Objective- This course will enable the students to:
• Have an understanding of various aspects of Tax Planning
• Learn strategies to minimize tax liability of an individual
• Learn various aspects of Corporate Tax Planning
• Have an insight into Managerial Decision Making from Taxation point of view
COURSE LEARNING OUTCOME:
Students will be able to:
• Have a broad understanding of the concept of Tax Planning, Tax Evasion, Tax Avoidance and Tax Management
• Evaluate various investment avenues for minimizing the tax liability of an Individual
• Identify Taxation aspects to be considered while making Managerial decisions.
Constitutional Provisions, Tax Planning and Tax Management: Constitutional provisions as regards Taxation in India. Concept of Tax Planning, Tax Management, Tax Avoidance and Tax Evasion and difference between them. Objectives, types, areas and requisites of Tax Planning
Doctrine of Form and Substance ,Doctrine of Precedence
Judicial Thinking: M/s Mc Dowell and co. ltd vs Commercial Tax officer(SC), Ramsay vs. Inland Revenue commissioners
System of Advance Ruling
Personal Tax Planning of an Individual Assessee: Tax Planning with reference to an Individual
Corporate Income Tax in India: Form of organization, Location aspects, Nature of Business. Tax Planning with reference to Corporate restructuring.
Tax Planning in reference to employee remuneration. Tax planning in context of court rulings and legislative amendments.Tax planning Management Cell
Tax Planning with reference to Managerial Decisions: Capital structure Decisions, Bond Washing Transactions and Bonus shares. Planning in respect to Make or Buy Own or Lease, repair, replace, renewal and renovation
1. How to save income tax by tax planning-R.N Lakhotia(Vision Books New Delhi)
2. Direct Tax Planning and Management- Vinod. K. Singhania(Taxmann’s
3. Tax Planning- Prof. C.K.Shah (Ramesh Book Depot)
4. Tax Management- R.N Lakhotia
5. Tax Planning via Status in Direct tax matters-BhargavaS.R ,& Jain N.L
6. Corporate Tax Planning-E.A Shrivastva
7. Law of Income Tax- A.C Sampath, Iyenger(Bharat Publishing House Allahabad)
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/tax-planning-15
[2] https://accountingtaxation.iisuniv.ac.in/academic-year/2021-2022