Course Objectives: This course will enable students to familiarize with the latest provisions of Indian Tax Laws to derive maximum possible tax benefits admissible under the law.
Course |
Learning outcome (at course level)
|
Learning and teaching strategies |
Assessment Strategies |
|
Course Code |
Course Title |
|||
24CATG413 |
Tax Planning (Theory)
|
CO121: Demonstrate an understanding of the concept of Tax Planning, Tax Evasion, Tax Avoidance and Tax Management and gain knowledge of residential status & exemptions U/S 10 CO122: Apply provisions of tax planning with reference to salary income CO123: Apply provisions of tax planning with reference to house property and capital gain CO124: Execute provisions of tax planning related to business income, investments, clubbing and set off. CO125: Analyse provisions related to forms of organization, Nature and Location of Business from the point of view of tax planning CO126: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, Reading assignments; Solving Questions.
Learning activities for the students: Self-learning assignments , Effective questions, Seminar Presentation |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects
|
● 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
● Incomes which do not form part of the total income: Exemptions of section 10
● Provisions of salary related to Tax Planning
● Provisions of House Property related to Tax Planning
● Provisions of Capital Gain related to Tax Planning
● Provisions of Business and Profession related to tax planning
● Provisions of to clubbing and set off provisions
● Provisions related to investments
● Form of organization, Location aspects, Nature of Business
● Tax incentives for industrial development and Tax holidays
● Ahuja,G. & Gupta,R. Professional Approach to Direct Taxes. Bharat Law House Pvt Ltd, New Delhi
● Vinod. K. Singhania. Direct Tax Planning and Management. Taxmann’s
● Tax Plannin. RBD Publications
Suggested Readings:
● Bhargava, S.R & Jain N.L . Tax Planning via Status in Direct tax matters
● Shrivastva , E. A. Corporate Tax Planning
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