(Applicable to the batch of students admitted in the academic year 2025-2026 onwards)

[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

[Link] (Tax Procedures)

Syllabus (CBCS)
(w.e.f. 2025–2026)

FACULTY OF COMMERCE
OSMANIA UNIVERSITY
HYDERABAD - 500 007 T.S.

2025

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

[Link] (Tax Procedures)

CBCS COURSE STRUCTURE
w.e.f. 2025-2026
[Link]. Code Course Title HPW Credits Exam Hrs Marks
) (2) (3) (5) (6) (7) (8)
SEMESTER – I
1. AEC1 English (First Language) 5 5 3 hrs 80U+20I
2. SLS1 Second Language 5 5 3 hrs 80U+20I
3. MJR101 Financial Accounting-I 5 5 3 hrs 80U+20I
4. MJR102 Business Organization and Management 5 5 3 hrs 80U+20I
5. MJR103 Income Tax-I 5 5 3 hrs 80U+20I
Total 25 25
SEMESTER – II
6. AEC2 English (First Language) 5 5 3 hrs 80U+20I
7. SLS2 Second Language 3 3 3 hrs 80U+20I
8. MJR201 Financial Accounting-II 5 5 3 hrs 80U+20I
9. MJR202 Business Laws 5 5 3 hrs 80U+20I
10. MJR203 Income Tax - II 5 4 3 hrs 80U+20I
Total 25 25
SEMESTER – III
11. AEC3 English (First Language) 5 5 3 hrs 80U+20I
12. SLS3 Second Language 5 5 3 hrs 80U+20I
13. MJR301 Advanced Accounting 5 5 3 hrs 80U+20I
14. MJR302 Business Statistics-I 5 5 3 hrs 80U+20I
15. MJR303 Assessment of Other Entities 5 5 3 hrs 80U+20I
Total 25 25
SEMESTER – IV
16. AEC4 English (First Language) 5 5 3 hrs 80U+20I
17. SLS4 Second Language 5 5 3 hrs 80U+20I
18. MJR401 Corporate Accounting 5 5 3 hrs 80U+20I
19. MJR402 Business Statistics-II 5 5 3 hrs 80U+20I
20. MJR403 Customs Procedure & Practice 5 5 3 hrs 80U+20I
Total 25 25

SEMESTER – V
21. MJR501 a) Cost Accounting/
b) Business Economics/
c) International Financial Reporting-I 5 5 3 hrs 80U+20I

22. MJR502 a) Business Ethics & Corporate

Governance /
b) Auditing 5 5 3 hrs 80U+20I
c) Tax Planning & Management
23. MDC503 a) Introduction Accounting 4 4 3 hrs 80U+20I
(Offered b) Principles of Management
to other
students)

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

24. SEC1 a) Communication Skills/ 2 2 2 hrs 40U+10I

b) Professional Development Skills
c) Entrepreneurship & Startups
25. SEC2 a) Professional Development Skills/ 2 2 2 hrs 40U+10I
b) Communication Skills/
c) Entrepreneurship & Startups
26. VAC1 a) Environmental Science/ 3 3 2 hrs 40U+10I
b) Cyber Security & Laws
Total 21 21
SEMESTER – VI
27 MJR601 a) Management Accounting/
b) International Tax & Regulation/ 5 5 3 hrs 80U+20I
c) International Financial Reporting-II

28 MJR602 a)Theory and Practice of GST/ 50T+35P

b) Financial Control/ 3T+4P 2 hrs / + 15I/
c) Advanced Corporate Accounting 5 5 3 hrs 80U+20I
29 RMP603 Research Methodology/ 2T+4PR 4 2 hrs 40U+10I
25PR+15IS
Internship/Project Report 4
+10VV

30 SEC3 a) Fundamentals of AI Tools/ 2 2 2 hrs 40U+10I

b) Ability Skills (Competitive
Mathematics)
31 SEC4 a) Computerized Accounting 2 2 2 hrs 40U+10I
(Dept. b) E-filing of Tax Returns
Specified)
32 VAC2 a) Cyber Security & Laws/ 3 3 2 hrs 40U+10I
b) Environmental Science
Total 21 21
GRAND TOTAL 142 142
THPW: Teaching Hour Per Week; ESED: End Semester Exam Duration AEC: Ability Enhancement Course; SLS:
Second Language Skill; SEC: Skill Enhancement Course; MJR: Major Course ; VAC: Value Added Course; MDC:
Multi-disciplinary Course; T: Theory; P: Practical; I: Internal Exam U: University Exam: RMP: Research
Methodology & Project Report; PR: Project Report; IS: Internship; VV: Viva-Voce Examination.
Note: If a student opts for “a” in SEC in V Semester, the student has to opt for “a’ only in VI Semester and so is the case with
“b” and “c” in the case of Major/MDC papers also the rule applies.
SUMMARY OF CREDITS
Sl. No. Course Category No. of Courses Credits Per Course Credits
1 AEC (English Language) 4 5 20
2 Second Language 4 5 20
3 SEC 4 2 8
4 MDC 1 4 4
5. VAC 2 3 6
6 RMP 1 4 4
7 MJR 16 5 80
TOTAL 32 142
Commerce 18 86
NSS/NCC/Sports/Extra Up to 6 (2 in each year)
CREDITS UNDER NON-CGPA Curricular

