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SPPU Syllabus

The document outlines the syllabus for Business Regulatory Framework and Auditing and Taxation courses, detailing various units covering laws such as the Indian Contract Act, Sale of Goods Act, Companies Act, and taxation principles. It includes topics on auditing processes, types of audits, and direct and indirect taxes, along with recommended books for further reading. The syllabus serves as a comprehensive guide for students studying business law and auditing practices.

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21 views7 pages

SPPU Syllabus

The document outlines the syllabus for Business Regulatory Framework and Auditing and Taxation courses, detailing various units covering laws such as the Indian Contract Act, Sale of Goods Act, Companies Act, and taxation principles. It includes topics on auditing processes, types of audits, and direct and indirect taxes, along with recommended books for further reading. The syllabus serves as a comprehensive guide for students studying business law and auditing practices.

Uploaded by

vinay motwani
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© © All Rights Reserved
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Business Regulatory Framework Syllabus

Business Regulatory Framework (3113) - Syllabus

Unit 1: Indian Contract Act, 1872

1. General Principles of Law of Contract


o Definition and nature of a contract
o Essential elements of a contract
o Offer and Acceptance
o Consideration, Capacity to Contract, Free Consent
o Legality of Object and Consideration
o Void and Voidable Contracts
o Performance of Contract
o Breach of Contract and Remedies
2. Special Contracts
o Contract of Bailment and Pledge
o Contract of Agency (Definition, types, rights, and duties)

Unit 2: The Sale of Goods Act, 1930

1. Contract of Sale of Goods


o Definition of Sale and Agreement to Sell
o Conditions and Warranties
o Transfer of Property in Goods
o Performance of Contract of Sale
o Rights of Unpaid Seller
o Contract of Hire-Purchase and Conditions for its Validity
2. Consumer Protection Act, 1986
o Consumer Rights and Consumer Protection
o Consumer Disputes Redressal Forums
o Unfair Trade Practices and Consumer Welfare

Unit 3: The Indian Partnership Act, 1932

1. Nature and Formation of Partnership


o Definition of Partnership
o Essentials of Partnership
o Types of Partners
o Partnership Deed
o Rights and Duties of Partners
o Registration of Partnership
2. Dissolution of Partnership
o Dissolution of Partnership Firm
o Dissolution of Partnership by Agreement
o Consequences of Dissolution

Unit 4: The Companies Act, 2013

1. Company and Its Formation


o Definition of a Company
o Types of Companies: Private Company, Public Company, One-Person Company
o Formation of a Company
o Memorandum and Articles of Association
2. Management and Administration
o Directors: Powers, Functions, and Appointment
o Shareholders and their Rights
o Corporate Governance
3. Corporate Social Responsibility (CSR)
o Provisions under the Companies Act regarding CSR

Unit 5: The Negotiable Instruments Act, 1881

1. Definition and Types of Negotiable Instruments


o Promissory Note, Bill of Exchange, and Cheque
o Characteristics of Negotiable Instruments
o Endorsement and Negotiation
2. Dishonour of Negotiable Instruments
o Dishonour of Cheques and the Legal Consequences
o Liability of the Drawer and Holder of the Cheque

Unit 6: The Foreign Exchange Management Act (FEMA), 1999

1. Introduction to FEMA
o Objective and Scope of FEMA
o Foreign Exchange Transactions
o Regulations for Foreign Exchange and External Commercial Borrowings
o Penalties and Offences under FEMA
Auditing and Taxation Syllabus

Part 1: Auditing

Unit 1: Introduction to Auditing

1. Nature and Objectives of Auditing


o Definition and significance of auditing
o Objectives of auditing: primary and secondary objectives
o Types of audits (Internal Audit, Statutory Audit, Tax Audit, etc.)
2. Types of Auditors
o Government Auditors
o Internal Auditors
o External Auditors
o Cost Auditors
3. Audit Process
o Audit Planning and Strategy
o Audit Program
o Audit Evidence and Documentation
o Materiality and Risk in Auditing
o Audit Sampling

Unit 2: Audit Procedure and Techniques

1. Internal Control and Internal Check


o Meaning, importance, and types of internal controls
o Relationship between internal control and internal check
o Evaluation of internal control system
2. Vouching and Verification
o Meaning of vouching and verification
o Vouching of transactions and vouchers (sales, purchases, cash transactions, etc.)
o Verification of assets and liabilities
3. Audit of Cash and Bank Transactions
o Cash book audit
o Bank reconciliation statement (BRS) and its importance

Unit 3: Audit of Different Entities

1. Audit of Sole Proprietorship and Partnership Firms


o Nature and audit procedures for sole proprietorship and partnership firms
o Special considerations in partnership firms (partners’ drawings, capital accounts,
etc.)
2. Audit of Companies
o Key areas of audit for companies
o Types of company audits (Statutory Audit, Tax Audit, etc.)
o Appointment of auditors in companies
o Auditor’s report and its contents

Unit 4: Special Audits

1. Tax Audit under Section 44AB of the Income Tax Act, 1961
o Applicability and requirements of tax audit
o Auditor’s responsibilities and reporting under tax audit
2. Special Purpose Audits
o Audit of non-profit organizations (NGOs, Trusts, etc.)
o Audit of Government organizations and departments
3. Audit Report
o Types of audit reports (Unqualified, Qualified, Adverse, Disclaimer)
o Auditor’s opinion and reporting responsibilities

Part 2: Taxation

Unit 5: Direct Taxes (Income Tax)

1. Basic Concepts of Income Tax


o Meaning of income, assessment year, previous year, and residential status
o Basis of charge of income tax and exemptions under Income Tax Act, 1961
2. Income Under Different Heads
o Income from Salary
o Income from House Property
o Profits and Gains of Business or Profession
o Income from Capital Gains
o Income from Other Sources
3. Deductions and Exemptions
o Section 80C (Life insurance, PPF, NSC, etc.)
o Section 80D (Health insurance premiums)
o Other relevant sections (80G, 80E, etc.)
o Exemptions (HRA, Leave Travel Allowance, etc.)
4. Tax Computation
o Computation of total income for individuals, firms, and companies
o Tax liability and rebates
o Tax planning and strategies for individuals and businesses

Unit 6: Indirect Taxes (GST)

1. Introduction to Goods and Services Tax (GST)


o Concept, structure, and significance of GST
o Types of GST: CGST, SGST, IGST, and UTGST
oFeatures of GST (One Nation, One Tax)
2. GST Registration and Compliance
o Registration process under GST
o GST Returns: GSTR-1, GSTR-3B, and GSTR-9
o GST Payment and Refund Process
3. GST on Goods and Services
o GST Rates for goods and services
o Input Tax Credit (ITC) and its utilization
o Exemptions under GST for certain goods and services
4. GST Impact on Business
o Impact of GST on business operations (input credit, supply chain management)
o GST for small businesses and exporters
o GST and its role in the Indian economy

Unit 7: Practical Aspects of Taxation

1. Tax Planning
o Concept of tax planning and its importance
o Tax-saving instruments under the Income Tax Act
o Capital gains tax planning
2. Assessment Procedure
o Types of assessments (self-assessment, best judgment assessment, scrutiny
assessment)
o Filing of income tax returns (ITR forms)
o E-filing of returns and its importance
3. GST Filing and Compliance
o Filing GST returns using online portals
o GST invoice generation and record-keeping
o Practical issues faced by businesses in GST compliance

books

https://books.google.com.om/books?
id=rhMJzQEACAAJ&printsec=frontcover&source=gbs_atb&redir_esc=y#v=onepage&q&f=true
BUSINESS REGULATORY FRAMEWORK REC. BOOKS

Recommended Books: 1) Business and Corporate Law :- Dr. Kaur Harpreet, Lexis Nexis (2013)

2) Laws for Business, Sulphey M.M.&Basheer, PHI Learning Pvt. Ltd., Delhi. (2013)

3) Business Laws :- Kuchhal M.C.&KuchhalVivek, Vikas Publishing House (2013)

4) Business and Commercial Laws:-Sen And Mitra

5) An Introduction to Mercantile Laws :-N.D.Kapoor

6) Business Laws :- N.M.Wechlekar

7) Company Law :-Avtar Singh

8) Business Law for Management :-Bulchandani K.R

9) Negotiable Instruments Act :-Khergamwala

10)Intellectual Property Law:-P.Narayan.

11)Cyber Laws :- Krishna Kumar

12)Consumer Protection Act In India :-Niraj Kumar

13)Consumer Grievance Redressal under CPA :-Deepa Sharma.

14)Business Law – Dilip Shinde, Kiran Nerkar, Shantnu Jog, Anant Deshmukh (Sai Jyoti Publication)

AUDITING AND TAXATION

1) Practical Auditing -: Spicer and Peglar

2. Auditing Principles -: Jagadish Prasad

3. A Handbook of Practical Auditing -: B.N. Tondon

4. Auditing assurance standards- -: The Institute of Chartered Accountants of India

5. Indian Income Tax -: Dr.Vinod Singhania

6. Income Tax- -: Ahuja and Gupta


7. Income Tax Act -: R.N.Lakhotia

8. Indian Income Tax Act -: H.C.Malhotra

9. Income Tax -: Manoharem

10. Student guide to Income Tax -: Dr.Vinod Singhania

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