Diploma in Financial Planing

7/31/2019 Diploma in Financial Planing

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Goals for Different Financial Needs

Life Situation and Personal Values

Factors Affecting Goals

Lesson Summary

Assessment

Lessons 3: Financial Planning Questionnaire

Lesson Objective

Introduction

Filling the Questionnaire

Types of Questionnaire

Seeking Further Information

Lesson Summary

Unit 4: Analysing Client Data

Lessons 1: Analysis of Relevant Information

Lesson Objective

Introduction

Personal Information

Goals and Objectives

Retirement Planning

Future Planning and Discussion Priorities

Risk Tolerance Questions

Investment Goals and Financial Concerns

Estate PlanningPortfolio Constraints

Associated Professionals

Fee Declaration and Enclosures

Lesson Summary

Assessment

Lessons 2: Other Important Issues

Lesson Objective

Need for Specialist Advice

Issues that Require Further ClarificationLesson Summary

Assessment

Lessons 3: Developing and Presenting the Financial Plan

Lesson Objective

Introduction


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Comprehensive Financial Plan Format

Presenting the plan

Revision of the Plan

Lesson Summary

Assessment

Unit 5: Mastery Test ( Unit 1-4 )

Mastery Test

Unit 6: Assessment of Risk and Client Behaviour

Lessons 1: Client's Attitude, Knowledge and Behaviour

Lesson Objective

Attitude

Questionnaire to Assess Client's AttitudeKnowledge

Questionnaire to Assess Client's Knowledge

Behaviour

Life Events

Health Status of Client

Client's Occupation and Hobbies

Risk Tolerance

Risk Tolerance Questionnaire

Lesson Summary

Assessment

Unit 7: Implementing and Monitoring the Financial Plan

Lessons 1: Implementation

Lesson Objective

Assistance to Client

Implementation of Planning Decisions

Action Plan

Record Keeping and Confidentiality

Lesson Summary

Assessment

Lessons 2: Monitoring the Financial Plan

Lesson Objective

Introduction

Reasons for Review

The Review Process


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Updating Strategies

Financial Planner's Responsibility

Miscellaneous

Lesson Summary

Assessment

Unit 8: Regulatory Framework

Lessons 1: Requirements for CFP Certification

Lesson Objective

Introduction to FPSB-India

FPSB India's Mission

Frequently Asked Questions

Lesson Summary

Assessment

Unit 9: Code of Ethics and Rules of Professional Conduct

Lessons 1: Code of Ethics

Lesson Objective

Introduction

Principles

Rules

Financial Planning Practice Standards

Standards

Lesson SummaryAssessment


Mastery Test

Unit 11: Cash Flow and Budgeting

Lessons 1: Cash Flow

Lesson ObjectiveIntroduction

Cash Flow Preparation

Lesson Summary

Assessment

Lessons 2: Budgeting


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Lesson Objective

Budget Preparation

The Budgeting Process

Budget Proforma

Relationship of Budget and Financial Planning

Characteristics of Successful BudgetingLesson Summary

Assessment

Unit 12: Personal Use Asset Management

Lessons 1: Leveraging Personal Assets

Lesson Objective

Introduction

Home Equity

MortgageOverdraft

Credit Cards

Refinancing

Leasing

Hire Purchase

Consumer Loan

Lesson Summary

Assessment

Unit 13: Personal Financial Statements Analysis

Lessons 1: Financial Statement Analysis

Lesson Objective

Introduction

Personal Financial Statement Ratios

Lesson Summary

Assessment


Mastery Test

Unit 15: Financial Mathematics

Lessons 1: Time Value of Money

Lesson Objective

Introduction


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Techniques of Compounding

Techniques of Discounting

Lesson Summary

Assessment

Unit 16: Mastery Test ( Unit 15 )

