TAX PLANNING

Paper Code: 
AAF 515
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (Cos):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO164: Students will be able to focus the framework of Income Tax Laws and Tax Planning.

CO165: Evaluate knowledge of exemptions U/S 10.

CO166: Value summarized provisions of tax planning related to salary, house property and capital gain.

CO167: Analyze summarized provisions of tax planning related to investments, clubbing and set off.

CO168: Basic tax planning with reference to different aspects of business.

Interactive Lectures, Discussion, Tutorials, assignments and application-based questions

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

 

 

 

 

9.00
Unit I: 

Concept of Tax Planning: Basic framework of Income Tax Law; Canons of Taxation
Meaning of Tax Planning, Tax Avoidance and tax evasion; objectives of tax planning, Overview of GAAR and SAAR, Tax Planning relating to residential status

9.00
Unit II: 

Incomes which do not form part of the total income: Exemptions of section 10

9.00
Unit III: 

Tax Planning with reference to Salary Income (Sec 16), House property (Sec24)
and capital gains (Sec 54)

9.00
Unit IV: 

Tax Planning with reference to new Tax regime Section 115 BAC
Tax planning with reference to clubbing and set off provisions
Tax planning with reference to investments
Tax incentives for industrial development and Tax holidays

9.00
Unit V: 

Tax planning with reference to following areas:
Form of organization, Location aspects, Nature of Business. employee remuneration
Tax planning for Financial Management and Capital Structure

Essential Readings: 

• Professional Approach to Direct Taxes- Girish Ahuja & Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
• Direct Tax Planning and Management- Vinod. K. Singhania (Taxmann’s
• Tax Planning- RBD Publications

References: 

• Tax Planning via Status in Direct tax matters-Bhargava S.R ,& Jain N.L
• Corporate Tax Planning-E. A Shrivastva

e- RESOURCES:
• https://www.incometaxindia.gov.in/pages/tutorials.aspx
• https://www.taxmann.com/virtualbooks/product/6695-income-tax-act-2021-vi...

REFERENCE JOURNALS:
• The Chartered Accountant
• Tax World

Academic Year: 
2023-2024
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