Importance - Various methods of labour cost control -methods of wage payment - various incentive schemes - recording of labour time and idle time.
Unit IV
Overheads - classification - apportionment of overheads -redistribution of overheads - absorption of overheads - calculation of machine hour rate.
Unit V
Methods of costing - process costing - normal loss and abnormal loss and abnormal gain (excluding equivalent production and inter process profit)
-joint and by products costing - operating costing (Transport cost only)
NOTE:
Distribution of marks between theory and problems shall be 20% and 80% respectively.
Maheswari : Cost Accounting - Sultan Chand &
Sons, New Delhi.
2.
Rillai & Bagavathi : Cost Accounting - Sultan Chand &
Co, New Delhi.
AUDITING
Unit I
Introduction - meaning and object of audit - difference between auditing and accountancy - kinds of audit - advantages and limitations of audit - audit programmes and working papers.
Unit II
Internal control - Meaning and object - Internal check - Meaning and object - Internal control regarding cash, purchases, sales, payment of wages and stores.
Unit III
Vouching - meaning - objects - features of good voucher - procedure & importance - vouching of cash transactions - verification of assets and liabilities.
Auditing - Dinker Pagare - Sultan chand&Sons, New Delhi. Auditing - R.C. Bhatia
INCOME TAX-LAW AND PRACTICE - I
Unit I
Basic concepts - Assessee - persons - previous year - assessment year - Income - Casual income - Gross total income - Total income
Unit II
Basis of charge - scope of total income - residence and tax liability -incomes which do not form part of total income.
Unit III
Heads of income - income under salaries - definition, features -computation of salary income - PF - allowances - perquisites - other items included in salary - deduction under salary - tax - rebate, relief of income tax.
Unit IV
Income from House property - Definition - Basis of charge - exempted IFHP - computation of IFHP - Gross annual value - net annual value -deductions - let out and self- occupied houses.
Unit V
Profits and gains of business of profession - definition of business and profession - income chargeable under profits and gains - deductions -specific allowances - deemed profit - computation of business income and professional income - depreciation.
NOTE:
Distribution of marks between problems and theory shall be 60% and
40%
Text Books
1.
V.P. Gaur & Narang - Income tax law and practice
Kalyani publishers, Ludhiana
2.
A. Jayakumar & N. Hariharan - Income Tax law and practice
Vijay Nicole Imprints (P) Ltd, Chennai - 37.
Reference Books
1.
T.S. Reddy & Hari Prasad Reddy - Income Tax Theory, Law & Practice Margham publications, Chennai - 17.
2.
Dinkan pagre - Income Tax law and practice
Sultan Chand & Sons, New Delhi.
SEMESTER VI
MANAGEMENT ACCOUNTING
Unit I
Management Accounting : Nature and scope - meaning and definition - objectives - management accounting and financial accounting -management accounting and cost accounting.
Unit II
Analysis and interpretation of Financial Statements : Concept and nature of Financial statement - limitation of financial statements - analysis and interpretation - tools - comparative financial statements - common size statements - ratio analysis - utility and limitation of ratio - short-term and long-term financial ratios profitability, proprietary and yield ratios.
Unit III
Fund flow analysis : Concept of fund - sources and uses of funds -construction of fund flow statement managerial use of funds flow analysis -distinction of cash from funds and fund flow statement and cash flow statement - utility of cashflow statement -construction of cash flow statement.
Unit IV
Budget and Budgetary Control : Meaning importance preparation of purchase budget preparation of budgets sales budget, production budget -raw materials budget - cash budget - flexible budget.
Unit V
Marginal costing - absorption costing - break - even analysis for profit planning and control - P/V ratio - BEP and margin of safety -practical application of marginal costing technique to different situations.
NOTE : Distribution of marks : Problems 80% and Theory 20%
Text Books
1.
Dr. S. Ganesan & Kalavathi - Management Accounting -
Thirumalai publication Nagercoil
2.
S.N. Maheswari - Management Accounting Sultan
Chand & Sons, New Delhi.
Reference Books
1.
Manmohan & Goyal - Principles of Mg Ala - Sahithya
Barath
PRINCIPLES OF MARKETING
Unit I
Meaning and functions of marketing : Definition of marketing -features of modern marketing - importance of marketing - functions of marketing : buying, assembling, selling - Transportation, storage and ware housing, risk bearing, market information, grading and standardization.
