MBA Final Year (3rd Semester) 309 – C: Tax Planning & Management
Objective: The objective is to acquaint the students with important provisions of Income Tax and Technique of planning and management.
Unit - I: Basic Concepts of Income Tax; Residence and Tax Liability, Exempted Incomes under Sec. 10, Computation of Income under the Head, Business and Profession and Capital Gains. Relief to Business under Sec. 80. Unit - II: Computation of Income and Tax Liability of different assesses an Individual, Firm, HUF and Companies. Unit - III: Tax Planning: Concept, Significance and Problems of Tax Planning. Distinction between Tax evasion and Tax avoidance. Tax Planning regarding setting up New business; with reference to location, nature and form of organization of new business. Tax Planning for Financial Management Decisions: Tax Planning relating to Capital Structure Decision, Dividend Policy, Inter-corporate Dividend and Bonus Shares. Unit - IV: Tax Planning in Specific Managerial Decisions: Make or Buy, Own or Lease, Repair or Replace, Shutdown or Continue. Special Tax provisions relating to Free Trade Zones, Infrastructure Sector and Backward areas. Unit - V: Corporate Tax Administration: Assessment Procedure, Tax Authorities, Appeal and Revision, Filing of Return including e-filing, Advance payment of Tax.
Suggested Readings: 1.
Singhania, V. K.: Direct Taxes- Law and Practice, Taxman Pub. (P) Ltd. Delhi
2.
Srinivas, E. A.: Corporate Tax Planning, TMH
3.
Prasad, Bhagwati: Income Tax Law and Practice
4.
Palkiwala, N. A, Palkiwala B. A.: Law & Practice of Income Tax, N. M. Tripathi, Mumbai
5.
Shah, D. A.: A Treatise on Tax Planning, N. M. Tripathi, Mumbai
