CLS-CORPORATE TAX (HONS.

)
B.A.LL.B. (Hons.)

INTRODUCTION:
Our ancient history and culture give us in India our unique identity. Ancient lawgivers and
philosophers, like Manu and Chanakya, wrote extensively on the duties of a sovereign and
their relationship with the subjects. They laid foundations of mighty empires and enabled the
spread of India’s unique culture and civilization across many countries. When Mr. James
Wilson introduced Income Tax in India in its modern form, he was only following in the
footsteps of this illustrious tradition. The ancient dictum, ‘Kosh Mul Danda’ continues to be
as relevant today as it was thousands of years back. At that time, though the existence of
industrialization and trading was at its acute stage, but taxation of the transactions by these
above bodies prevailing.

The concept of tax planning, tax avoidance and tax evasion has received extensive judicial
attention in India. However in recent times this subject has gained much importance because
of the increasing tendency of the Revenue to examine with microscope any transaction that
leads to reduction in tax liability.

The study of Corporate Tax or Corporation Tax has received huge importance in modern
times as globalization has led to entry of companies in India which not only generate
employmentbut also bring revenue to state. The implication of tax and its study commences
from the very birth of any company and continues till the liquidation of the company under
the study of corporate tax. Tax authorities have to support the object of the policies framed by
State, and in this sense we study various provisions which facilitate the companies to develop
and generate economy to the nation. Nevertheless, the provisions are amended to support the
policies but the tax authorities will continue to charge tax on these corporate bodies having
different status.

Recently we have seen the law courts trying to compute tax on the overseas transactions of
the companies, which proves the competency and power of the tax authorities in India and
their vigilance over the transactions which draw some impact in India. So the reconstructions
or rehabilitation of the companies have separate importance and scope of study under the tax
perspectives. We need to study the classifications of companies done by the financial
perspectives and social object.

MODULE----3
TAX IMPLICATION
1. Taxation with reference to Newly Established Business.
a. Location of a Business.
b. Nature of Business.
c. Form of Business.
2. Taxation with reference to Start ups.
3. Taxation with reference to special category states.

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MOUDLE----4
BUSINESS TAX PROCEDURE AND MANAGEMENT
1. Double Taxation Avoidance Agreement.
2. Advance Payment of Tax.
3. Collection of Tax at Source and E—TDS Return.
4. Tax Planning and Management.

MOUDLE----5
TAX ON BUSINESS RESTRUCTURING
1. Amalgamation and Demerger with reference to Corporate Tax
2. Slump Sale with reference to Corporate Tax.
3. Transfer of Assets between Holding Companies and Subsidiary Companies.
4. Takeover code with reference to Corporate Tax.

Reference:
BOOKS: ---
1. Income Tax Law by Chaturvedi & Pithisaria (Wadhwa Publication).
2. Income Tax Law by V.K.Puri (Jain Books Agency Publication)
3. Law of Income Tax by Sampath Iyengar (Bharat Publication).
4. Corporate Tax Planning by V.K.Singhania (TAXMAN PUBLICATION).
5. Corporate Tax Planning by Daniel Q. Posin (Little Brown & Company, London).
6. Corporate Tax Planning and Management Direct Tax Law & Practice by Girish Ahuja
& Ravi Gupta (Bharat Publication).
7. Guide on Foreign Collaboration by Rajiv Jain (India Investment Publication).
8. Tax Incentives for Foreign Direct Investment by Alex Easson (Kluwer Law
Internation).
9. Corporate tax planning by Daniel Q. Posin (Little Brown & Company, London).
10. Double Taxation, Tax Treaties, Treaty Shopping by Christiana HJI Panayi (Kluwer
Law International).

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