S. P. MANDALI’S PRIN L. N.

WELINGKAR INSTITUTE OF MANAGEMENT

DEVELOPMENT & RESEARCH

ACADEMIC DELIVERABLES CELL (ADC)

TEACHING AND LEARNING PLAN (TLP)

Title of the Subject

Business Taxation

Subject Code

F 305

No. of Credits

1.5

No. of Hours

16

No. of Sessions 8
Marks 50
Pre-requisite Subject(s), if any Nil
Name of the Program/Division PGDM 2020-22 ( Batch I )
Specialization, if any -
Subject Revision No.
Academic Year 2020-21
Trimester/Semester III
Syllabus Revision No. 16
Name of the Faculty CA Seema Korgaonkar
Faculty Email Address seemakorgoankar@gmail.com
Faculty Mobile No. 9819765261

Description of the Subject:

1
Business taxation refers to the taxes, every business must pay as a normal part of business
operations, which includes sole proprietorship, partnership, limited liability partnership, a private
company, a public limited company or a corporation.

Learning Objective:

The course aims to inculcate the spirit of understanding the rationale for the scheme of
1 the law which includes Income tax Act of1961, Goods and Services Act of 2017
applicable to the legal entities doing business in India and abroad.

Learning Outcomes (LO’s):

1 Understand different heads of income.

2 Understand deductions available therein under different heads of income.
3 Understand principles governing the Tax Laws & procedures applicable to each of them.
4 Apply the above to a tax problem.
Imagine the big picture behind the levy Direct Tax and Goods and Services Tax, to
5
appreciate the rationale for the collection of applicable levies.

Mapping of Learning Outcomes (LO) to the AOL goals:

Role of Self
AOL
Critical Communi in the
Goal Leadershi Innovatio
Analytical cation Global Perspective Organizatio
/ p n
Thinking Skills n & in
CO
Society
CO 3 2 2
1
CO 3 2 2
2
CO 3 2 2
3
CO 2 3 2 2 2
4
CO 3 2 2
5

Learning
Session Topics to be Outcome Pedagogy
No Covered Mapped
1
Introduction to LO1 Jamboard, Question Pics
fundamentals of
Income Tax: Explanation of theory part
Inclusion, its 1. What do you mean by taxation
applicability, 2. Importance of taxation in our life
overview of different 3. Major principles of taxation
heads of income, Interaction with students for
applicable sections, 1. Gaging their interest

2
 applicable
2. Giving them reference material
deductions,
3. Help them understand the subject
exemptions etc.

Tax Planning Jamboard & PPT

Concepts and
2 principles: Meaning, LO1 Help the students understand the subject and
Rationale, concepts also have a thorough discussion about the
and principles. same.

Income under the

head “Business or
Profession”.
(Section 28):
Meaning, its Jamboard , Printed questions
applicability, items
Having interactive session with the students
of expenditure
about what do they understand by the terms
3&4 which are to be LO2,3,4
like Business, Profession & Vocation.
allowed as Explanation of each of the deduction with the
deductions while help of sums.
computing business Discuss the need for such deductions.
income, Business
profits – : Sections
30, 31, 35, 35D, 36,
37, Etc.

The concept of Jamboard , Printed questions

Depreciation under
Income Tax Act: its
5 LO2,3,4
applicability,
methods, applicable
rates etc.
Interactive session on what is depreciation
and how it is different from what they have
learnt in The Companies Act,2013.
Accounting treatment and tax treatment of
the same (sums)

3
 The disallowances
under Income Tax
Act -Sections 40,
With the help of sums explaining the
6 40A(2),40A(3), LO2,3,4
deductions.
Practical Examples
including Case
Laws.

Fundamentals of
Goods &Services
Tax (GST), Overview of GST Act and providing study
7&8 LO5
Principles, material for the same.
Procedures,
structure etc.

Reference Texts/Books/Websites/etc:

Bare Text of Direct Tax Laws- Taxmann Publications- applicable for the year
1

2 Government Notifications, Rules, Circulars, Clarifications- applicable for the year.

Students guide to Income Tax including GST – Dr. Singhania Vinod – applicable for the
3
year- Taxmann.
4 Goods and Services Tax (GST) Sisodia Pushpendra – 3rd edition – Bharat Law House.

Evaluation:

Evaluation Schedule
Evaluation Methodology % of marks assigned The Course
Outcome that it
will measure *
1. Surprise quizzes
2. Case evaluation
3. Group presentations
4. Mid Term Evaluation
5. Project
6. Any other evaluation method :
Please specify

7. End Term Exam 100% LO 1,2,3,4 &5

4
Project/Assignment Details, if any: Nil
LO(s) Mapped to -
Project/Assignment
Objective/s of the -
Project/Assignment
Assignment/Project --
Methodology

Outcome of the -
Project/Assignment

TLP submitted by Approved by

Teaching Faculty Program Head Dean – Specialization
Name Prof. Seema Korgaonkar. Prof. Dr. B N Chatterjee Prof.Vanita Patel.
Signature
Date