Mastery Test

Unit 17: Economic Environment and Indicators

Lessons 1: Economic Environment

Lesson Objective

Introduction

Inflation and Deflation

Interest Rates and Yield CurveGovernment Monetary and Fiscal Policy

Business Cycle

Economic Indicators

Financial Institutions

Lesson Summary

Assessment

Unit 18: Forms of Business Ownerships/Entity Relationships

Lessons 1: Different types of Business Forms

Lesson Objective

Sole Proprietorship

Partnerships

Limited Liability Companies

Co-operatives

Trust

Foundations

Professional Association

Lesson Summary

Assessment

Unit 19: Ways of Obtaining Title to Property

Lessons 1: Title by Different Forms of Transfer

Lesson Objective

Introduction

Sale


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Mortgage

Lease

Exchange

Gift

Transfer of Actionable Claim


Unit 20: Legal Aspects of Financial Planning

Lessons 1: Legal Aspects

Lesson Objective

Introduction

Tort

Fiduciary Responsibility

Negotiable InstrumentsProfessional Liability

Agency Law

Consumer Protection

Investor Protection

Annexure

Lesson Summary

Assessment


Mastery Test

Unit 22: Module 1 Main Mastery

Mastery Test

Module 2 : Risk Management and Insurance Planning

Unit 1: Basic Concepts in Risk Management and Insurance

Lessons 1: Insurance

Lesson Objective

Introduction

History of Insurance

Purpose of Insurance

Types of Insurance

Planning Life Insurance

Property and Business Insurance


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Insurance Adaptability

Global Insurance Industry

Lesson Summary

Assessment

Lessons 2: Introduction to Risk Management

Lesson Objective

Meaning of Risk

Categories of Risk

Types of Risk

Lesson Summary

Assessment

Lessons 3: Risk Management Process


Risk Management Objectives

Risk Management Flow Chart

Insurance as a Risk Management Tool

Role of Planner in Risk Management

Implementation of Risk Management Program

Insurance Market Dynamics and Underwriting Cycle

Insurance Benefits

Uses of Insurance

Advantages and Disadvantages of Insurance

Gambling V/s InsuranceLesson Summary

Assessment

Lessons 4: Mastery Test

Mastery Test

Unit 2: Insurance Concepts

Lessons 1: Legal Principles of Insurance

Lesson Objective

Basic Legal Principles

Insurable Interest

Indemnity

Umberrima Fides

Subrogation

Contribution


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Lesson Summary

Assessment

Lessons 2: Insurance Contract

Lesson ObjectivePrinciples of Contract affecting Insurance

Sources of Contract Law

Meaning of Insured

Endorsements/Riders

Deductibles

Coinsurance

Other Insurance Provisions

Lesson Summary

Assessment

Lessons 3: Legal Liability

Lesson Objective

Tort

Types of Torts

Negligence

Indian Judicial System

Lesson Summary

Assessment


Mastery Test

Unit 3: Insurance Policies and Strategies

Lessons 1: Personal Property and Liability Insurance

Lesson Objective

Household Insurance

Motor Vehicles Insurance

Other Liability Insurance

Personal Umbrella Policies

Overseas and Travel InsuranceLesson Summary

Assessment

Lessons 2: Life Insurance Need Analysis

Lesson Objective

Introduction


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Rule of Thumb

Human Life Approach

Needs Approach

Other Methods

Advantages and Disadvantages


Lessons 3: Life Insurance Policy Analysis

Lesson Objective

Introduction

Types of Life Insurance

Life Insurance Policy Provisions

Riders

Benefits of Life Insurance

Income Tax BenefitsSample Insurance Policies

Lesson Summary

Assessment

Lessons 4: Life Insurance Policy Selection

Lesson Objective

Introduction

Determining Life Insurance Cost

Cost Comparison Method

Insurance as InvestmentReplacement and Holding Considerations

Evaluating and Comparing Insurance Companies

Key Factors for Choosing Life Insurance

Completing Life Insurance Proposal

Lesson Summary

Assessment

Lessons 5: Annuity

Lesson Objective

IntroductionAnnuity Contract V/s Life Insurance Contract

Types of Annuities

Taxation of Annuities

