Course Objectives

  • To impart a basic understanding of the essential elements of direct and indirect taxes.
  • To provide a strong conceptual framework for management students to appreciate the significance and impact of taxation on managerial decision making.
  • To help the management graduate to practice tax laws in their day–to–day functions and keep abreast of all current developments.

UNIT I Income Tax

Behavioural Finance: Nature, Scope, Objectives, Significance and Application. The Psychology of Financial Markets and Investor Behaviour, Behavioural Finance Market Strategies, Prospect Theory and Mental Accounting - Investors Disposition Effect.

UNIT II Corporate Taxation

Classification, Tax incident, Computation of Taxable income and assessment of tax liability, dividend distribution tax, Minimum alternate tax and other special provisions relating to companies – Tax deduction at source, tax collection at source, recovery and refund of tax – Advance Tax.

UNIT III Indirect Tax

Introduction to Indirect Taxes – Basic concepts of GST – Valuation of Goods – Meaning and Scope of Supply Under GST – Taxability – Taxes to be Subsumed and not to be Subsumed under GST

UNIT IV Customs Duty

Basic concepts of customs duty – Classification of customs duty – Valuation under customs law – Conveyance, Clearance and warehousing– procedures – Baggage – post – stores and postal goods – Indirect Taxes on financial and operational decisions.

UNIT V Tax Planning and Management

Double taxation avoidance agreement and tax heavens – Tax planning and Management – Tax Planning with reference to Business Restructuring

Learning Resources

  • Vinod Sighania, Direct taxation, Taxmann publication, Latest Edition.
  • CA G. Sekar, Student reference on indirect taxes, Wolters Kluwer India Pvt Ltd., first edition
  • CA G. Sekar, Revision guide for taxation, Wolters Kluwer India Pvt Ltd., first edition
  • .Girish Ahuja, Tax Planning and Management, Word–Press, latest edition

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