Unit II
Product Planning : Definition of a product - features and importance of the product - product mix - alteration of product mix - product life cycle branding : Types, features, functions of branding - advantages and disadvantages. Packaging : Kinds, advantages and disadvantages.
Unit III
Buyer Behaviour : Meaning of buyer behaviour - buying motives -factors influencing buyer behaviour - process of buying market segmentation - need for market segmentation - criteria for segmentation - basis for market segmentation - methods of market segmentation - benefits.
Unit IV
Pricing : Meaning and importance of pricing - pricing objectives factors affecting pricing decisions - kinds of pricing - pricing strategies - procedure for price determination.
Unit V
Sales Promotion : Sales promotion - definition - importance - kinds : Dealer level, consumer level, salesman level - advertising : objectives -kinds - importance - advantages and disadvantages. Media of advertising -personal selling : objectives - importance - qualities a good sales man - kinds of salesman - role of sales person in modern business.
Text Books
1.
Principles of marketing -S.A. Sherlekar
2.
Modern marketing
principles and practices-
K. Nirmala prasad
SJ. Salvadore victor
Himalay publishing house
R.S.N.'Filial
Bagavathi
S. Chand & Co. Delhi.
INCOME TAX LAW AND PRACTICE - II
Unit I
Capital gains - basis of charge - capital assets - transfer of capital assets - computation of capital gains - exemptions - capital loss - tax on capital gains.
Unit II
Income from other sources - general incomes - specific incomes -dividends - interest - casual income - income from letting of plant, machinery, furnitures
Unit III
Aggregation of income - incomes of other persons - income from form and AOP - deduction from gross total income set off and carry forward of losses - losses with in and outside head - capital losses.
Unit IV
Computation of tax liability - rules of income tax - surcharge - tax free incomes tax rebates - tax relief - computation of tax liability of individual and firms.
Unit V
Income tax authorities - Central Government - CBDT - powers - assessment procedure - types - best judgment assessment - appeals -penalties
Distribution of marks : Problems 60% and Theory 40%
Text Books
1.
V.P. Gaur & Narang - Income tax law and practice
Kalyani publishers, Ludhiana
2.
A. Jayakumar & N. Hariharan - Income Tax law and practice
Vijay Nicole Imprints (P) Ltd, Chennai - 37.
Reference Books
1.
T.S. Reddy & Hari Prasad Reddy - Income Tax Theory, Law & Practice Margham publications, Chennai - 17.
2.
Dinkan pagre - Income Tax law and practice
Sultan Chand & Sons, New Delhi.
COMMERCE PRACTICALS
LIST OF EXERCISES FOR COMMERCE PRACTICALS
Unit I
1. Preparation of invoice, receipts, voucher, delivery, challan, entry pass, and Gate pass debit and credit notes.
2. Preparation of transaction from the receipts, vouchers credit notes and debit notes.
3. Preparation of application for shares and allotment letter for share transfer forms from the secretary.
Unit II
1. Drawing, endorsing and crossing of cheques filling up of pay in slips demand draft application and preparation of demand drafts.
2. Making entries in the passbook and filling up of account opening forms for SB account, current account and FDR's, preparation of FDR's
3.Drawing and endorsing of bills of exchange and promissory notes
Unit III
1.Filling up of application forms for admission to co-operative societies. Filling up loan application forms and deposit challan.
2. Filling up jewel loan application form, procedure for releasing of jewellary in jewel loans and repayment.
Unit IV
1. Preparation of agenda and minutes of meetings-both general body and board of directors.
2. Using bin card and inventories
3. Using cost sheets.
Unit V
1. Filling up of an application form for a LIC policy, filling up of the premium form sending premium notice and filling up the challan for remittance receipt for the premium. The procedure to receive a lapsed policy and procedure for settling account while the insured is alive or dead.
2. Preparation of audit programmes.
3. Preparation of audit report and the replies to audit objections.
4. Preparation of an advertisement copy, collection of advertisement in dailies and journal, critically evaluating the advertisement copy.
5. Filling up income -tax returns and application for permanent account number.
Distribution of marks: Practicals 75% and Record note book 25%
