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Session 2017-18
COURSE GUIDE

Course Title: Infrastructure Corporate Taxation

Course Code: IM 710
Semester: 4th
Programme: MBA in Infrastructure Management
Course Coordinator: Alok Shiromany (Visiting Faculty)
Brijesh Das (Visiting Faculty)
Vinay Mehra (Visiting Faculty)

School of Infrastructure
PREFACE

This course guide is intended to provide you with a concise information in respect of Infrastructure Corporate
Taxation (IM 710) in terms of credit points, notional hours, course objectives, learning outcomes,
syllabus, course delivery and weekly session plan. Apart from this it also guide you on assessment schemes,
marking threshold, attendance and plagiarism policy. You are also provided with list of text and reference
books. It is recommended that the students to go through these books in order to have full understanding
of the course.

Course Instructors:
Alok Shiromany
alokshiromany@gmail.com
Brijesh Das
dasbi@rediffmail.com
Vinay Mehra
mehravinay@hotmail.com
Rekee Prashar
rprashar@ricssbe.edu.in
About the Instructors
Mr. Alok Shiromany is a Chartered Accountant, The Institute of Chartered Accountants of India, New
Delhi and also LLB from Delhi University. He is a certified Internal Auditor (CIA), The Institute of Internal
Auditors (IIA), Florida, U.S.A. and has more than 30 years of experience in the field of governance reform,
institutional development, project and urban infrastructure financing, auditing, internal auditing and
financial management in both public and private sector.
His experience as a finance expert especially during his tenure with the Indo-USAID Financial Institutions
Reform and Expansion (FIRE) project, has made him a valuable urban infrastructure finance expert having
a strong background in finance and urban management. He has rendered immaculate service and gained
rich experience in various assignments as Team Leader of the ADB-funded, JnNURM Technical Cell of
the MoUD, GoI managing inter-disciplinary teams in the areas of financing, formulating work plans,
budgeting, disbursement, procurement, accounting, analysis and reporting of the project’s financial
obligations. He has worked with many state governments and urban local bodies, including with multi-
lateral and bilateral funding agencies.
Alok also worked on:
 Smart City Proposal (SCP) for Bilaspur, Govt. of Chhattisgarh (Round-II)
 Smart City Proposal (SCP) for Raipur, Govt. of Chhattisgarh (Fast Track Round) - Ranked 4th in the
Competition
Alok is also a member of several policy level committees set up by Government of India, Institute of
Chartered Accountants of India (ICAI), Comptroller and Auditor General of India (C&AG), State
Governments and urban local bodies (ULBs) for the purpose of policy formation and implementation
thereof.

CA Brijesh Das is a fellow member of The Institute of Chartered Accountants of India (ICAI).He has
additional qualification of Information Systems Auditor (DISA) by ICAI. Prior to this, he graduated in
Economics after Schooling at St Xavier’s School, Delhi.

Brijesh Das is a Chartered Accountant with rich and diversified experience of over 35 years. He is practicing
the profession of Chartered Accountancy. As a Team Leader, for projects of The Institute of Chartered
Accountants Of India, Accounting Research Foundation (ICAI ARF), he made a report on the project of
financial reporting and related statutory compliances along with disclosures of Power Finance Corporation
Ltd. (PFC). He is also training government officials through various capacity building programs.

He worked for seven years from 2007 as General Manager Finance with M/s.Lloyd Electric & Engineering
Ltd., a listed public limited multi-unit/plant/location company with its corporate office located at Delhi,
engaged in manufacturing of air conditioning, refrigeration products of AC and allied items. He was with
SBL (P) Ltd., a pharmaceutical manufacturing company, as Head Finance and Accounts for three years since
2004.

Mr. Das gave lectures in classes of students of ICAI, imparting accounts training, besides attending various
workshops and conferences. He has practiced for seven years as partner with M/s Shiromany Tyagi & Co.,
Chartered Accountants, involved mainly in audit and taxation, including public sector companies.

He has worked with M/s HB Leasing and Finance Co Ltd. for six years, a finance company and category I
Merchant Banker. Earlier to this, Mr. Das was associated with Chartered Accountancy firms M/s. Kumar
Grover & Co and M/s. S K Vohra & Co.

