Corporate Tax Planning provides strategies that are significant in minimizing taxes. Corporate Tax Planning activities generally seek to avoid legally triggering tax costs rather than illegally evading an existing obligation to pay taxes.

Tax planning is a broad term that is used to describe the processes utilized by individuals and businesses to pay the taxes due to local, state, and federal tax agencies. The process includes such elements as managing tax implications, understanding what type of expenses are tax deductible under current regulations, and in general planning for taxes in a manner that ensures the amount of tax due will be paid in a timely manner.

Corporate tax in India is levied on both domestic as well as foreign companies. Like all individuals earning income are supposed to pay a tax on their income, business houses too are supposed to pay as tax a certain portion of their income earned.

The ultimate goal of every taxpayer is to minimise his tax liability. There are three methods to do so:

  1. Tax Planning
  2. Tax Avoidance
  3. Tax Evasion

Tax planning refers to structuring any business transaction, the income and the expenses, in a manner so as to incur least or no tax liability on the transaction.

Tax avoidance is the use of loopholes in the taxation laws and conducting transactions so as to avoid or reduce tax liability.

Tax evasion is the act of avoiding the payment of taxes illegally or by means not specifically allowed under law.



Course Curriculum

Lesson 1: Tax Planning, Tax Avoidance and Tax Evasion
Concept of Tax Planning, Tax Avoidance and Tax Evasion 00:45:00
Tax Planning- Meaning and Advantage 00:45:00
Tax Haven and Offshore Entity- Introduction 00:35:00
Tax Holiday under Section 10A, 10AA, 10B and 10BA 00:50:00
Tax Holiday- Deductions under Section 80IA, 80IAB, 80IB and 80IC 01:30:00
Lesson 2: Minimum Alternate Tax
Slab Rates for Other Assessee- A.Y. 2018-19 01:00:00
Minimum Alternate Tax [MAT]- Analysis of Section 115JB 01:30:00
Numericals on MAT 01:30:00
Lesson 3: Taxable Income under Business & Profession
Residential Status of Other Assessee 00:45:00
Computation of Tax Liability of Company and Employee 00:30:00
Deemed Dividend 00:45:00
Deemed Profit under PGBP as per Section 41 01:30:00
Tax Computation on PGBP for Companies 02:00:00
Deemed Income under Section 68 and 69 01:30:00
Lesson 4: Deductions allowed under Business and Profession
Section 30: Rent, rates, taxes, repairs and insurance for building 01:00:00
Depreciation and Additional Depreciation in PGBP 01:30:00
Section 33AB and 33AC- Tea Development Account and Reserve for Shipping companies 00:45:00
Section 35- Expenditure on scientific research 00:30:00
Section 35A to 35E of PGBP 01:00:00
Section 36 of PGBP- Other Deductions 01:15:00
Section 37 of PGBP- General Deductions 00:45:00
Lesson 5: International Taxation
Lesson 6: Goods and Services Tax
Lesson 7: Tax Planning and Financial Management Decisions

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