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

SEMESTER - I
MJR 101: FINANCIAL ACCOUNTING - I
PAPER CODE: MJR101 Max. Marks: 80U +20I=100
THPW: 5; Credits: 5 ESED: 3 hrs

Course Objectives:
1) To understand the accounting process.
2) To classify and record various business transactions in the respective subsidiary
books.
3) To know the reasons for disagreement of cash book and bank pass book balances.
4) To identify and rectify the accounting errors at various stages of accounting cycle.
5) To prepare the final accounts of the sole trader.

Course Outcomes:
1) Describe and understand the accounting principles and recording of business
transactions in Journal.
2) Prepare ledgers and subsidiary books.
3) Prepare and analyse the bank reconciliation statement.
4) Understand the way of rectification of errors in the books of accounts.
5) Understand the needs of preparing financial statements with adjustments.

UNIT-I: ACCOUNTING PROCESS:

Financial Accounting: Introduction – Definition – Evolution – Functions - Advantages
and Limitations – Users of Accounting Information - Branches of Accounting –
Accounting Principles: Concepts and Conventions - Accounting Standards – Meaning –
Importance – List of Accounting Standards issued by ASB - Accounting System - Types
of Accounts – Accounting Cycle – Journal - Ledger and Trial Balance (Including
Problems)

UNIT-II: SUBSIDIARY BOOKS AND RECTIFICATION OF ERRORS:

Meaning – Types: Purchases Book - Purchases Returns Book - Sales Book - Sales
Returns Book - Bills Receivable Book - Bills Payable Book – Cash Book: Single
Column, Two Column, Three Column and Petty Cash Book - Journal Proper (Including
Problems)
Rectification of Errors: Types of Errors - Suspense Account – Effect of Errors on Profit
(Including Problems)

UNIT-III: BANK RECONCILIATION STATEMENT:

Meaning - Need - Reasons for differences between C ash B ook and P ass B ook
b alances –Favourable and Overdraft balances – Ascertainment of correct Cash Book
balance (Amended Cash Book) - Preparation of Bank Reconciliation Statement
(Including Problems)

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

UNIT-IV: DEPRECIATION ACCOUNTING:

Depreciation (Ind-AS-16): Meaning – Causes – Difference between Depreciation,
Amortization and Depletion - Objectives of providing for depreciation – Factors affecting
depreciation –Accounting Treatment – Methods of Depreciation: Straight Line Method -
Diminishing Balance Method and Sum of the Units Method (Including Problems)

UNIT-V: FINAL ACCOUNTS OF SOLE TRADER:

Capital and Revenue Expenditure – Capital and Revenue Receipts: Meaning and
Differences -Deferred Revenue Expenditure.
Final Accounts of Sole Trader: Meaning - Uses - Preparation of Manufacturing,
Trading and Profit & Loss Account and Balance Sheet – Adjustments – Closing Entries
(Including problems)

SUGGESTED READINGS:
1) Haneef and Mukherjee: Accountancy-I: Tata McGraw Hill Company.
2) R. L. Gupta & V. K. Gupta: Principles & Practice of Accounting: Sultan Chand.
3) S. P. Jain & K. L. Narang: Accountancy-I: Kalyani Publishers.
4) Tulasian: Accountancy–I: Tata McGraw Hill Company.
5) T. S. Grewal: Introduction to Accountancy: S. Chand and Company.
6) Prof. Prashanta Athma: Financial Accounting -I: Himalaya Publishing HousePvt Ltd.
7) S. N. Maheshwari & V. L. Maheswari: Advanced Accountancy-I: Vikas Publishing
House.
8) Deepak Sehgil: Fundamentals of Financial Accounting: Tax Mann Publication.
9) Jawahar Lal: Financial Accounting: Himalaya Publishing House.
10) Kamatam Srinivas: Financial Accounting –I : S Publishers.
11) Kamala Devi, Dr Padmalatha, Rachana Sharma : Financial Accounting-I : Professional
Books Publisher.
12) Dr. K. Naveen Kumar: Financial Accounting -1: Vedashree Publishers.

