TDS & Remuneration Planning by Vinod Singhania

The Central Board of Direct Taxes (CBDT) has notified certain changes in Form 16. The new Form 16 is made effective from May 12, 2019. Employers issuing Form 16 for the financial year 2018-19 will have to issue them in the new format.

Besides these changes, Dr. Vinod K Singhania will discuss TDS under section 192, 192A, 194C, 194-I, 194-IA, 194-IB,194J, 194M, 194N and 195, contemporary issues on TDS (including correction statements pertaining to quarterly TDS returns).

Taxation Laws (Amendment) Ordinance 2019 has made significant changes in corporate tax rates for certain companies and applicability of surcharge in different situations. All these important changes affecting corporate tax, personal tax, TDS, remuneration planning, perquisite taxation, taxation of retirement benefits will be discussed in the interactive workshop.

Managers/Senior Executives from

  1. Finance,
  2. Accounts,
  3. HRD Department and
  4. All those who are concerned with Tax Deduction at Source and Financial Management   Decision

Modification in the format of Form No. 16 (Part B) and Form No. 24Q (Annexure II)

  • Impact on ITR filing
  • FORM 16 changes
    • Details of different allowances/perquisites given to employees
    • Details of exemption given to the concerned employee under different clauses of section 10
    • Details of deductions given under different sections under Chapter VI-A (i.e., sections 80C to 80U)
    • Details of other incomes reported by employee to employer
    • PAN of landlord in case of exemption pertaining to house rent allowance
    • PAN of lender in case of interest on housing loan

TDS on Salary under section 192

  • Obligation of employer under section 192.
  • Estimation of employees’ salary. Other incomes of employees. Losses declared by employees.
  • Form No. 12BB, Form No. 12BA
  • Preparation of Form No. 16 in different situations – When an employee has joined or left during a financial year, details of other incomes/loss of employees in Form No. 16, details 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.
  • Time limit for payment of TDS to the government
  • Employee needs to provide all the documents related to deductions as well as other income for proper computation of TDS
  • TDS and taxation of retirement benefits (gratuity, leave encashment, provident fund, pension and voluntary retirement)

TDS on payments other than salary

  • TDS under section 194C, 194DA, 194-I, 194-IA, 194-IB, 194J, 194-IC, 194LA, 194M, 194N, 195
  • Consequences of TDS defaults
  • Forms for lower or no deduction of TDS under Section 197

GST on Perk/perquisite provided to employees

  • Whether perk/perquisite provided to employees in the course of employment is “supply” under GST.
  • What are the perks given by employer which will attract GST?
  • What is the different between gift or a reward and whether reward should attract GST or should be treated as a performance bonus in nature of salary?
  • Can personal use of company cars be treated as a service and whether it will attract GST?
  • Will companies be able to claim input tax credit on Intracompany ‘transactions’?

Tax on Remuneration Planning with tax provisions for different scenarios

  • Remuneration planning to minimize employees’ tax liability.
  • Restructuring of present remuneration plan keeping in view present and future tax liability of employees.
  • Tax on different perquisites provided to employees (like – rent-free/concessional accommodation, car, driver, education, domestic servant, interest-free/concessional lo an, 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 for including perquisites while calculating TDS

Provisions pertaining to surcharge for assessment year 2020-21

  • New provisions as introduced by Taxation Laws (Amendment) Ordinance 2019
  • Applicability of the new provisions in TDS matters

Special provisions pertaining to taxation of certain companies

  • Lower corporate tax regime under new sections 115BAA and 115BAB [as introduced by Taxation Laws (Amendment) Ordinance 2019]
  • Consequences when above provisions are applicable
  • Applicability of MAT/carried forward of MAT under the new tax regime
  • Comparative corporate tax incidence under old regime and new regime

Other amendments

  • Lower MAT
  • New depreciation rates for purchase of cars, buses, trucks, etc.

Dr. Vinod K. Singhania

  • Renowned tax consultant –Associated as senior tax consultant with several business houses and professional institutes in India and abroad
  • Seminar/workshops in tax laws – Key speaker in more than 750 seminars/ workshops in India and abroad
  • Published work in Tax Laws -More than 40 books published by Taxmann and 300 research articles published in different magazines and journals
  • Research experience in tax laws– 30 years in guiding Ph.D students and undertaking research in different aspects of taxation in India and abroad 

Timings: 10:00 am – 4:30 pm , Registration begins at 9:00 am

• Fees: Rs.9,500/-
+18% Goods and Service Tax Per Person.
• Please write to / Call or WhatsApp on -022 67256200
• Mention the name of participant, company, contact details .
• Cheque favoring Princeton Academy Mumbai II Pvt. Ltd. payable at Mumbai.
• Fees includes lunch, tea, course material, Certificate etc.

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