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Tax Planning
The objective of this course is to familiarize the students with latest provisions of Indian Tax Laws to derive maximum possible tax benefits admissible under the law.
Course Outcomes (COs):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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AAF 516 |
Personal Tax Planning |
CO 187: Describe the importance of taxes for personal financial planning. CO 188: Select appropriate tax strategies for different financial and personal situations. CO 189: Understand summarized provisions related to salary, house property, capital gain and other sources. CO 190: Understand summarized provisions related to deduction permissible U/S 80C to 80U. CO 191: Calculate taxable income and tax liabilities of individuals. |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, Team teaching
Learning activities for the students: Self learning assignments, Effective questions, Seminar presentation, Giving tasks. |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects
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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
Tax Planning with reference to Salary Income(Sec 16) , House property(Sec24) and capital gains(Sec 54)
Case studies based on designing pay package
Tax planning with reference to clubbing and set off provisions
Tax planning with reference to investments
Tax incentives for industrial development and Tax holidays
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
Incomes which do not form part of the total income
1.Direct Tax Planning and Management- Vinod. K. Singhania(Taxmann’s
2.Tax Planning- N. K Sharma(Ramesh Book Depot)
1. Tax Planning via Status in Direct tax matters-Bhargava S.R ,& Jain N.L
2.Corporate Tax Planning-E.A Shrivastva
3.Law of Income Tax- A.C Sampath, Iyenger(Bharat Publishing House Allahabad)
Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless