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 (Applicable to the batch of students admitted in the academic year 2025-2026 onwards)
[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

SEMESTER - I
MJR 102: BUSINESS ORGANIZATION AND MANAGEMENT
PAPER CODE: MJR102 Max. Marks: 80U +20I=100
THPW: 5; Credits: 5 ESED: 3 hrs

Course Objectives:
1) To know the forms of business organization.
2) To understand the meaning and classification of joint stock companies.
3) To know the meaning and functions of management.
4) To study the importance of planning and organizing in a business organization.
5) To differentiate the concepts of authority, power, accountability, responsibility,
delegation and decentralization.
Course Outcomes:
1) Describe and understand the forms of business organization.
2) Knows the forms of companies and important documents.
3) Equips with the application of Fayol’s 14 principles of management.
4) Understand the benefits of planning and organizing in an organization.
5) Gain confidence in proper use of authority, responsibility, centralization,
decentralization, coordination, cooperation and control terms.

UNIT-I: INTRODUCTION:
Concepts of Business, Trade, Industry and Commerce - Objectives and functions of Business –
Social Responsibility of a Business - Forms of Business Organization - Meaning, Characteristics,
Advantages and Disadvantages of Sole Proprietorship – Meaning, Characteristics, Advantages
and Disadvantages of Partnership - Kinds of Partners - Partnership Deed -Concept of Limited
liability partnership – Meaning, Characteristics, Advantages and Disadvantages of Hindu
Undivided Family – Meaning, Advantages and Disadvantages of Co-Operative Organization,
One Person Company.

UNIT-II: JOINT STOCK COMPANY:

Joint Stock Company - Meaning - Definition - Characteristics - Advantages and Disadvantages -
Kinds of Companies - Promotion - Stages of Promotion - Promoter - Characteristics - Kinds -
Preparation of Important Documents - Memorandum of Association - Clauses - Articles of
Association - Contents – Prospectus - Contents – Red herring Prospectus- Statement in lieu of
Prospectus (As per Companies Act-2013).

UNIT-III: FUNCTIONS OF MANAGEMENT:

Management - Meaning - Characteristics - Functions of Management - Levels of Management –
Organization Structure – Types of Organization Structure – Skills of Management - Scientific
Management - Meaning - Definition - Objectives - Criticism – Fayol’s Principles of
Management.

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

UNIT-IV: PLANNING AND ORGANISING:

Meaning - Definition - Characteristics - Types of Plans - Advantages and Disadvantages –
Approaches to Planning - Management by Objectives (MBO) - Steps in MBO - Benefits –
Weaknesses—Definition of Organizing-Organization-Process of Organizing - Principles of
Organization - Formal and Informal Organizations - Line, Staff Organizations - Line and Staff
Conflicts - Functional Organization - Span of Control - Meaning - Determining Span – Factors
influencing the Span of Control.

UNIT-V: AUTHORITY, COORDINATION AND CONTROL:

Meaning of Authority, Power, Responsibility and Accountability - Delegation of Authority -
Decentralization of Authority - Definition, Importance, Process, and Principles of Coordination -
Techniques of Effective Coordination - Control - Meaning - Definition – Relationship between
Planning and Control - Steps in Control – Requirements for Effective Control.

SUGGESTED READINGS:
1) R K Sharma & Shashi K. Gupta : Business Organization & Management: Kalyani Publishers
2) Patrick Anthony: Business Organization& Management: Himalaya Publishing House
3) Dr. Manish Gupta, Business Organization & Management: PBP.
4) R. D. Agarwal: Organization & Management: McGraw Hill.
5) S.A. Sherlekar, V.S. Sherlekar: Modern Business Organization: Himalaya Publishing House
6) C.R. Basu: Business Organization & Management: Tata McGraw Hill
7) M.C. Shukla: Business Organization & Management: S. Chand,
8) D.S. Vittal: Business Organization and Management: S. Chand
9) V.S.P. Rao:Organizational Behavior Text & Cases: Himalaya Publishing House
10) Uma Shekaram: Business Organization & Management: Tata McGraw Hill
11) Dr. R. Sushama, Mrs. R. Renuka: Business Organisation and Management: Vedashree Publishers.
12) Dr. R. Sridhar : Business Organisation and Management : S Publishers.
13) Sherlekar & Khuspat Jain: Business Organization& Management: Himalaya Publishing
House
14) R K Chopra: Office Organization& Management: Himalaya Publishing House
15) RS Gupta & BD Sharma:Principles and Practice of Management: Kalyani Publishers
16) RK Sharma: Principles of Management: Kalyani Publishers
17) Mrs. Vinaya Chaturvedi, Ms. Ankita Nagra, Mrs. R. Anuradha & Ms. B. S. Sai Leena:
Business Organization & Management: Professional Books Publishers

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

SEMESTER – I
MJR 103: INCOME TAX - I
PAPER CODE: MJR103 Max. Marks: 80U +20I=100
THPW: 5; Credits: 5 ESED: 3 hrs

Objective: To acquire conceptual and legal knowledge about Income Tax provisions relating to
computation of Income from different heads with reference to an Individual Assessee.

