Delhi University TYBMS Sem 5 Syllabus: Tax Planning for Business

Tax Planning is an ongoing process of looking at various tax options in order to determine when and how to conduct business so that taxes are eliminated or considerably reduced. Tax planning for business presents many challenges and complexities. Tax planning for business aims to reduce the amount of taxable income, lower your tax rate, control the time when the tax must be paid, claim any available tax credits, control the effects of alternative tax and avoid the most common tax planning mistakes.

The objective of Tax planning for business subject is to acquaint DU BMS students with the tax structure for individuals and corporate and also its implications for planning.

Here we present Delhi University TYBMS Sem 5 Syllabus: Tax Planning for Business:

Unit 1- 8 lectures

1. Income tax concepts
2. Previous year
3. Assessment year
4. Person
5. Assessee
6. Income including agricultural income
7. Residential status and their incidence of tax
8. Gross total income
9. Total income
10. Income which do not form part of total income
11. Tax evasion
12. Tax avoidance

Unit 2 – 10 lectures

Computation of income under the head – salary

Unit 3 – 12 lectures

1. Computation of income under the head – house property and profits and gains from business or profession
2. Computation of income under the head – capital gains and income from other sources

Unit 4 – 18 lectures

1. Clubbing of income
2. Set-off and carry-forward of losses
3. Deductions from gross total income as applicable to an individual and business units
4. Computation of total income and tax liability of an individual and business units
5. Procedure for assessment – e-filing of return
6. Introduction to Goods and Services Tax (GST)  and Direct Tax Code (DTC)

Unit 5 – 8 lectures

1. Meaning of tax planning and management
2. Nature, scope and justification of corporate tax planning
3. Computation of taxable income and tax liability of companies
4. Minimum alternative tax
5. Introduction to tax planning with reference to financial decisions
6. Tax planning with reference to amalgamation of de-merger of companies – only theory

Textbooks and References:

1. Student Guide to Income Tax – Singhania, V.K.
2. Simplified Approach to Corporate Tax – Ahuja and Gupta
3. Simplified Approach to Income Tax – Ahuja and Gupta
4. Income Tax Law and Practice – Mahesh Chandra and Shukla, D.C.
5. Tax Planning and Management – Goyal, S.P.
6. Student Guide to Income Tax – Singhania, V.K.

Other online reading or supporting material-

• Finance Act for the relevant assessment year
• CBDT Circulations
• Latest Court Judgements for the relevant assessment year