Importance of Annuities

Individual Retirement Accounts

Lesson Summary


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Assessment

Lessons 6: Health Insurance

Lesson Objective

IntroductionIndemnity V/s Managed Care

Group Health Insurance

Individual Insurance

Long-term Care Insurance

Personal Accident/Disability-income Insurance

Critical Illness

Limitations, Exclusions and Riders

Third Party Administrators

Lesson Summary

Assessment

Lessons 7: Insurance of Business Risk

Lesson Objective

Key Person Insurance

Business Assets and Liability Insurance

Lesson Summary

Assessment


Mastery Test

Unit 4: Environment of an Insurance Advisor

Lessons 1: Government Regulation of Insurance

Lesson Objective

Introduction

Insurance Regulatory and Development Authority

Insurance Act 1938

Regulatory Supervision of Insurance Companies

Status of Insurance Companies in IndiaAgency Law

Waiver and Estoppel

IRDA Regulation on Insurance Agents

Insurance Broker

Insurance in India

Insurance Distribution Channels

Insurance Ancillary Services


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General Insurance Market Conditions

Lesson Summary

Assessment

Lessons 2: Insurance Pricing

Lesson Objective

Rate Making

Rate Making Basic Definitions

Life Insurance Rate Making

Property and Liability Insurance Rate Making

Tariff and Market Agreement

Lesson Summary

Assessment

Lessons 3: Insurance Companies Miscellaneous

Lesson Objective

Types of Insurance Companies

Rate Making

Underwriting

Production

Claim Settlement

Reinsurance

Financial Reserves

Insurance Company Selection

Lesson Summary

Assessment


Mastery Test


Mastery Test

Module 3 : Retirement Planning and Employee BenefitsUnit 1: Introduction to Retirement Planning

Lessons 1: Issues in Retirement Planning

Lesson Objective

Introduction

Retirement Planning


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Starting the Retirement Plan

Issues related to Retirement Planning Process

Relationship between Retirement Plan and Other Financial Goals

Basic Concept of Retirement Planning

Retirement Planning Issues


Lessons 2: Wealth Creation

Lesson Objective

Introduction

Individual's Life Cycle

Risk Tolerance

Income and Wealth

Wealth Erosion



Mastery Test

Unit 2: Retirement Benefits

Lessons 1: Types of Plans

Lesson Objective

IntroductionDefined Benefit Plans (DB)

Defined Contribution Plans (DC)

Hybrid Plans (DB + DC)

Employer and Employee's Perspective of DB and DC Plans

Difference between DB and DC Plans

Administrative Expenses

Trends and Reasons for Transition from DB to DC Plans

Lesson Summary

Assessment

Lessons 2: Defined Benefit Plan

Lesson Objective

Introduction

Features of Defined Benefit Plan

Advantages and Disadvantages

Defined Benefit Plans in India

Leave Salary


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Retrenchment Compensation

Voluntary Retirement Scheme

Reading

Annexure

Lesson Summary

Assessment

Lessons 3: Defined Contribution Plan

Lesson Objective

Introduction

Classification of Defined Contribution Plan

Specified Plan 1 - Employees Deposit Linked Insurance Plan (EDLI)

Specified Plan 2 - Provident Fund

Specified Plan 3 - Employees Pension Scheme 1995

Specified Plan 4 - Employees State Insurance Scheme

ReadingsLesson Summary

Assessment

Lessons 4: Superannuation and Other Retirement Plans

Lesson Objective

Introduction

Superannuation Benefit

Investment of Fund Money

Tax Benefits on Approved Superannuation Funds

Pension Plans from Insurance Companies and Mutual FundsSocial Security in Unorganised Sector

Social Insurance Schemes

National Policy for Older Persons

Welfare Funds

Public Initiatives

Lesson Summary

Assessment

Lessons 5: Group Life and Health Insurance


Group Insurance

Group Insurance Underwriting

Group Insurance Policy Provisions

Group Insurance Premiums

Group Policy Administration

Group Term Life Insurance


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Accidental Death and Dismemberment

