Personal Tax Planning

Concept of Tax Planning
Meaning of Tax Planning, Tax Avoidance and tax evasion;
objectives of tax planning
Basic framework of Income Tax Law; Canons of Taxation
Tax Planning relating to Residential Status and to
agricultural income
Tax Planning with reference to Residential status- Relevance
of residential status in computing taxable income,
Determination of residential status of an individual,
Relationship between residential status and incidence of tax
Provisions in brief relating to concept of agricultural income
and its tax treatment

Tax Planning with reference to Salary Income
Summarized provisions relating to computation of income
under the head salary
Taxation of present benefits
Bonus, fees and commission
Meaning, Types and Tax Implications of Allowances
Meaning, Types, valuation and Tax Implications of
Perquisites
Terminal benefits like gratuity, leave encashment, commuted
pension, tax relief u/s 89(1)
Case studies based on designing pay package

Tax Planning in respect of income from house property,
capital gains and income from other sources
Computation of income from House Property; Permissible
deductions; identifying areas of tax planning based on tax
implications’ case studies
Summarized provisions relating to computation of Capital
Gains and tax liability;
Identifying assets which do not attract capital gains tax,
transaction which are not to be treated as transaction of
transfer of assets; identifying leading areas of tax planning-
case studies

Summarized provisions relating to computation of income
from Other Sources; Identifying income which are exempt
(Dividend from domestic company; interest income governed
by section 10(15); Gifts covered by exemption
Summarized provisions relating to clubbing of income; Areas
of tax planning;
Summarized provisions relating to set off of losses; Areas of
tax planning

Summarized provisions relating to deduction permissible u/s
80 C, 80CCC, 80CCD, 80CCG, 80D, 80DD, 80DDB, 80E,
80EE, 80G, 80GG, 80TTA & 80U. Areas of Tax Planning-
case study
Computation of Total Income and Tax Liabilities of
Individuals
Due Date of Filing Return of Income / Self Assessment u/s
140 A