Format of Course Outline

JAIPURIA SCHOOL OF BUSINESS

INDIRAPURAM, GHAZIABAD
POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)
SUBJECT: LAWS AND TAX MANAGEMENT
Credit :03 ( 20 sessions @1.5 hrs/session) (sub code: FN-02) Trimester , Batch 2018-20

Instructor : Dr. Amrita Kaur, email: amritakaur.dr@gmail.com

Course Objective:

The present course aims at familiarizing the participants with the principles, problems and structure of
different types of business taxes in Indian and relevance of these taxes in business decisions. Besides, a
broad understanding or role of taxation in economic and industrial development of an economy will also
be given.

Pedagogy/Teaching Method:

The emphasis will be on knowledge building through interactive lectures with classroom teaching, PPT’s,
case studies, assignments, quizzes and tests as appropriate.

Evaluation:Weight age

Detailed Course Outline :

Sess Topic Details Ch.& Page

ion no’s
no’s
1-2 Introduction to Income Basic concepts and definitions under Income Tax Act
Tax Act, 1961, 1961: Income Person,Assessee, Assessment year,
Residential Status of an Previous year, objective of Income Tax, Taxation
Assessee structure in India, Concept and definitions-,
Tax Slab Rates for the respective Assessment Year
Residential status; Scope of total income on the basis of
residential status Exempted income under section 10
3-4 Income under the Head Computation of Taxable Income under the different
Salary heads of Income.
Income From Salary : Salient features, meaning of salary,
allowances and tax Liability- Perquisites and their
Valuation, (Theory and Problems)
5-6 Deductions Deduction from salary u/s 16
Deduction u/s-80C - 80U
Retirement benefits

7-8 GTI and Tax Liability, Computation of Total Taxable Income of an Individual:
Income from House Meaning and concept.
Property Gross Total Income - and Calculation of Tax Liability for
 respective Assessment year, Marginal relief, Rebates
Income from House Property: Basis of Chargeability-
Annual Value- Self occupied and let out property-
Deductions allowed.
9-10 Income under the head Chargeability- Meaning and concept of Short term and
Capital Gains long term capital gains-permissible deductions
Exemptions u/s 54
11 Profits and Gains from Computation of Business Income, Deductions allowed
Business and Profession and disallowed u/s
12 Project Presentation
13- Income from Other Chargeability- Meaning and concept, Computation
14 Sources, TDS Tax deducted at source, Leading Supreme court cases

15- Corporate Income Tax Tax Concessions and Incentives For Corporate Decisions.
16 Tax Planning
For Depreciation; Treatment of Losses and Unabsorbed
Items; Carry Forward And Set Off Losses
.
17- Corporate Income Tax Tax And Business Reorganizations: Merger And
18 Amalgamation, Tax Planning Regarding
Employees Remuneration, Tax Appeals, and Revision
& Review. Tax Holiday
19 Goods and Services Tax GST-Benefits Of GST, How Will GST Be Implemented,
Why States Are Against Of GST, Rates Of
GST On Different Items.
20 Filing Of Returns (ITR 1 Appeals; Review; Revision and Rectification. Central
& ITR2) Excise Act 1994 and Excise Planning;
Customs Act and Customs Duties Planning

Software: Excel Utility available at incometaxindiaefiling.gov.in

Text Book : Ahuja, Girish and Ravi Gupta. Systematic Approach to Income Tax. Bharat Law House, Delhi.

Suggested Reading :
Singhania, Vinod K. and Monica Singhania, Students’ Guide to Income Tax, University Edition. Taxmann
Publications Pvt. Ltd., New Delhi.
Pagare, Dinkar. Law and Practice of Income Tax. Sultan Chand and Sons, New Delhi.
Lal, B.B. Income Tax Law and Practice. Konark Publications, New Delhi.
Lakhotia R N - How To Save Wealth Tax (Vision Book 2001, 9th Ed.)
Prasad Bhagwati- Income Tax Law &Practice (Vishwa Prakashan)
Santaram R - Tax Planning By Reports (Taxmann, 1978).
Datey V.S. - Indirect Taxes – Law &Practice (Taxmann, 20th Ed.)

Note: Latest edition of text books and Software may be used