Group Permanent Plans

Types of Group Insurance Plans

Managed Care Plan

Reading



Mastery Test

Unit 3: Retirement Planning and Strategies

Lessons 1: Retirement Need Analysis


Retirement Objectives

Impact of Life Expectancy

Retirement Expenses Estimation

Concept of Risk

Annexure

Lesson Summary

Assessment

Lessons 2: Retirement Income Streams

Lesson Objective

Introduction

Retirement Income Sources

Retirement Plans and Pension Streams

Commutation of Pension Under Employees Pension Scheme

Annuity

Time Value of Money

Savings and Investments

Earnings from Job During Retirement

Liquidated Assets


Lessons 3: Retirement Planning Strategies Post Retirement Counseling

Lesson Objective

Introduction

Investment Risk


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Time Horizon

Risk Tolerance

Right Asset Allocation for Retirement Plan

Lesson Summary

Assessment


Mastery Test

Unit 4: Pension Sector Reforms

Lessons 1: Need for Reforms

Lesson Objective

Introduction

India: The Challenge of Old Age Income SecurityIndia Needs Pension Reforms

Reading

Lesson Summary

Assessment

Lessons 2: Reform Proposal

Lesson Objective

Project OASIS

World Bank Recommendation

Multi Pillar ReformChilean Model

Role of the States

Lesson Summary

Assessment

Unit 5: Annexure

Annexure 1: Case Studies on Retirement Planning

Annexure 2: Recap of Some Retirement Concepts

Annexure 3: Retirement Information

Annexure 4: Additional ReadingsAnnexure 5: Retirement Planning Tips


Mastery Test


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Module 4 : Investment Planning

Unit 1: Investment Planning Environment

Lessons 1: Investment Planning Overview

Lesson ObjectiveInvestment

Characteristics of Investment

Investment vs. Speculation

Investment vs. Gambling

Investment - a part of Financial Planning

Lesson Summary

Assessment

Lessons 2: Securities and Investment


Meaning of Financial Securities

Forms of Securities

Financial Market

Types of Investors

Investment Process

Lesson Summary

Assessment

Lessons 3: Security Market

Lesson Objective

Introduction

Financial System and Institutions

Financial Markets

Market Participants

Equity Market

Debt Market

Lesson Summary

Assessment


Mastery Test

Unit 2: Investment Vehicles

Lessons 1: Small Saving Schemes


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Lesson Objective

Introduction

Post Office Savings Accounts

Post Office Time Deposit Accounts

Post Office Recurring Deposit Accounts

Kisan Vikas PatraNational Savings Certificate (VIII Issue)

Post Office Monthly Income Accounts

Public Provident Fund Scheme

Deposit Scheme for Retiring Employees

Government of India Savings Bonds

Senior Citizens Saving Scheme(SCSS)

