Training on TDS Rules
Direct Tax Code& Remuneration Planning
Including all important developments pertaining to corporate tax and employees remuneration
By Dr. V Singhania
3 DEC 2011 - JW Marriott, MUMBAI
10 DEC 2011 - The Lalit, BANGALORE
16 DEC 2011 - The Lalit, DELHI
Introduction
Since April 1, 2010, substantial changes have been made in the matter of time and mode of payment of TDS/TCS to Government, time and mode of issue of TDS/TCS certificates and TDS/TCS quarterly returns. These changes have wide impact on the responsibility of the persons responsible for tax deduction and collection. Moreover, sections 206AA and 94A have been activated to impose a minimum TDS at the rate of 20/30 per cent in some cases.
All important changes affecting corporate tax and personal tax will be discussed in the interactive conference.
The Direct Taxes Code, 2010, has already been introduced in Parliament. The Direct Taxes Code (if passed by Parliament) will be effective from the financial year 2012-13 and will have consequential impact on current and future corporate tax planning. Besides, it will require restructuring of remuneration plans to ensure that employees get maximum tax advantage within the legal parameters during employment and after retirement.
Besides these changes, Dr. Vinod K. Singhania will discuss TDS under section 192, taxation of salary, allowances, perquisites and retirement benefits (under the present Income-tax Act and proposed Direct Taxes Code).
Conference Schedule:
New Direct Taxes Code, 2010
• Clause by clause discussion (along with case studies) on important provisions affecting corporate and personal tax.
• Tax consequences (if Direct Taxes Code is implemented) on corporate sector and employees tax liabilities.
Recent Changes in TDS Procedures
• New format and mode of TDS/TCS certificates in Form No. 16, 16A and 27D, time-limit of issue of these certificates.
• Time and mode of deposit of TDS/TCS by tax deductors/collectors.
• Time and mode of deposit of quarterly TDS/TCS returns.
Impact of sections 206AA & 94A
• Implication of sections 206AA & 94A in respect of deduction of tax under different provisions including overseas payments and payments in notified jurisdictional area.
Tax on Perquisites
• Tax on different perquisites provided to employees (like – rent-free/concessional accommodation, car, driver, education, domestic servant, interest-free/concessional loan, sweat equity shares, touring/traveling facility, gift, club facility, credit card facility, meal vouchers, refreshments, use of movable assets, transfer of movable assets, medical facility, leave travel concession).
• Tax-free perquisites.
• Tax planning devices - How to convert within legal parameter a taxable perquisite into tax-free perquisite or perquisite taxable at concessional rate.
• Documentation required.
Retirement benefits
• Taxation on gratuity, leave encashment, pension, provident fund, VRS payments.
• Tax liability under new pension scheme.
• Tax planning devices including investment planning.
Tax deduction under section 192
• Obligation of employer under section 192.
• Estimation of employees’ salary. Other incomes of employees. Losses declared by employees.
• Preparation of Form No. 16 (in new format) in different situations - When an employee has joined or left during a financial year, presentation of other incomes/loss of employees in Form No. 16. Presentation of tax deducted by others in respect of other income reported by employees in Form No. 16.
• Employers’ obligation in respect of computation of relief under section 89 and providing deduction under sections 80C to 80U.
• Quarterly return in Form No. 24Q in electronic format.
Remuneration planning
• Remuneration planning to minimize employees’ tax liability. Restructuring of present remuneration plan keeping in view present and future tax liability of employees. General guidelines for tax planning. Importance of different documents to get exemption in respect of allowances and perquisites.
FINANCE ACT 2011
• Important amendments pertaining to corporate tax, personal tax and tax deduction/collection at source proposed in the Finance Act, 2011.
• Tax planning devices pertaining to aforesaid amendments.
Case Studies and Question Answers
Target Audience
The programme will benefit: Finance, Accounts, HRD Department and all those who are concerned with Tax Deduction at Source and Financial Management Decisions.
Faculty
Dr. V Singhania
Senior tax consultant Associated in different capacities with several professional institutes and business houses in India and abroad
Seminar Key speaker in more than 600 seminars in different parts of the country
Published work More than 35 books and 300 research articles
Research experience 35 years in guiding Ph.D students
Timings
9:45 am - 5:15 pm , Registration begins at 9:15 amHow to Register
• Fees: Rs. 7,500/- +10.3 % service tax per person
• Please write to register@princetonacademy.in / Call -022 66976892
• Mention the name of participant, company, contact details .
• Cheque favouring Princeton Academy Mumbai II Pvt. Ltd. payable at Mumbai.
• Fees includes lunch, tea, course material etc.
Register for Seminar
Online Registration form
Contact us
Registered Office Address
Princeton Academy
502 Shalimar Morya Park,Link Road,Andheri [W], Mumbai - 400053. INDIA
Tel: +91 22 66976892 | Fax: 022 26733060
Email: register@princetonacademy.in
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