Practical Aspects of Income Tax

Last Date of Registration: April 12, 2025
Venue Online Live Google Meet

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.

The Income Tax Ordinance, 1984, Income Tax Rules, 1984, relevant SROs with their latest changes, Finance Acts, Case Laws, and Double Taxation Avoidance Agreements (DTAA) would be discussed in details during training session. TDS, procedure of claiming refund, avoiding of penalty and prosecutions, risk area of universal self audit would be discussed in details. Procedure of appeal & tribunal would also be discussed. Therefore, the training session will provide opportunities to learn for those who want to reduce tax liability legally and to avoid unnecessary litigations.

Contents of training:

Day 1:

  1. A brief discussion regarding income tax
  2. Heads of Income
  3. Discussion regarding tax impact of resident and nonresident individual
  4. How to calculate income from salary and how to calculate TDS on income from salary
  5. A brief discussion regarding different types of funds

Day 2:

  1. How to calculate income from interest on security
  2. How to calculate income from house property

Day 3:

  1. How to calculate income from agriculture
  2. How to calculate income from capital gain

Day 4 :

  1. How to calculate income from business and profession
  2. How to calculate income from other sources

Day 5:

  1. Discussion of set off and carryforward of losses
  2. How to set off and carryforward of losses in the return
  3. Discussion of advanced payment of tax
  4. How to calculate advanced payment of tax
  5. Consequences regarding non compliance of advanced payment of tax
  6. Discussion of foreign income

Day: 6

  1. Computation of taxable income and tax liability of an individual

Day 7:

  1. Discussion of minimum tax under section 82 (c)
  2. Discussion regarding TDS

Day 8:

  1. Corporate Tax compliance in case of Income Tax
  2. Corporate and individual tax planning
  3. Penalty against noncompliance of section and rules of income tax

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