Comparison of Schemes

Lesson Summary

Assessment

Lessons 2: Fixed Income Market/Debt Market

Lesson Objective

Introduction

Debt Market in India

Debt Market Structure

Fixed Income Securities

Regulators

Classification of Fixed Income Instruments

Retail and Wholesale Debt Market

Advantages of Fixed Income Investment

Long-term Debt InstrumentsGovernment Securities

Corporate Debenture

Fixed Income Products

Money Market

Bonds Valuation

Bond Investment Strategies

Lesson Summary

Assessment

Lessons 3: Equity

Lesson Objective

Introduction

Stock Market

Indices

Stock Market Segments

Types of Shares

Investment in Equities


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Secondary Market

Stock Valuation

Models for Valuation of Shares

Dividend Valuation Model

Stock Valuation Equations


Lessons 4: Mutual Funds

Lesson Objective

Introduction

History of Mutual Funds in India

Mutual Fund Setup

Classification of Mutual Funds

Mutual Fund Options

Net Asset ValueRegulations Governing Mutual Funds

Funds Comparison Parameters

Offer Document

Mutual Fund Benefits

Lesson Summary

Assessment

Lessons 5: Derivatives

Lesson Objective

IntroductionFutures Contract

Selling Short

Margin

Option

Types of Options

Premium

Factors influencing Options Premium

Valuing Options

Basic Terminology

Lesson Summary

Assessment

Lessons 6: Insurance as Investment

Lesson Objective

Introduction

Insurance as an Investment Vehicle

Advantages of Life Insurance


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Types of Insurance Policies

Existing Insurance Policies

Lesson Summary

Assessment

Lessons 7: Real Estate

Lesson Objective

Introduction

Basic Definitions

Characteristics of Real Estate Markets

Factors Affecting Real Estate Demand

Real Estate Cycle

Buying and Selling of Real Estate

Real Estate Valuation

Investment Analysis

Capital Gains TaxAdvantages and Disadvantages of Real Estate

Risk Diversification

Real Estate Fund

Modes of Real Estate Investment

Lesson Summary

Assessment

Lessons 8: Tangible Investments

Lesson Objective

IntroductionInvesting in Tangibles

Gold and Other Precious Metals

Gemstones

Collectibles

Lesson Summary

Assessment


Mastery Test

Unit 3: Risk and Return

Lessons 1: Risk

Lesson Objective

Introduction

Types of Investment Risks


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Lesson Summary

Assessment

Lessons 2: Measurement of Risk

Lesson ObjectiveBasics of Risk Measurement

Volatility

Standard Deviation

Risk Calculation

Beta

Lesson Summary

Assessment

Lessons 3: Return


Meaning of Return

Risk

Capital Asset Pricing Model

Risk Decomposition

Security Market Line

Illustrative Problems

Lesson Summary

Assessment


Mastery Test

Unit 4: Investment Portfolio

Lessons 1: Portfolio

Lesson Objective

Introduction

Types of Portfolios

Significance of PortfoliosPortfolio Risk and Return

Portfolio Expected Return

Portfolio Variance and Standard Deviation

Diversification

Commonsense Diversification

Lesson Summary


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Assessment

Lessons 2: Evaluation of Portfolio Performance

Lesson Objective

IntroductionRisk Adjusted Measures

Lesson Summary

Assessment


Mastery Test

Unit 5: Investment Strategies and Asset Allocation

Lessons 1: Introduction to Investment Strategy

Lesson Objective

Basic Features

Investment Strategy

Active vs. Passive Strategies

Lesson Summary

Assessment

Lessons 2: Asset Allocation


Diversification

Asset Allocation Strategies

Fixed and Flexible Allocation

Portfolio Monitoring

Rebalancing Portfolio

Lesson Summary

Assessment

Lessons 3: Case Studies

Lesson Objective

Common Queries on Asset Allocation

Portfolio Rebalancing

Lesson Summary



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Mastery Test


Mastery Test

Module 5 : Tax and Estate Planning

Unit 1: Personal Taxation Concepts

Lessons 1: Basic Concepts

Lesson Objective

Definitions

Lesson Summary

Assessment

Lessons 2: Residential Status of Individuals

Lesson Objective

Residential Status and Tax Incidence

Determination of Residential Status

Basis of Charge

Illustrative Problems

Lesson Summary

Assessment

Lessons 3: Incomes Exempt from Tax

Lesson Objective

Introduction

Incomes Exempt Under Section 10

Special Provisions in Free Trade Zone [Sec 10A]

Tax Holiday in Special Economic Zone [New Sec 10AA]

Special Provisions in Export Oriented Undertakings [Sec 10B]

Special Provisions in Export of Artistic Wooden Articles [Sec 10BA]

Lesson Summary

Assessment


Mastery Test

Unit 2: Heads of Income


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Lessons 1: Income from Salary

Lesson Objective

Definition [Sec 17(1)]

Employer-Employee Relationship

Basis of Charge [Sec 17(1)]Profits in Lieu of Salary [Sec 17(3)]

Proforma of Computing Income from Salary

Salary Payments

Allowances

Perquisites [Sec 17(2)]

