DIRECT TAX MANAGEMENT

Unit-I: Accessibility Criteria

Definitions, Basic concept, person, Assessment year; previous year, assesses, Residential status;
Incidence of tax, income exempt from tax.

Unit-II: Computation of Income under Various Heads

a. Income under head salary: Meaning of salary, Basis of charge of salary income, different
forms of salary, different forms of allowances, perquisites, permissible deductions from salary
income, tax treatment of provident fund & approved superannuation fund, special tax treatment
of salary income of no- resident technicians, deduction under section-80C.
b. Income from house property: Basis of charge, property income not charge to tax, basis of
computing income from let out house property, computing income from self occupied property.
c. Profits and gains of business or profession: chargeable incomes; expenses expressly
allowed as deduction; general deductions; expenses specifically disallowed; compulsory
maintenance of accounts, compulsory audit, assessment in special cases, (retail, transport,
exploration of mineral oil) Computation of taxable income as profit and gain from business or
profession.
d. Capital gains: Meaning of capital asset, valuation of capital asset; transfer, considered to be
transfer, chargeability; computation of capital gain: short term and long term; computation of tax
on capital gains. Exemption from capital gains.
e. Income from other sources: basis of charge; chargeable incomes; specific deductions;
amount not deductible; computation of taxable income from other sources.
f. Computation of net taxable income: computation of total income, carry forward and set-off
of losses and deductions under sec 80 and net taxable income and tax thereof. Cases of Indian as
well as foreign companies, provision of minimum alternate tax and declaration and payment of
dividend, Tax provision in case of mergers, acquisition or amalgamation of company.

Unit-III: Income –tax Payment and Assessment

Tax deduction at source; advance tax; self-assessment tax; assessment procedure regular and best
judgment assess revision, rectification and appeal, provision relating to interest and refund of tax.

Unit-IV: Tax Planning overview for Partnership & Companies

Taxation of Partnership Firms; Taxation of companies – Deductions available to Companies:

Minimum Alternative Tax.
Books Recommended:-
1. Direct Taxes – Law and Practice – Vinod Singhnia
2. Direct Taxes – Ravi Kishore
3. Direct Taxes – J. P. Jakhotiya
4. Direct Taxes- Ahuja
5. Bare Acts and rules of the relevant taxes
 SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT

Unit-I:

Introduction to investment environment, Portfolio Analysis: Analyzing risk and return of

individual security and portfolio, portfolio selection: Markowitz and Sharpe model, the concept
of efficient frontier, Case analysis

Unit- II:

Bond Analysis, Bond portfolio management, Equilibrium Models of asset pricing: Capital asset
pricing model, and Arbitrage pricing model, Case analysis

Unit- III:

Fundamental analysis: Economic analysis, Industry analysis and company analysis, Technical
analysis: The Dow Theory, Predicting the individual stock movement, Predicting the general
market movement, Case analysis

Unit- IV:
Efficient market hypothesis: Weak form and random walk, semi-strong form, strong form and
tests of various forms of efficiency, Portfolio revision, performance measurement of managed
portfolios, Case analysis

Text Books:
1. Alexander, Sharpe & Bailey, Fundamentals of Investment, PHI
2. Fisher & Jordan, Security Analysis and Portfolio Management, Pearson.
Reference Books:
1. Jones- Investments: Analysis and Management-John Wiley
2. Ranganathan- Investments: Analysis and Portfolio Management-Pearson
3. P.Chandra, Security Analysis and Portfolio Management, TMH
4. S. Kevin, Portfolio Management, PHI
5. Bodie, Kane, Marcus and Mohanty, Investments, TMH
6. D. K. Khatri- Investment Management and Security Analysis(Text and cases)-
Macmillan
7. V.K. Bhalla, Investment Management, S. Chand.
 BOOKS RECOMMENDED

1. Direct Taxes – Law and Practice – Vinod Singhnia

2. Direct Taxes – Ravi Kishore
3. Direct Taxes – J. P. Jakhotiya
4. Direct Taxes- Ahuja
5. Bare Acts and rules of the Income tax (Individual)

6. Alexander, Sharpe & Bailey, Fundamentals of Investment, PHI

7. Ranganathan- Investments: Analysis and Portfolio Management-Pearson

8. P.Chandra, Security Analysis and Portfolio Management, TMH
9. 4. S. Kevin, Portfolio Management, PHI
10. D. K. Khatri- Investment Management and Security Analysis(Text and cases)-
11. V.K. Bhalla, Investment Management, S. Chand & sons, New Delhi.