Course Objectives:
1. Understand the basics of income tax and tax laws in India
2. Compute total income and tax liability for individuals
3. Analyze income from various sources, including salaries, house property, and business
4. Apply tax laws and rules to compute income and tax liability
5. Familiarize with tax planning and compliance

Course Outcomes:
1. Compute total income and tax liability for individuals under old and new tax regimes
2. Calculate income from salaries, house property, and business or profession
3. Apply tax laws and rules to determine taxable income and tax liability
4. Analyze and compute depreciation and its impact on business income
5. Apply tax planning strategies to minimize tax liability

UNIT–I: INTRODUCTION:
Direct and Indirect Taxes – Canons of Taxation - Features and History of Income Tax in India –
Definitions and Basic Concepts of Income Tax: Assessee – Deemed Assessee – Assessee-in-
default – Assessment Year – Previous Year - Income Tax general rule and Exemptions to the
Rule– Person – Income – Gross Total Income – Total Income –– Incomes Exempt from Tax.
Residential Status and Scope of Total Income: Meaning of Residential Status – Conditions
applicable to an Individual Assessee – Incidence of Tax – Types of Incomes – Problems on
computation of Total Income of an Individual based on Residential Status under old Tax regime
and New Tax regime Sec. 115BAC

UNIT-II: AGRICULTURAL INCOME:

Introduction – Definition – Tests to determine Agricultural Income – Partly Agricultural and
partly Non-Agricultural Income – Integration: conditions – provisions – computation of Tax on
Integration process. Heads of income: Gross Total Income – Taxable Income – Income Tax
Rates.

UNIT–III: INCOME FROM SALARIES:

Definition of ‘Salary’ – Characteristics of Salary – Computation of Salary Income: Salary u/s
17(1) – Annual Accretion – Allowances – Perquisites – Profits in lieu of Salary – Deductions u/s.
16 – Problems on computation of Income from Salary.

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[Link]. (Tax Procedures) (CBCS) FACULTY OF COMMERCE, OU

UNIT–IV: INCOME FROM HOUSE PROPERTY:

Definition of ‘House Property’ – Exempted House Property incomes– Annual Value –
Determination of Annual Value for Let-out House and Self-occupied House – Deductions u/s.24
– Problems on computation of Income from House Property.

UNIT–V: PROFITS AND GAINS OF BUSINESS OR PROFESSION:

Definition of ‘Business and Profession’ – Procedure for computation of Income from Business –
Rules – Revenue and Capital nature of Incomes and Expenses – Allowable Expenses u/s. 30 to
37 – Expenses expressly disallowed – Deemed Profits – Valuation of Stock – Miscellaneous
provisions u/s 44.
Depreciation: Meaning – Conditions for charge of depreciation – Assets used for Business –
Block of Assets – Rates of Depreciation – Miscellaneous Provisions about depreciation –
Computation of Depreciation –problems on computation of Income from Business.
Income from Profession: Rules– procedure – problems on computation of Income from
Profession.

SUGGESTED READINGS:

1. Income Tax Law and Practice: V.P. Gaur & D.B Narang, Kalyani Publishers.
2. Direct Taxes Law & Practice: Dr. Vinod K. Singhania & Dr. Kapil Singhania, Taxmann
3. Income Tax: B.B. Lal, Pearson Education.
4. Taxation: R.G. Saha, Himalaya Publishing House Pvt. Ltd.
5. Income Tax: Johar, McGrawHill Education.
6. Taxation Law and Practice: Balachandran & Thothadri, PHI Learning.
7. Income Tax: Dr. P.V. Ramana Rao & Dr. A. Sudhakar, National Publishing Co.
8. Direct Tax – I: Dr Ravi M.N,Dr Suman Shetty N: Professional Books Publisher
9. Income Tax Including GST Direct& Indirect Taxes including Prob&Sol: [Link] &
[Link] devi: Himalaya Publishing House
10. Income Tax ( for UG Courses ): [Link] & [Link]: Himalaya Publishing House

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