Comprehensive Illustrations

Lesson Summary

Assessment

Lessons 2: Income from House Property

Lesson Objective

Basis of Charge [Sec 22]

Deemed Owner [Sec 27]

Computation of Income from House Property

Types of House Property

Computation of Gross Annual Value

Computation of Net Annual Value

Deductions [Sec 24]

Other Points

Lesson Summary

Assessment

Lessons 3: Profits and Gains of Business/Profession

Lesson Objective

Basis of Charge [Sec 28]

Specific Deductions

Compulsory Maintenance of Accounts [Sec 44AA]

Prescribed Accounts Books [Rule 6F]

Compulsory Audit of Accounts/Tax Audit [Sec 44AB]

Comprehensive Illustration

Assessment of FirmsLesson Summary

Assessment

Lessons 4: Capital Gains

Lesson Objective

Introduction


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Capital Asset [Sec 2(14)]

Short-Term and Long-Term Capital Assets

Determination of Period of Holding of Assets

Transfer [Sec 2(47)]

Transactions Not Regarded as Transfers [Sec 47]

Mode of ComputationCost of Acquisition

Cost of Improvement

Indexed Cost

Cost in case of Certain Modes of Acquisition [Sec 49]

Computation of Capital Gains in Depreciable Assets [Sec 50(1),(2)]

Forfeiture [Sec 51]

Capital Gains on Conversion of Capital Asset into Stock-in-Trade

Capital Gains in case of Insurance Claim Received

Capital Gains in case of Compulsory Acquisition

Capital Gains in case of Buy Back of Shares or Securities [Sec 46A]

Withdrawal of ExemptionEmployee Stock Option Plan

Capital Gains on Conversion of Debentures into Shares

Capital Gains in Case of Bonus Shares, Right Shares and Right Entitlement

Capital Gains in Case of Liquidation of a Company

Capital Gains on Transfer of Firm's Assets to Partners

Cost of Acquisition in Case of Shares in Resulting Company

Capital Gains in Case of Slump Sale [Sec 50B]

Capital Gains in Case of Real Estate Transactions [Sec 50C]

Tax on Capital Gains [Proviso to Sec 112(1)]

Transactions of Shares in Demat

Taxation of Zero Coupon BondsCapital Gains in case of NRIs

Capital Gains Account Scheme

Capital Gains Exempt from Tax

Reference to the Valuation Officer [Sec 55A]

Short-Term Capital Gains Tax [New Sec 111A]

Long-Term Capital Gains Tax [Sec 112]

Exemption of Long-Term Capital Gains [Sec 10(38)]

Lesson Summary

Assessment

Lessons 5: Income from Other Sources

Lesson Objective

Introduction

Deductions Allowed [Sec 57]

Deductions Not Allowed [Sec 58]

Gifts

Dividend


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Income from Mutual Funds/UTI

Casual Income

Interest on Securities

Tax Avoidance

Interest Incomes Exempt from Tax



Mastery Test

Unit 3: Tax Calculations and Special Rules

Lessons 1: Clubbing of Income


Transfer of Income Without Transfer of Asset [Sec 60]

Revocable Transfer of Assets [Sec 61]

Income of Spouse [Sec 64(1)(ii)]

Income of Spouse from Transferred Asset [Sec 64(1)(iv)]

Income Arising to Son's Wife [Sec 64(1)(vi)]

Transfer of Assets [Sec 64(1)(vii),(viii)]

Clubbing of Minor's Income [Sec 64(1A)]

Cross Transfers

Conversion of Self-Acquired Property [Sec 64(2)]


Lessons 2: Set Off and Carry Forward of Losses

Lesson Objective

Introduction

Set-off of Losses Against Income Under Same Head [Sec 70]

Set-off of Loss Under One Head Against Income from Another [Sec 71]

Set-off and Carry Forward of Loss from House Property [Sec 71B]

Carry Forward and Set-off of Business Losses [Sec 72, 80]

