M.

COM 3rd SEM (2017-18)

Subject:- Tax planning and management
Total Marks =100
External= 80
Internal= 20
Entry Behaviour:-

1-The learners are familiar with Meaning of direct and indirect taxes

2- The learners know about rebates and reliefs

3- The learners are familiar with company and its kinds

4- The learners are familiar with types of businesses.

Learning Outcomes

The learners will be able to define to understand the concept of tax planning and its implications to reduce tax
burden by availing the benefits admissible under the law.

Major Objectives:-/COURSE OBJECTIVES

The aim of this course is to familiarize the student with major latest provisions of Indian tax laws and related judicial
pronouncements pertaining to corporate enterprises having implications for various aspects of corporate planning
with a view to drive maximum possible tax benefits admissible under the law.

UNIT-I
Detail of Unit Plan:-

Topics Teaching Specific Methods, Resources & Links

Points Objectives Approaches
and
Techniques
1. Structure of  Concept and The student Class room
direct and significance will be able teaching Tax planning and
indirect taxes  Problems of to recognize management
tax planning the concept Publishers: kalyani
 Tax evasion of taxation pb.
and tax in india and Authors:V.P Gaur,
avoidance also tax Rajeev Puri, Joy
planning to Dhingra
reduce the Direct taxes: laws
tax burden. and practice
 2. Recognized  Claims for The student Presentation publisher: Taxman
methods of tax deduction will enable by students Authors: V.K
planning  Taking to and Singhania
advantage of understand discussion www.scribd.com
various reliefs how tax method www.slideshare.com
and rebates provisions
 Tax free can be used
sources of to get tax
income benefits
within law

QUESTION BANK:
Long Answer type questions
Q1. Explain the need, meaning and limitations of tax planning.

Q2. Discuss various implications of tax planning.

Q3.Explain in brief the provisions relating to claim of expenses on scientific research.

Q4. What are the provisions of law relating to preliminary expenses?

Q5. Explain the terms tax evasion, tax avoidance and tax planning. Distinguish between tax evasion and tax
avoidance.

Q6. Discuss briefly the provisions of income tax act regarding deductions to be made in computing the total income
of an assessee in respect of certain payments.

UNIT-II

Detail of Unit Plan:-

Topics Teaching Specific Methods, Resources & Links
Points Objectives Approaches
and
Techniques
 Meaning of The student Class room
1 ) Kinds company under will be able to teaching Tax planning and
of IT act learn the types and management
companies  Residential of companies discussion Publishers: kalyani
status of and various method pb.
company tax laws in Authors:V.P Gaur,
 Implication for respect of Rajeev Puri, Joy
tax planning companies. Dhingra
This part also Direct taxes: laws
give students and practice
knowledge publisher: Taxman
about how to Authors: V.K
use these Singhania
provisions for www.scribd.com
managing tax www.slideshare.com
of company.
 2)  Assessment of It helps the Lecture
Assessment companies for learners in method
of taxation understanding
companies purposes computation
including carry of taxable
forward and set income of
off of losses. companies and
amount of tax
payable
accordingly.
QUESTION BANK:
LONG QUESTIONS:
Q1. Explain the process of computation of gross total income of a company.

Q2. Explain in brief the various deductions under section 80 which can be claimed by a company.

Q3.Discuss in detail provisions of Minimum Alternate Tax u/s 115JB.

Q5. Explain special provisions relating to tax on distributed profits

Q6. What do you understand by corporate tax planning?

UNIT-III

Detail of Unit Plan:-

Topics Teaching Specific Methods, Resources & Links

Points Objectives Approaches
and
Techniques
 Selection of With the help Class room
1 )Tax type of of this topic teaching Tax planning and
implications business unit students will management
in planning  Tax planning come to know Publishers: kalyani
of business in context of how to avail pb.
unit exemptions, benefits of Authors:V.P Gaur,
incentives , various Rajeev Puri, Joy
export exemptions Dhingra
promotion while setting Direct taxes: laws
and other up new and practice
deductions in business. publisher: Taxman
respect of Authors: V.K
setting up Singhania
new industrial www.scribd.com
establishment www.slideshare.com
 Planning for
tax holiday
benefits.
 Topics Teaching Specific Methods, Resources &
Points Objectives Approaches Links
and
Techniques

2) Specific  Make or buy It helps the Lecture

management decision learners in method
decisions  Own or lease understanding
 Repair or tax
replace implications of
 Export vs major
local sales managerial
 Shut down or decisions
continue
 Expand or
contract
QUESTION BANK:
LONG QUESTIONS:
Q1. Explain incentives to be kept in mind while selecting locate on of business.

Q2. Explain the comparative features of various forms of organization from tax point of view

Q3. Discuss various tax provisions related to company form of organization.

Q4. Explain the tax provisions regarding owing of an asset or leasing.

Q5. Explain tax provisions regarding make or buy decisions.

UNIT-IV
Detail of Unit Plan:-

Topics Teaching Specific Methods, Resources & Links

Points Objectives Approaches
and
Techniques
 Central excise With the help of Class room
1) tax- planning in this topic teaching Tax planning and
Indirect relation to students will management
tax nature of understand Publishers: kalyani
planning activity, methods and pb.
commodity,scal opportunities of Authors:V.P Gaur,
e of unit etc reducing Rajeev Puri, Joy
 Special reliefs indirect taxes Dhingra
forexport and payable by Direct taxes: laws
SSI units availing and practice
 Set off of duties benefits of publisher: Taxman
 VAT/sales tax provisions Authors: V.K
 Export contracts available. Singhania
and implications www.scribd.com
on penultimate www.slideshare.com
sales and
canalized
exports
LONG QUESTIONS:
Q1. Elaborate the role of exemptions in mechanism of tax planning.
Q2. How can tax planning be done to avail the exemptions on the basis of location of units?
Q3. What are the special reliefs available for exports under central excise laws?
Q4. What is CENVAT? State conditions for availing of credit under CENVAT.
NOTE: 70% of the syllabus will be completed before house examination and remaining 30% will be completed after
house exams
SUBMITTED BY:
Asst. Prof. Maanvi Arora