MBA - Security Analysis and Portfolio Management

MBA

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MBA - Taxation Management SYLLABUS

Course Code: FIN303

Course Title: Taxation Management (4 Credits)

 

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Course Contents

Unit 1

Introduction to Taxation Management -types of Taxes, concept, objectives and factors to be considered for Tax Planning. Tax Planning, Tax Evasion and Tax Avoidance. Tax Planning of Specific Categories of Income, Income from House Property and Income from business are also discussed.

Unit 2

Structure, Taxable and Exempt Incomes, Set-offs - Broad Schema of Income Tax Law, Finance Acts.  Rates of Taxes Applicable to Different Types of Taxpayers are also dealt.

Unit 3

Income Tax Deductions, Computation, Payment and Accounting- deductions from Gross Total Income, Rebates and Reliefs and Computation of Taxable Income and Tax Payable, Filing of Income Tax Returns – Provisions, Forms and Due Dates, Notices and Assessments.

Unit 4

Taxation of Salaried Income - definition of salary, Fringe benefits and perquisites, Profit in lieu of salary and tax planning avenues for salary income are dealt.

Unit 5

Taxation of Capital Gains - meaning of Capital Gains and Capital Losses, types of Assets, meaning of ‘Asset Transfer’, Provisions relating to Capital Gains Tax and exemptions from Capital Gains Tax.

Unit 6

Tax Planning for Firms, HUFs and AOPs- partnership firm under Income Tax Law, tax deductions available to firms, Provisions relating to interest and remuneration paid to partner, Computation of partnership firms’ book profit, Set-off and carry-forward of losses of Firms and taxation of HUFs and Associations of Persons (AOPs).

Unit 7

Corporate Taxation- Computation of taxable income, Carry-forward and set-off of losses for companies, Minimum Alternative Tax (MAT), Set-off and Carry-forward of Amalgamation Losses, Tax Planning for Amalgamation, Merger and Demerger of Companies, Tax Provisions for Venture Capital Funds

Unit 8

Tax Audit and Accounting for Income Tax - Tax Audit, Qualities and Qualifications Required in Tax Auditors, Forms, Reports and Returns and Tax Reporting and Disclosure in Financial Statements

Unit 9

Wealth Tax and Other Direct Taxes - Wealth Tax Act and Rules, definition of Wealth and Its Components Wealth escaping Assessment, Assets Exempt from Wealth Tax, Gift Tax Act and Rules and Estate Duty Act, Banking Transactions Act and Securities Transaction Act

 

Unit 10

Direct Taxes Code- Income Tax Charge, Income Tax on Distribution, Wealth Tax Prevention of Abuse of the Code and Tax Management.

Unit 11- Indirect Taxes - Central Excise, Customs Duty, Sales Tax and Value Added Tax (VAT), Service Tax, Entry Tax and Octroi and Purchase Tax

Unit 11

Service Tax - Service Tax Law in India, the concept of ‘Negative List’, Categorization of Taxable and Tax-free Services, Exemptions and Rebates from Service Tax, Provisions for Rectification of Mistakes and schemes of Assessment

Unit 12

Service Tax - Service Tax Law in India, the concept of ‘Negative List’, Categorization of Taxable and Tax-free Services, Exemptions and Rebates from Service Tax, Provisions for Rectification of Mistakes and schemes of Assessment

Unit 13

 

Tax Planning with Reference to Nature of Business - relevance of Tax Provisions in Deciding the Nature of Business, Tax Provisions for Certain Types of Businesses, Businesses given Special Tax Treatment, Tax Provisions for Offshore Banking Units and Special Tax Zones.

Unit 14

 

Tax Aspects of Operating and Financial Decisions - Tax implications of financing decisions, tax considerations of Dividend Policy

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