Loss Under Capital Gains [Sec 74]Loss Under Income from Other Sources [Sec 74A(3)]

Order of Set-off and Carry Forward

Lesson Summary

Assessment

Lessons 3: Deductions Under Chapter VI-A


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Lesson Objective

Introduction

Brief Explanation of Deductions

Lesson Summary

Assessment

Lessons 4: Agricultural Income

Lesson Objective

Introduction

Tax Calculation

Partially Agricultural and Partially Business Income [Rules 7, 7A, 7B, 8]

Instances of Non-Agricultural Income

Instances of Agricultural Income

Lesson Summary

Assessment

Lessons 5: Tax Rates

Lesson Objective

Tax Rates Applicable for AY 2007-08

Lesson Summary

Assessment

Lessons 6: Assessment Procedure

Lesson Objective

Compulsory Filing of Return of Income [Sec 139(1)]Defective Return [Sec 139(9)]

Permanent Account Number [Sec 139A]

Classes of Persons Beyond Sec 139A [Rule 114C]

Authorised Signatory [Sec 140]

Self Assessment [Sec 140A]

Enquiry of Assessment [Sec 142]

Assessment [Sec 143]

Best Judgement Assessment [Sec 144]

Protective Assessment

Power of Joint Commissioner [Sec 144A]

Method and Standards of Computing Income [Sec 145]Income Escaping Assessment [Sec 147]

Time Limit [Sec 153]

Rectification of Mistakes [Sec 154]

Other Amendments [Sec 155]

Lesson Summary

Assessment


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Lessons 7: Appeals and Revisions

Lesson Objective

Introduction

Appealable Orders Before Commissioner [Sec 246A]

Appeal by Person Denying Liability to Deduct Income Tax [Sec 248]Form of Appeal and Limitation [Sec 249]

Power of Commissioner (Appeals) [Sec 251]

Appeals to the Appellate Tribunal [Sec 252 to 255]

Orders Appealable to the Appellate Tribunal [Sec 253]

Form of Appeal and Limitation

Appeal to High Court [Sec 260A]

Appeal to Supreme Court [Sec 261]

Revision by the Commissioner [Sec 263, 264]

Lesson Summary

Assessment


Mastery Test

Unit 4: Tax Planning Strategies

Lessons 1: Advance Tax

Lesson Objective

Introduction

Liability for Payment of Advance TaxComputation and Payment of Self Assessed Advance Tax

Payment of Advance Tax

Tax Computation by Assessing Officer

Instalments of Advance Tax [Sec 211]

Advance Tax Payment in Capital Gains and Casual Income

Credit For Advance Tax

Consequence of Non-payment of Tax

Tax on Book Profit [Sec 115JB]

Lesson Summary

Assessment

Lessons 2: Refund

Lesson Objective

Claiming Refund

Refund of FBT

Refund Form and Period

Refund on Appeal


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Lesson Summary

Assessment

Lessons 3: Tax Planning in Respect of Employee Remuneration


Tax Planning from Employer's Point of View

Tax Planning from Employee's Point of View

Lesson Summary

Assessment

Lessons 4: FBT

Lesson Objective

Introduction

DefinitionLesson Summary

Assessment

Lessons 5: Tax Planning, Tax Evasion, Tax Management

Lesson Objective

Introduction

Methods Commonly Used by Tax Payers

Distinction between Tax Planning, Tax Avoidance and Tax Evasion

Tax Management

Objectives of Tax PlanningTypes of Tax Planning

Factors Influencing Tax Planning

Areas of Tax Planning

Location of Business

Nature of Business

Form of Ownership

Lesson Summary

Assessment


Mastery Test

Unit 5: Miscellaneous Taxation Concepts

Lessons 1: Co-operative Societies

Lesson Objective


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Introduction

Deduction [Sec 80P]

Income Exempt from Tax

Rates of Tax

Lesson Summary

Assessment

Lessons 2: Taxation of Non-Residents

Lesson Objective

Introduction

Types of Non-Residents in India

Exemptions and Concessions

Definitions [Sec 115C]

