Tax Planning - Practical

Paper Code: 
24CATG414
Credits: 
2
Contact Hours: 
30.00
Max. Marks: 
100.00
Objective: 

This course will enable students to equip with procedure of assessment & latest amendments in Income Tax Act

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course title

24CATG414

 

Tax Planning – Practical (Practical)

 

CO127:  Acquire knowledge regarding  procedure of procuring PAN,   process of getting registered on IT Portal and understand different types of income tax returns

CO128:  Develop an understanding of the provisions of TDS & TCS

CO129:   Calculation of Advance payment of tax  and Interest

CO130: Apply the concept of old tax regime vs New tax regime

CO131: Analyze and evaluate the latest Finance Act provisions for better understanding of amendments in tax structure

CO132: 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.

 

 

6.00
Unit I: 
Basics of Procedure of Assessment

● PAN Card and its requirement
● Procedure for filing application for PAN Card
● Linkage of PAN Card and Aadhar Card
● Procedure for registration on the Income Tax Portal
● Types Of ITR: ITR I to VI

6.00
Unit II: 
Tax Deducted at Source and Tax Collection at Source:

● Provisions of Tax Deducted at Source and Tax Collection at Source related to an Individual Assesse

6.00
Unit III: 
Advance payment of Tax:

● ,Concept, Provisions and Calculation of Interest u/s 234 A, B C

6.00
Unit IV: 
Old Tax Regime VS New Tax Regime:

● Calculation mechanism, Process of Adoption for New tax regime.

6.00
Unit V: 
Study of Latest Finance Act:

● Recent amendments related to an Individual Assesse

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.
● Tax Planning. RBD Publications
● Professional Approach to Direct Taxes- Girish Ahuja & Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
● Direct Tax including Tax Planning and Management- H C Mehrotra

References: 

Suggested Readings:
● Corporate Tax Planning & Business Tax Procedures: V K Singhania
● 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:
● Tax World
● The Chartered Accountant
● The Economist
● Business World

Academic Year: 
2024-2025
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