Why This Training is Important:

Tax, particularly income tax is a core issue on the part of the management of corporate houses. It equally affects individual taxpayers. So tax planning and management becomes a major concern on the part of all types of assesses. Every person either individual or corporate body always tries to keep his or its tax expense at a minimum level and therefore requires good tax personnel to deal with taxation matter very effectively & efficiently. But, as a matter of fact, understanding of income tax is not very easy, as it is by nature very technical & complicated. So it needs in-depth knowledge and clear conception to discharge duties and responsibilities on the part of tax practitioners, advisers or tax personnel.

This special tax training program is designed for those who are interested to learn how tax return can be filled-up properly because a practical tax return will be filled-in from audited accounts. Moreover, TDS return will also be filled-in practically. These 2 return form fill-up is the main attraction of this course. Other issues like TDS, DTAA, Transfer Pricing, Assessment, Penal procedure, Appeal etc. will come automatically. 

Therefore, the training session will provide opportunities to learn for those who want to learn company tax matter thoroughly with practical return fill-up experience.

How participants will benefit after this training:

The objective and purpose of this course is to provide income tax knowledge especially salary tax, withholding tax and major changes proposed through Budget, 2022. Thus, attending the course, the participants can develop a synoptic view of the INCOME TAX system and on that basis they would be able to perform their INCOME TAX related jobs themselves. Without basic INCOME TAX knowledge, facing an INCOME TAX related problem, anybody becomes confused and worried. On completion of the course, the participants will get knowledge to understand their problems, to do their jobs themselves and to help others in INCOME TAX matters. Thus, they will be able to run the fiscal management in their organizations in far better way; protect their organizations from future troubles; and would be able to develop their career in finance, INCOME TAX and management areas. 

Contents of Training:

Day 1:

• A brief discussion regarding income tax
• Heads of Income
• Discussion regarding tax impact of resident and nonresident individual
• How to calculate income from salary and how to calculate TDS on income from salary
• A brief discussion regarding different types of funds

Day 2:

• How to calculate income from interest on security?
• How to calculate income from house property?

Day 3:

• How to calculate income from agriculture?
• How to calculate income from capital gain?

Day 4:

• How to calculate income from business and profession?
• How to calculate income from other sources?

Day 5:

• Discussion of set off and carryforward of losses
• How to set off and carryforward of losses in the return
• Discussion of advanced payment of tax
• How to calculate advanced payment of tax
• Consequences regarding noncompliance of advanced payment of tax
• Discussion of foreign income

Day: 6

• Computation of taxable income and tax liability of an individual

Day 7:

• Discussion of minimum tax under section 82 (c)
• Discussion regarding TDS

Day 8:

• Corporate Tax compliance in case of Income Tax
• Corporate and individual tax planning
• Penalty against noncompliance of section and rules of income tax