Computation of Investment Income [Sec 115D]

Tax on Investment Income and LTCG [Sec 115E]

Capital Gains on Transfer of Forex Assets [Sec 115G]Return of Income in Certain Cases [Sec 115G]

Benefits Available [Sec 115H]

Tax on Dividends, Royalty and Technical Service Fees [Sec 115A]

Tax on Units Purchased in Foreign Currency [Sec 115AB]

Tax on Income of Foreign Institutional Investors from Securities [Sec 115AD]

Tax on Income from Bonds or GDRs Purchased in Foreign Currency [Sec 115AC]

Certain Incomes of Non Residents Taxable in India

Income not Taxable in the hands of Non-Resident

Profits of Non-Residents from Occasional Shipping Business [Sec 172]

Special Provision for Computing Profits in Operation of Aircraft [Sec 44BBA]

Deduction of Head Office Expenses [Sec 44C]Determination of Income in Certain Cases

Mode of Assessment

Lesson Summary

Assessment

Lessons 3: Trust and Political Parties

Lesson Objective

Introduction

Important Terms

Public and Private TrustsTax Exemption [Sec 11-13]

Exempted Income [Sec 11]

Conditions for Claiming Exemption

Conditional Accumulation

Trust Property Consisting Business Undertaking

Charitable Trust Engaged in Business Activity

Transfer of Capital Asset


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Voluntary Contributions [Sec 12]

Registration of Trust [Sec 12A ]

Denial of Exemption [Sec 13]

Prohibited Use or Application

Prohibited Category of Persons

Denial of Exemption in Non-Investment in Approved ChannelsTax Exemption to Political Parties

Lesson Summary

Assessment


Mastery Test


Mastery Test

Module 6 : Advanced Financial Planning

Unit 1: Personal Financial Planning

Lessons 1: The Concept of Financial Planning

Lesson Objective

Meaning of Financial Planning

Benefits and Obstacles in Financial Planning

Process of Financial PlanningFinancial Planner

Importance of Financial Planning

Future of Financial Planning

Lesson Summary

Lessons 2: Establishing Client Planner Relationship

Lesson Objective

Introduction

Understanding with the Client Needs

Engagement and Disclosure StatementsLesson Summary

Lessons 3: Data Gathering and Goal Setting

Lesson Objective

Introduction

Data Collection


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Goals and Objectives

Format of Questionnaires

Needs and Limits of Client

Seeking Further Information

Lesson Summary

Lessons 4: Analysing Client Data

Lesson Objective

Introduction

Need for Special Advice

Further Clarification of Client

Lesson Summary

Lessons 5: Cash Flow and Budgeting


Importance of Cash Flow

Budgeting

Relationship of Financial Planning and Budget

Emergency Funds Planning

Monitoring, Evaluation and Compliance of Budgets

Benefits of Liquidity

Debt Management

Forecasting

Lesson Summary

Lessons 6: Assessment of Risk and Client Behaviour

Lesson Objective

Introduction

Client's Attitude

Client's Knowledge and Awareness

Client's Behaviour

Health Status of Client

Client's Occupation and Hobbies

Risk Tolerance

Lesson Summary

Lessons 7: Personal Financial Statements and Ratios

Lesson Objective

Introduction

Financial Statement Analysis

Financial Statement Ratios


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Lesson Summary

Lessons 8: Developing and Presenting the Financial Plan

Lesson Objective

IntroductionCreating the Plan

Presenting the Plan

Revising the Plan

Lesson Summary

Lessons 9: Implementing and Monitoring the Financial Plan

Lesson Objective

Implementation of Plan

Process of Implementation

Reason for ReviewProcess of Review

Updating Financial Strategies

Responsibilities of Financial Planner

Conclusion

Lesson Summary

Unit 2: Financial Planning Guide

Lessons 1: Purpose of the Guide

Lesson ObjectiveAnnexure

2009 GOLS. All right reserved

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Diploma in Financial Planing