Vinay Saran Mehra is a Graduate in Masters of Business Administration from Fuqua School of Business, Duke
University, U.S.A. His undergraduate degree was Bachelor of Commerce from SRCC, Delhi University. He was also a
merit list holder with 4th rank in the Country in the AISSCE exam of 12th Std. Vinay is also a LL.B, degree holder from
Delhi University.
Vinay has worked as a consultant since 2012 with Shiromany Tyagi and Co, which is a leading audit and consulting firm
in India carrying out professional activities for leading corporates in the field of statutory, internal and management audits,
corporate taxation and have been working in the field of various reforms including accounting reforms mainly in
government sector including various entities and ministries. Vinay has been analyzing and reporting the financial statements
of various entities, both government and private including variance with budget and estimates for each location, cost centre
and business unit. Preparing estimates, forecasts, budgets and business proposals and plans including working capital
management, with emphasis on cash flow management by closely monitoring fund movement and preparation of cash
flow forecasts for companies. He prepared manuals for change in accounting systems for municipal bodies in India and
implemented major changes in their systems for entities mentioned above. He consulted to companies for controlling their
operative costs and efficient use of their capital, and also worked in the smart city proposal, helping in finalizing the financial
plan, outlining the sources of funds required to complete the projects, under the guidelines of the mission.
Vinay has also run his own leading automobile ancillary manufacturing company in joint venture with leading Italian
company Proma. He lead the accounts department, regulated and coordinated the overall process and information flow
within the accounts department and with other related departments and was responsible for marketing the products to
leading o.e.m.s as well as in negotiation of joint venture agreement with Proma, including finalization of all legal aspects.
He prepared and presented monthly MIS, financial performance, working capital and variance analysis reports. He liasoned
with Banks and Financial Institutions for sanction of loans, financing and refinancing of advances. He was involved in
costing of all products and settlement of prices with major buyers and procurement of production schedules from them and
monitoring of adherence to schedules on time.

Ms. Rekee Prashar is a Research and Teaching Associate at the School of Infrastructure, RICS SBE. She is
a lawyer, graduated in BSLLLB from ILS Law College Pune; and further specialized for obtaining a
Master’s in Law from Department of Law, Pune University. She has interned in both Civil and Criminal
matters in courts during her internships. Her research interest area includes Corporate laws, Civil laws,
Alternative dispute resolution matters, Land laws, Land acquisition matters and Public Polices making.
 1. Course Details

Course Title Infrastructure Corporate Taxation

Programme MBA Infrastructure Management
Course Code IM 710
Semester 4
Pre-requisite NA

L T P/S SW/FW Total credit units

Credit Units 4
3 1 0 0 4

2. Course Objectives

The course aims to develop the students understanding of major issues that companies (and other business
structures) face through the life cycle and the manner in which financing is subject to taxation. The students
will be exposed to important provisions relating to corporate taxes, planning, and tax management for
different domestic and foreign companies. The subject also discusses legal theories and concepts of
company laws in relation to any business and organization.

3. Student Learning Outcomes

Upon completion of the course, student will be able to:
 Understand the major taxation issues that business organizations face while financing and managing
infrastructure projects
 Compute the total income and tax liability of business organizations
 Understand various approaches adopted for successful corporate system
 Assess the different types of tax – income, services, minimum alternate tax, dividend, capital gain,
share buy backs, share interests, mergers and demergers
 Understand the taxation system while dealing with international transactions

4. Syllabus
The proposed course content is broadly structured into six modules. It is intended that the students gain core
understanding related to procurement methods, principles, processes and evaluation criteria.

