SkillX - Essentials of Tax planning



Essentials of Tax planning
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Finance
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Description
Taxes are most important source of revenue for the Government. These can be categorized as Direct taxes and Indirect Taxes. Direct taxes are those taxes which are charged directly on the income or revenue generated by an Assesses. For example Income from Salary, Income from Business and Profession, Income from House Property, Income from Other Sources like winning from lotteries, horse races etc. whereas Indirect taxes are those taxes where people pay indirectly to the Government, for example Service Tax, Sales Tax, Value Added Tax etc. thus direct taxes are direct hit on a person’s income whereas indirect taxes are indirect hit on the earning capacity of a person.

Curriculum

Module 1: Introduction To Tax Planning

Tax Planning, Meaning Of Tax Planning , Techniques Of Tax Minimisation , Tax Planning Vs. Tax Evasions And Avoidance, Tax Planning Vs. Tax Management , Essentials And Avenues Of Tax Planning, Importance And Nature Of Tax Planning, Deductions, Deductions And Exemptions Available To NRI, Computation Of Tax Liability Of NRI, Double Taxation Relief

Module 2: Tax Liability of Various Financial Products

Introduction To Financial Products, Equity Shares: Listed And Unlisted , Equity Oriented Products, Exchange Traded Funds(Etfs), Equity Linked Savings Scheme (ELSS), Difference Between Mutual Fund And ELSS, Debt Products, Bonds, Debentures, Government Securities, PPF And Small Saving Schemes, Tax On Various Financial Transactions.

Module 3: Types Of Trust And Taxation Of Trust

Trust, Meaning And Definition Of Trust, Characteristic Of Trust, Essentials Of Trust , Trust Creation Documents- Trust Deed And Memorandum Of Association, Classification Of Trust, Meaning, Definition And Creation Of Charitable Trust, Charitable And Religious Trust, Registration Of Charitable Trust, Incomes Of Charitable And Religious Trusts.

Module 4: Tax Implications Of Trusts

Accumulation Of Incomes, Exemptions Available To Trust, Cases Where Exemptions Are Not Available, Tax Treatment Of Different Sources Of Incomes Of Charitable Trusts, Withdrawals And Exemptions , Levy Of Tax At The Maximum Marginal Rate.

Module 5: Property Documentation

Transfer Of Property, Documents For Transfer Of ‘Land And Building’, Agreement Of Sale, Content Of ‘Agreement To Sale’, Sale Deed, Content Of A Sale Deed, Essential Clauses Of A Sale Deed, Deed Of Assignment, Meaning And Types, Power Of Attorney, Meaning And Types, Memorandum Of Understanding, Mutation: Meaning And Needs

Learning Outcomes

  • Classify the debt products
  • Recall deductions and exemptions allowed to NRI
  • Discuss various techniques of tax minimisation
  • Discuss the scope of security transaction tax
  • Differentiate public and private trust

Who Should Attend?

  • Bachelor of Business Administration
  • Bachelor of Commerce
  • Master of Business Administration

Job Prospects

  • Charted Accountant
  • Finance Manager
  • Accountant
  • Tax Analyst
  • Auditing

Certification

After completing this course and successfully passing the certification examination, the student will be awarded the “Essentials of Tax Planning” certification.

If a learner chooses not to take up the examination, they will still get a 'Participation Certificate'.


Faculty Profiles
Frequently Asked Questions