| Programme Detail |
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Timings: 9:45 am - 5:30 pm , Registration begins at 9:15 am
One-day interactive conference on
New TDS Rules, Revised Direct Tax Code,
TDS on salary, Retirement Benefits & Remuneration Planning
Including
All important developments pertaining to corporate tax and employees remuneration
Income-tax (Sixth Amendment) Rules, 2010, has made substantial changes 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. These changes will have wide impact on the responsibility of the persons responsible for tax deduction and collection. Moreover, with effect from April 1, 2010, section 206AA has been activated to impose a minimum TDS at the rate of 20 per cent in some cases.
Further, new version of Direct Tax Code will be presented in the parliament in the 3rd week of August 2010. The Direct Tax Code (if passed by Parliament) will be effective from the financial year 2011-12 and will have consequential impact on corporate tax planning.
Besides these changes, Dr. Vinod K. Singhania will discuss TDS under section 192, taxation of perquisites and retirement benefits.
Income-tax (Sixth Amendment) Rules, 2010
* 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.
New Direct Tax Code
* Clause by clause discussion (along with case studies) on important provisions affecting corporate and personal tax.
* Tax consequences (if Direct Tax Code is implemented) on corporate sector and employees tax liabilities.
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/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.
Taxation of other income of employees
* Tax on property income, treatment of interest on borrowed capital, interest on borrowed capital vis-à-vis HRA exemption.
* Taxation of capital gains.
* Tax planning devices.
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.
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.
How to Register:
* Fees: Rs. 7,000/- +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. |