Modules Weightage (%)

20%
Module I Forms of tax
Tax management principles; Tax planning w.r.t setting up of a new
business; Tax planning w.r.t nature and location of business; Forms of
business organizations

20%
Module II Special taxes and duties for Infrastructure sector
Company law and other statutory provisions; Various taxes- income,
capital gains, service, minimum alternate Tax, GST, VAT and excise
duty; Free trade and economic zones, backward areas, exports etc.
 20%
Module III Total Income and Tax liability
Income from business, other sources, capital gains; Income from group
companies-consolidation and relief; Deductions, set-offs, carry forward
of losses

Module IV Financial Decisions 20%

Capital structure decision, Dividend policy, inter-corporate transactions,
equity issuance; Own or lease, sale of assets; Innovate structures &
Financial Engineering

Module V Procedures & Processes 10%

Tax deduction; Collecting and advancing payments; Corporate policies
and procedures
Module VI Introduction to International taxation 10%
Import & export of services/goods; Tax impacts on SPVs and other
institutional structures, financial investors
 4. Pedagogy for Course Delivery

Teaching and learning methods

A managed combination of the following methods will be used:

1. Lectures
2. Case studies
3. Independent learning

Lectures
Lectures present the key conceptual material. Lectures are supported by readings. In order to prepare for
lectures, the student must read the readings set for the class, and should prepare short notes on them. The
lecturers will bring the important issues to your attention, and add other information that may not be gleaned
from the weekly readings. During the course, additional examples may be presented that are relevant to the
completion of the workshops.

Lecture slides and/or notes will be uploaded/emailed. These are not substitutes for the lecture. Many students
find it beneficial to take print-outs of the lecture slides and/or notes to the lecture and to annotate them with
comments, examples, etc. These will generally be available before the lecture.

Tutorials:
Tutorial will be related to the concepts discussed in the classes already held/ student research and findings.
Students are expected to participate and practice in the tutorial sessions based on the inputs received during
the lecture, independent study and market survey. Specific assignments shall be announced in advance.

4.
Weekly Session Plan
Sl.NO Module Name Plan Type Topic
1 Forms of tax Lecture Introduction to Tax
Management
2 Forms of tax Lecture Tax Management
Principles
3 Forms of tax Lecture Business Organisation
Structures
4 Forms of tax Tutorial New Business Tax
5 Forms of tax Lecture New Business
Characteristics
6 Forms of tax Lecture Forms of Business - Infra
sector
7 Forms of tax Lecture Geographical differences in taxation
8 Forms of tax Tutorial Tax profiling of states
9 Forms of tax Lecture Sub sector differences
10 Forms of tax Lecture Differences - new and
existing entities
11 Forms of tax Lecture Forms of tax roundup
12 Forms of tax Tutorial Class Practice in tax
 Forms
13 Special taxes and duties for Lecture Special Taxes for Infra
Infrastructure sector
14 Special taxes and duties for Lecture History of sector taxation
Infrastructure sector
15 Special taxes and duties for Lecture Company law provisions
Infrastructure sector
16 Special taxes and duties for Tutorial Computation of taxes for
Infrastructure sector sector 1
17 Special taxes and duties for Lecture Company law provisions
Infrastructure sector
18 Special taxes and duties for Lecture Income tax provisions
Infrastructure sector
19 Special taxes and duties for Lecture Capital Gains Taxation
Infrastructure sector
20 Special taxes and duties for Tutorial Computation of Taxes
Infrastructure sector Exercise 2
21 Special taxes and duties for Lecture GST and impact
Infrastructure sector
22 Special taxes and duties for Lecture VAT and Excise Duties
Infrastructure sector
23 Special taxes and duties for Lecture Free trade and economic
Infrastructure sector Zones
24 Special taxes and duties for Tutorial Project Taxation Practice
Infrastructure sector
25 Total Income and Tax liability Lecture Concept of total income
26 Total Income and Tax liability Lecture Computation of income &
Peculiarities
27 Total Income and Tax liability Lecture Income from business
and other gains
28 Total Income and Tax liability Tutorial Project Income Practice
Work
29 Total Income and Tax liability Lecture Project Income
Computation
30 Total Income and Tax liability Lecture Capital Gains concept
31 Total Income and Tax liability Lecture Capital Gains Practice
32 Total Income and Tax liability Tutorial Capital Gains Practice
33 Total Income and Tax liability Lecture Group Company Taxation
34 Total Income and Tax liability Lecture Deductions, set offs,
Consolidation
35 Total Income and Tax liability Lecture Carry forward losses
36 Total Income and Tax liability Tutorial Group company taxation
Exercise
37 Financial Decisions Lecture Taxation and Financial
 Decisions
38 Financial Decisions Lecture Capital Structure
Decisions
39 Financial Decisions Lecture Theories and practices in
capital structuring
40 Financial Decisions Tutorial Exercise on Capital
Structure
41 Financial Decisions Lecture Dividend Policy
42 Financial Decisions Lecture Dividend Policy
43 Financial Decisions Lecture Inter Corporate
Transactions
44 Financial Decisions Tutorial Dividend policy practice
45 Financial Decisions Lecture Equity issuance and tax
Impacts
46 Financial Decisions Lecture Buy vs lease decisions
47 Financial Decisions Lecture Sale of assets and
Taxation
48 Financial Decisions Tutorial Practice exercise on
procedures - firm
49 Procedures & Processes Lecture Innovative Structures and
Financial Engineering
50 Procedures & Processes Lecture Tax deduction procedure
51 Procedures & Processes Lecture Tax deduction procedure
52 Procedures & Processes Tutorial Group of firms - tax
Procedures
53 Procedures & Processes Lecture Tax collection systems
54 Procedures & Processes Lecture Corporate rules and
Regulations
55 Introduction to Lecture Primer to international
International taxation Taxation
56 Introduction to Tutorial Exercise on international
International taxation corporate taxation
57 Introduction to Lecture Import and export of
International taxation services and goods
58 Introduction to Lecture SPVs - taxation principles
International taxation
59 Introduction to Lecture International financial
International taxation Investors
60 Introduction to Tutorial International investor
International taxation taxation exercise

