Course Outline :

You will learn practically as we discussed in the above which will be covered in total 10 classes consist of two hours each. Day-wise learning areas are provided below in bullet points.

Day 01: TDS Calculation on Salaries

• TDS calculation on employee salaries using an example
• Show how to calculate average rate to deduct monthly TDS from salary
• Discuss how to consider the investment allowance for tax rebate
• How to adjust increment of the employee salary at anytime
• How to prepare salary certificate to provide employees for tax filing

Day 02: TDS and AIT

• Discuss everything about withholding tax applicable as per tax law
• How you will deduct tax by applying TDS rates
• How to calculate TDS if the invoice amount is exclusive of tax and VAT
• Time limit for payment of TDS, consequences of failure to deduct collect, etc.
• Discuss tax filings to the circle related with tax deducted at source
• How to find out the eligibility of the advance income tax payment by the taxpayer
• How to estimate tax advance income tax and find out the instalments tax amount
• Show the penalty calculation for failure to meet the AIT ceiling

Day 03: Capital Gain

• Which are considered for during capital gain calculation for tax purpose
• How to find out the capital gain by selling an asset
• How to enjoy tax exemptions by investing capital gain
• How to calculate depreciation on assets buying from capital gain
• Discuss set-off and carry forward of capital loss

Day 04: Income from business or profession

• Discuss 03 important definitions to calculate company tax
• Discuss fully income from business considered for taxable income calculation
• Discuss partly income from business included with taxable income of company
• Un-explained investment/deemed to be income of company
• Allowable deductions or admissible expenses which are considered for deductions from income
• Inadmissible expenses which are added with taxable income of the company
• Method of accounting for business to follow to prepare company financial statements
• Income in certain cases which are also included with taxable income of the company
• Set off and carry forward of business loss
• Discuss which are separate items considerations during company tax calculation

Day 05: Exemptions for business

• How a business can avail tax exemptions facilities
• Where the exemptions benefits are provided as per tax law
• What are the procedures to obtain the tax exemption facilities

Day 06: Recovery of Tax and Refund

• Details discussion on method of recovery by TRO 
• How a business can get double taxation relief
• When a company is entitled to get refund after tax assessment
• How a company can adjust refund against corporate tax liability
• How you will claim interest on delayed refund assessed by the tax authority

Day 07: penalty and Punishment

• Discuss in details about all penalties may impose for non-compliance of tax law
• Discuss in details about all punishments may impose for non-compliance of tax law

Day 08: Appeal and Transfer Pricing

• What a company shall follow if aggrieved by the assessment order of the DCT
• Discuss about the ground preparation for the appeal and Tribunal
• What are the procedures to follow for filing appeal to the Commissioner of Taxes (Appeal)
• When a company may file appeal to the Appellate Tribunal
• On which ground, a company can go to High Court
• Discussions of the most appropriate method for determining the arm’s length price of an international transaction
• Information and documents to be kept and maintained under section 107E
• Form of report to be furnished under section 107F
• Statement of international transaction to be furnished under section 107EE

Day 09: Company Tax Calculation

• Show taxable income calculation from a financial statement
• Show the impact of corporate tax for section 30B
• Show in details about minimum tax calculation
• What will be the minimum tax if company has disallowances under section 30
• What will be the minimum tax in case of a company enjoying tax exemptions or reduced tax rate benefit

Day 10: Company Return Preparation

• How to prepare a company tax return from after company tax calculation
• What are the supporting documents shall be submitted with return form
• How to apply for the time extension for failure to submit the tax return within due date
• Show the interest calculation for delay submission of corporate tax return

Curriculum