17MBAFM403 Tax Management syllabus for MBA

Basic concepts:

assessment year, previous year, person, assessee, Income, charges on income, gross total income, capital and revenue receipts, residential status, receipt and accrual of income, connotation of income deemed to accrue or arise in India. Tax Planning, Tax Evasion and Tax Management. (Problems on residential Status of Individual assessee)

Explanation under various heads of income. Income from salary (Basic problems), Income from House Property (Theory Only)

Income under the head Profit and Gains of Business or Professions and its computation- basic method of accounting- scheme of business deductions/ allowance- deemed profits- maintenance of books, Depreciation (Problems on computation of income from business/ profession of Individual assessee and Depreciation).

Income under capital gain, basis of charge, transfer of capital asset, inclusion & exclusion from capital asset, capital gain, computation of capital gain( theory & problems), deductions from capital gains. Income from Other Sources (Theory Only) Permissible deductions under section 80C to 80U. Setoff and carry forward of losses.

Computation of tax liability of a firm and partners. Computation of taxable income of a company with special reference to MAT. Corporate dividend Tax

Introduction to GST, Levy and exemption, Time and value of supply, Administration of GST. Introduction to Customs duty.

Practical Components:

• Understanding the usage of software package while calculating different taxes
• Preparation of Income tax returns of Individual assesses.
• Preparation of sales tax returns
• Studying the online submission of Income tax returns

Recommended Books :

• Direct Taxes Law and practice, Vinod Singhania and Kapil Singhania, ,Taxman Publications,
• Direct Tax – Lal &Vashisht – Pearson Ed. 28E.
• Students Guide to Income Tax Vinod Singhania and Kapil Singhania, – Taxman Publications
• V S Datey – Indirect Taxes – Taxman Publications.

Reference Books:

• Mehrotra- Direct Tax – SahityaBhavan
• T N Manoharan- Students Guide to Income Tax – Snow White