Corporate Tax Planning

Paper Code: 
EMF 622
Credits: 
4
Contact Hours: 
60.00
Objective: 
  • To provide an insight into the concept of Corporate Tax planning and to equip the students with a reasonable Knowledge of tax planning devices
12.00
Unit I: 

Introduction:
Definitions: Income, Person, Assessee, Assessment Year, Previous Year, Gross Total Income, Total Income, Residential Status, Agricultural Income.
 

12.00
Unit II: 

Taxation of Companies:
Definitions: Company and its types, Heads of Income, Deductions from Gross Total Income for Companies, Simple Problems on Computation of Taxable Income of Companies.
 

12.00
Unit III: 

Tax Planning: Concepts relating to Tax Avoidance and Tax Evasion and Tax Planning, Tax planning with reference to: Location of Undertaking, Type of Activity, Ownership Pattern, Tax Planning relating to: Mergers and Demergers of Companies.

12.00
Unit IV: 

Tax Considerations in respect of Specific Financial and Managerial Decisions: like Capital Structure Decisions, Deemed Dividend, Make or Buy, Own or Lease, Repair or Renewal, Managerial Remuneration.

12.00
Unit V: 

Tax Management: Filing of Returns and Assessments, Penalties and Prosecutions, Appeals and Revisions, Advance Tax, TDS, Advance Rulings, Avoidance of Double Taxation Agreements.

 

*A minimum of one case study will be discussed per unit of the syllabi.

References: 

Text Books:

  1. Ahuja Girish, Gupta Ravi, (2010). Systematic Approach to Income Tax Planning and Management”, Bharat Law House Pvt. Ltd., New Delhi.
  2. Singhania V.K., Singhania Monica, “Corporate Tax Planning and Business Tax Procedures”, Taxman Publications, Delhi.

Suggested Readings:

  1. Nitin Vashisht and B.B.Lal (2008). Direct Taxes: Income Tax, Wealth Tax and Tax Planning, 29th Edition, Pearson Education.
  2. Lal, B.B. (2008). Income Tax and Central Sales Tax : Law and Practice, 29th Edition, Pearson Education.