5. References
Text & References:

2014-15, Sahitya Bhawan Publications

 procedures with case studies, 16th Ed., Paperback

Bharat Law publications

Any other Study Material:

– Mint, Business Standard, The Economic Times, Financial Express

6. Assessment Scheme
This module is assessed by Continuous Assessments and Final Examination

Assessment/ Theory L/T Lab/Practical/Studio

Examination 100% 0%
Scheme:
Continuous Assessment/Internal Assessment
Theory Project/Home Class Test Attendance
Assessment End Term Examination
Assignments
(L&T) 15% 10% 5% 70%
Continuous Assessment/Internal Assessment
Lab/ Practical/ Test/Assignment Project/ Attendance End Term Examination
Studio Presentation
Assessment 0% 0% 0% 0%

Assessment Framework
Following is the assessment framework divided in–between internal and external assessments. Internal
assessment has 30% weightage, divided as per table below. External assessment is as per the end term
examination carrying 70% weightage.

Theory Assessment (L&T):

End Term
Continuous Assessment/Internal Assessment
Examination
Project /
Components Quiz/Class Presentatio Attendanc
Home Total
(Drop down) Test n e
Assignment
Weightage
10% 10% 5% 5% 30% 70%
(%)

P – Presentations
Q – Quizzes
P/HA – Project/Home Assignment
A – Attendance
IA – Internal Assessment
EE – End-semester Evaluation

Dates for internal and external assessments will be advised during the semester and communicated via
AMIZONE. Failure to adhere to specified dates will result in zero mark for the particular assessment.
The course will have one major assignment. Specific details of each of these (such as format of the
assignment—date and duration) will be finalized in class after a discussion with the students. Student’s
presentations is another form of marked internal assessment to evaluate active participation. Quizzes/ Test
have been allocated in the weekly plan and shall be counted for internal assessments.
 Internal assessment:
1. Attendance policy

100% attendance is expected in each course however even with 75% attendance students are permitted to
appear in the End-semester examination.
Record of the student’s attendance will be taken at the beginning of each class. All absences/ late entries to
class will be considered unexcused absences, and no changes will be allowed. Please refer to the student
Handbook for further information.

