Tax planning and personal finance ( MCOP 412-18)

SUBJECT – Tax planning and personal finance

PURPOSE: To enable the students to understand the importance of tax management and various methods available for tax planning.

COURSE OBJECTIVE:

To enable the students to understand the importance of tax management and various methods available for tax planning. This course also aims to acquaint students with the importance and methods for personal financial planning.

Course Outcomes:
1 – The students will be familiarised with the concepts of tax management, tax
avoidance and tax evasion.
2 – To familiarise the students with the methods of ways of tax planning.
3 – To acquaint students with the provision of the current finance act with regard to
various head of income.
4 – To enable students to compute the tax liability of individuals after considering
their residential status, various exempted incomes, permissible deduction, clubbing of
income and setting off of losses.
5 – To familiarise students with the concept, objectives and importance of personal
financial planning
6 – To enable students to understand the implications of environmental factors and
time value of money on the personal financial statements.
7 – To enable students to identify various types of risks any individual is exposed to
and how they can hedge diversifiable risk.
8 – To familiarise students with various instruments available for investment by an
individual for achieving their personal financial goals