Including all important developments pertaining to corporate tax and employees remuneration 12 MAY 2012 – TAJ Westend, BANGALORE
19 MAY 2012 – The Claridges, DELHI
26 MAY 2012- JW Marriott, MUMBAI Introduction
Budget is likely to be passed in the first week of May 2012. All important changes affecting corporate tax and personal tax will be discussed in the interactive conference.
The Direct Taxes Code, 2010, has been introduced in Parliament. PARLIAMENT STANDING COMMITTEE has already submitted the report.
The Direct Taxes Code (if passed by Parliament) will be effective from the financial year 2013-14 and will have consequential impact on corporate tax planning.
Recently, substantial changes have been made in the case 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, recovery of tax from deductors, fees, penalty and interest on defaults committed by deductors. These changes will have wide impact on the responsibility of the persons responsible for tax deduction and collection.
Besides these changes, Dr. Vinod K. Singhania will discuss PARLIAMENT STANDING COMMITTEE REPORT, TDS under section 192, 194C, 194J and 195. Programme Schedule:
FINANCE ACT 2012
•Important amendments pertaining to corporate tax, personal tax and tax deduction/collection at source proposed in the Finance Act, 2012.
•Tax planning devices pertaining to aforesaid amendments.
•Direct Taxes Code, 2010 along with PARLIAMENT STANDING COMMITTEE REPORT
•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.
• New format 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 section 206AA
• Implication of section 206AA in respect of deduction of tax under different provisions including overseas payments.
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/travelling 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.
• 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.
TDS on payments other than salary (after changes made by Finance Act, 2012)
• TDS under section 194C
• TDS under section 194J
• TDS under section 195
• Consequences of TDS defaults
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.
9:45 am – 5:15 pm , Registration begins at 9:15 am How to Register
• Fees: Rs. 7,900/- +12.36 % service tax per person
• Please write to
/ 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.