Percentage of Attendance (%) Marks

More than 95 5
More than 90 and up to 95 4
More than 85 and up to 90 3
More than 80 and up to 85 2
More than 75 and up to 80 1
Up to 75 0

2. Subjective assessment:
Subjective assessment is further divided into 2 assessment components as mentioned below:
a. Presentation/ group presentation (10 marks):

There is going to be two presentations 5 marks each and the division of marks is mentioned below:
 Topic coverage and depth of knowledge (2 marks)
 Quality of slides (1 mark)
 Oral presentation skills(1 mark)
 References and source citation (1 mark)
 Timely submission (if the submission is made after the due date minus 1 mark)
 Plagiarism found greater than 15% will be reported to Disciplinary Committee for strict action
and the mark given will be zero directly.
b. Home Assignment (5 marks):

The home assignment will carry 5 marks and the division of marks is mentioned below:
 Check on comprehension skill for content /topic coverage and depth of knowledge. (3 marks)
 Analysis & Application of Models Identification of Issues. (1 mark)
 Academic references from books or journals, greater than 5 or 5 (1 mark).
 academic references from books or journals, lesser than 5- 2 (0.75 mark)
 academic references from books or journals, lesser than 2 (0.5 mark)
 Timely submission (if the submission is made after the due date minus 1 mark)
 Cheating/similar answer in between students/ older students/ other students/ anywhere
 else- negative marking (minus 2 marks)
 Plagiarism found greater than 15% will be reported to Disciplinary Committee for strict action
and the mark given will be zero directly.
3. Objective assessment (10 marks):

Two quizzes (each will be calculated out of 5 marks finally) will be conducted as provided in session plan or
as announced in class.
 Check on comprehension skill for content /topic coverage and depth of knowledge.
 Support with examples/data/figures/charts etc. to substantiate the argument.
 Correlation of answers in different aspects/parts of question or case or example.
 Cheating/similar answer in between students- negative marking

 External Assessment:
End term test is external assessment. Question paper will be divided in three broad categories:
i. Section A: (5 to be answered out of 6)- 30 marks
Short answers- concept testing questions
ii. Section B: (2 to be answered out of 3)- 20 marks
Application related long answers will be part of this section
iii. Section C: (Compulsory)- 20 marks
Case study

7. Plagiarism

Quoted from “Plagiarism: What It Is and How to Avoid It”, Peter Cobbett, PhD, August 2016

“Plagiarism is copying another person’s text or ideas and passing the copied material as your own work.
…You must both delineate (i.e., separate and identify) the copied text from your text and give credit to
(i.e., cite the source) the source of the copied text to avoid accusations of plagiarism. Plagiarism is considered
fraud and has potentially harsh consequences including loss of job, loss of reputation, and the assignation of
reduced or failing grade in a course.
This definition of plagiarism applies for copied text and ideas:
(i) regardless of the source of the copied text or idea;
(ii) regardless of whether the author(s) of the text or idea which you have copied actually copied that text
or idea from another source;
(iii) regardless of whether or not the authorship of the text or idea which you copy is known;
(iv) regardless of the nature of your text (journal paper/article, webpage, book chapter, paper submitted
for college course, etc) into which you copy the text or idea;
(v) regardless of whether or not the author of the source of the copied material gives permission for the
material to be copied; and
(vi) Regardless of whether you are or are not the author of the source of the copied text or idea (self-
plagiarism).
This definition also applies for figures and figure legends and for tables and table legends which you copy
into your text.”

The students must not indulge in any form of dishonesty, whether by act of omission, including but not
limited to cheating, plagiarism, knowingly furnishing false information to RICS SBE Amity University
 Noida, and forgery or alteration

It is mandatory that each course work shall be checked for plagiarism through Turnitin or similar software
before submission. The content which is based on existing published work must come from properly quoted
material and from the references cited section. After checking the accuracy of the citations and references of
such content the plagiarism report should not return similarity index of more than 15% in any circumstance.
However, if the matching text is one continuous block, the index of 15% could shall be considered
plagiarism. Any report with higher than this percentage matching must be explained by the student. The
details of copy rights, professional ethics are given in Plagiarism Prevention Policy of the University.

8. Academic Policies
* Refer Amity University Guidelines for the academic policies and procedures

NOTES
This course description provides the general framework for the course. However, the instructor reserves the
right to make any modifications or changes to the course (in consultation with the students), depending on
the class progress, or on any special circumstance that may arise during the semester. A class sign–up sheet
will be passed each lecture, and will become the record of the student's attendance during the semester. All
absences will be considered unexcused absences, unless they are cleared with the instructor with a
memorandum, stating the date and reason for the absence.