Tax Planning

Paper Code: 
24CATG413
Credits: 
04
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

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 Outcomes: 

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

 

 

 

 

 

12.00
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
● Incomes which do not form part of the total income: Exemptions of section 10

12.00
Unit II: 
Tax Planning with reference to Salary Income

● Provisions of salary related to Tax Planning

12.00
Unit III: 
Tax Planning with reference to House property (Sec24) and capital gains (Sec 54)

● Provisions of House Property related to Tax Planning
● Provisions of Capital Gain related to Tax Planning

12.00
Unit IV: 
Tax planning with reference to Business Income, Clubbing, setoff and Investment:

● Provisions of Business and Profession related to tax planning
● Provisions of to clubbing and set off provisions
● Provisions related to investments

12.00
Unit V: 
Areas of Tax Planning

● Form of organization, Location aspects, Nature of Business
● Tax incentives for industrial development and Tax holidays

Essential Readings: 

● 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

References: 

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

Academic Year: