Integrated Law Courses – Get The Best Of Both Worlds

 

From Mahatma Gandhi to Nelson Mandela to Barack Obama – before becoming figures who shaped the history of the world, they were all practitioners of law. Thus, studying law not only opens prospective career options for you, but it also comes with great social responsibility. Add to that the expertise and the knowledge that is gained from a bachelor’s degree education in a subject and minus at least a year. Confused? This is what an integrated law course is all about!
 
Integrated law courses are designed for you to attain two traditional degrees at the same time. By taking up an integrated law course, a student can pursue two courses under one program. An LLB is usually pursued after a student completes his or her graduation. Integrated courses cover a bachelor’s degree course along with an LLB program right after completing class 12.

This not only saves time but a BA LLB degree holder or a candidate with a B. Com LLB or BSc LLB or BBA LLB degree is of immense value to employers.

Advantages of Taking up Integrated Law courses

  • Students who are keen on pursuing law right after school can do so without having to complete graduation in another subject.
  • This program allows students to get two separate traditional degrees together.
  • An integrated course saves time. A bachelor’s degree education takes 3 to 4 years to complete and an LLB program takes 3 years. Together they take 6-7 years. But an integrated law course takes only 5 years.

Career Options after an Integrated Program in Law

Integrated law courses are not designed to remain enclosed within classrooms. They involve mock courtroom training, case studies, etc. Thus, candidates from this program are valued both in the government sector and private organizations.

  • You can get yourself enrolled with the Bar Council of India and start working as an advocate.
  • Plenty of government jobs await good candidates of integrated law courses. A dual degree holder has a good chance of bagging a government job in a senior post.
  • Good law firms are always on the lookout for candidates that have dual degrees from integrated law courses.
  • You can join the legal teams of multi-national companies.
  • You can practice independently and open a legal consulting firm.

Further studies

  • You can go for LLM or master’s in law course.
  • You can go for an MBA course or a specialized Master of Business Laws or MBL course.
  • Universities abroad also offer integrated post-graduation programmes in Law.
  • You can go for a PhD program.

The integrated law courses of Invertis University Bareilly are very popular among students who want to make Law their forte. Invertis University offers 3 types of integrated law courses –

  • BA LLB – Divided into 10 semesters and covering almost 50 subjects of importance.
  • BBA LLB – Focusing on concepts of business and law and the areas where they merge.
  • B. Com LLB – Aims at a multi-disciplinary approach towards solving socio-legal problems.

Duration – 5 years
Eligibility – 50% (45% for SC/ST) in marks in 10+2
Selection Criteria – On the basis of CLAT/AILET/SCORECARD/IUCET

A candidate with integrated law program degrees are considered highly specialized in state and central government sector as well as private companies. The course combines the best of both worlds.

Income Tax in India (Basics)

Income Tax in India

by Nirbhay Mehta

“Nothing is certain except for death and taxes”

Some say it was mentioned by Ben Franklin, others say Mark Twain or Daniel Defoe

 

Whosoever quoted this has rightly put the words in place. Tax is not taught in schools or colleges, it is something a person learns while earning a regular income. A layman has no clue as to why he is bound to share his income with the government. Taxes seem inevitable and never-ending; tax system in India is frowned upon due to the complicated tax slabs, sections and compliances.

 

With the right amount of knowledge and understanding the basic structuring of income tax in India may help you save your income.

 

According to the Income tax Act, 1961 (hereinafter referred as the Act), section 2(24) defines the meaning of Income in India, with the broad understanding of the definition it mentions:

 

  • A salaried person, amount received from employer, in cash or kind is considered as income
  • Businessman, with the profits and income
  • Professionals
  • Rental income
  • Capital gains from sale of shares, property etc.
  • Investments

 

By understanding the meaning of income mentioned in the Act, one may ask as to how one can reduce the tax burden. There are two ways of reducing the tax burden.

  1. Tax avoidance and;
  2. Tax evasion

 

These two methods may sound similar but there are key differences between the two.

 

 

S.no.

Tax Avoidance

Tax Evasion

1.

Minimising tax liability by taking means which do not violate the rules and section of Income tax

Minimising tax liability by incorporating

illegal ways

2.

Immoral in nature, it involves bending the law without breaking the law

Illegal and objectionable in script and moral

3.

It is legal in India

It is illegal in India and is a criminal offence

4.

Deferment of tax liability

Penalty or imprisonment

 

 

Income tax returns are filed under section 139 of the Act. Individuals, companies, NGOs, International companies with income incurring in India; all have different dates of filing income tax returns.

 

According to the current financial year, the tax slab is as under*: –

 

S.No

Income tax Slab (Amount in Rs.)

Tax rate for individuals below 60 years (Amount in Rs.)

1.

Up to 2,50,000/-

Nil

2.

2,50,001 to 5,00,000/-

5%

3.

5,00,001/- to 10,00,000/-

12,500/- + 20% for income exceeding 5,00,000/-

4.

Above 10,00,000/-

1,12,500/- + 30% for income exceeding 10,00,000/-

 

*The above rates do not include surcharge and cess.  

 

  • 10% surcharge is applicable on income tax if income exceeds Rs. 50,00,000/- but it is up to Rs.1,00,00,000/-
  • 15% surcharge is applicable on income tax if income exceeds Rs.1,00,00,000/-
  • 4% health and education cess is applicable on the income tax and applicable surcharge.

Individuals having total income below Rs.5,00,000/- are eligible for full tax rebate under section 87A of the Act.

Section – 143 & 148 – Interim Relief for the Complainant in the Cheque Bouncing Case.

Aim of this amendment is to curb out the unnecessary burden of the cases filed where there are chances people will  try to resolve among themselves by way of settlement or mediation.

Synopsis: –

1. A sum of 20% of the bounced cheque be deposited within 60 days from the date of the order and further extention of 30 days may be granted by the Court if deems fit.

2. Incase, the drawer is acquited, the said sum be complusarily refunded back to the drawer and the said repayment be made within 60 days from the date of the Order.