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BUSINESS TAX PROCEDURE & MANAGEMENT
(contents)

 

1.   Income Tax Authorities

STRUCTURE

    1. Various Authorities
    2. Power Of Income Tax Authorities Relating To Search And Seizure [ Section 132 ]
    3. Application Of Seized Or Requisitioned Assets [Section132(B)]
    4. Power Of Survey [ Section 133a ]
    5. Provision Relating To Power To Collect Certain Information [Section 133b]
    6. Disclosure Of Information Regarding Assessees To Certain Authorities [ Section 138 ]

2.   Recovery of Tax and Refunds

STRUCTURE

    1. Payment of Tax
    2. Modes of recovery of Tax
    3. Refunds

3.   Tax Deducted at Source (TDS)

STRUCTURE

    1. Introduction- Deduction of Tax at Source (TDS)
    2. Deduction of Tax from the “Salary” [ Sec-192]
    3. Deduction Of Tax From Interest On Securities [ Section-193]
    4. Deduction Of Tax From Deemed Dividend [ Section-194]
    5. Deduction Of Tax From Interest Other Than Interest On Securities [ Section 194A]
    6. Winning From Lottery Or Crossword Puzzle Or Card game And Game Of Any Sort [Section 194B]
    7. Winning From Horse Race [ Section 194BB]
    8. Payment To Contractor And Sub-Contractor [ Section 194C]
    9. Tax Deducted At Source From Insurance Commission [ Section 194D]
    10. Payments To Non-Resident Sportsmen Or Sports Associations [ Section 194E]
    11. Commission, Etc., On The Sale Of Lottery Tickets [Section 194G]
    12. Commission Or Brokerage [ Section 194H]
    13. Payment Of Rent [ Section 194 I ]
    14. Fees For Professional Or Technical Services [ Section 194J]

4.   Filling of Return

STRUCTURE

  1. Introduction
  2. Time Limit For Filling Return Of Income [ Section 139(1)]
  3. When Return Of Loss Should Be Filed [ Section 139(3)]
  4. Can Return Be Filied Beyond Time [ Section 139(4)]
  5. Can Revised Return Be Filed [ Section 139(5)]
  6. What Is A Defective Or Incomplete Return [ Section 139(9)]
  7. Who Should  Sign The Return Of Income [ Section 140]
  8. Permanent Account Number (PAN)

5.   Tax Planning , Tax Avoidance and Tax Evasion

STRUCTURE

5.1. Meaning of Tax Planning
5.1.1. Why Every Person Needs Tax Planning ?
5.1.2. How is Tool of Tax Planning Exercised ?
5.1.3. Methods Of Tax Planning
5.2. Tax Avoidance
5.3  Tax Evasion
5.4. The Difference Between ‘Tax Planning’ And ‘Tax Management’
5.5. The Difference Between ‘Tax Avoidance’ And ‘Tax Evasion’.

6.   Penalty and Prosecution

STRUCTURE

    1. Procedure for imposing Penalty [ Sec. 274]
    2. Various Types Of Penalties In The Event Of Default.
    3. Prosecutions

7. Fringe Benefit Tax (FBT)

STRUCTURE

7.1. Introduction
7.2. Salient Features Of FBT
7.3. Important Points Relating To Fringe Benefit Tax
7.4. Characteristics Of FBT
7.5. Classification Of Employer For FBT
7.6. Classification Of Not Employer For FBT
7.7. Direct Fringe Benefit
7.8. Deemed Fringe Benefit
7.9. Payment Of FBT To The Government
7.10. Filing Of FBT Return

8.   Service Tax

STRUCTURE

    1. Service Tax – Key Provisions At A Glance
    2. Applicability Of Service Tax
    3. Service Tax Rate
    4. Registration Formalities
    5. Payment & Refund Of Tax
    6. Filling Or Returns
    7. Assessments
    8. Central Value Added Tax (Cenvat) Credit
    9. Penalties & Prosecutions

9.   Value Added Tax (VAT)

STRUCTURE

    1. Introductions
    2. Concept of VAT
    3. Types of Dealers
    4. General terminology used in VAT
    5. Advantages of VAT over Sales Tax
    6. VAT Rates
    7. Computation of VAT and Profit
    8. Items Covered in Indian VAT

10.       Central Sales Tax (CST)

STRUCTURE

    1. Introductions
    2. Inter-State Sale
    3. What are the objectives of CST Act ?
    4. What are the conditions for CST Act to become applicable.
    5. Rate of CST
    6. Sale Price
    7. CST Transactions Forms

11.       Tax Collected at Source (TCS)

STRUCTURE

    1. Introductions
    2. Classification of Seller for TCS
    3. Classification of Buyer for TCS
    4. Goods and Transactions classified under TCS.
    5. Certificate of TCS
    6. TCS Exemptions
    7. Payment of TCS to the Government
    8. Electronic TCS (e-TCS)
    9. Filing of TCS Returns
 

12. PROSECUTIONS Under Income Tax Act.    

    1. For removing any Asset, Books of account, documents etc. found during search in contravention of order served under [Section 132 (3)]
    2. Removal, Concealment, transfer or delivery of property to avoid tax recovery [Section 276]
    3. Default on the part of Liquidator [Section 276 (A)]
    4. Failure to comply with provisions regarding transfer of immoveable property [Section 276 AB].
    5. Failure to pay the tax deducted at source [Section 276 W]
    6. Failure to pay the tax collected at source [Section 276 (BB)]
    7. Willful attempt to evade Tax, Penalty, Interest etc. [Section 276 C (1)]
    8. Failure to furnish return of income (Section 276 CC)
    9. Failure to furnish return of income in search cases u/s 158 BC (Section 276 CCC)
    10. Failure to produce accounts and documents [Section 276 (D)].
    11. False Statement in Verification [Section 277]
    12. Falsification of books of account or document, etc. [Section 277A]
    13. Abetment in False Return (Section 278)
    14. Punishment of Second and Subsequent Offences (Section 278 A)
    15. Punishment not to be imposed in certain cases (Section 278 AA)
    16. Offences by Companies (Section 278 B)
    17. Offences by Hindu Undivided Families. (Section 278 C)
    18. Presumption as to Assets, Books of Account etc. in certain cases. (Section 278 D)
    19. Prosecution to be at the instance of commissioner [Section 279]
 

13. Income Tax " Settlement Commissions"    

    1. Meaning of Settlement Commisions
    2. Setting Up Of Settlement Commission
    3. Constitution Of Settlement Commission [Section 245B]
    4. Jurisdiction And Powers Of Settlement Commission [Section 245BA]
    5. Vice-Chairman To Act As Chairman [Section 245 BB]
    6. Transfer Of Cases [Section 245 BC]
    7. Decision To Be Majority [Section 245 BD]
    8. Application For Settlement Of Cases [Section 245 C]
    9. Calculation Of Additional Income-Tax [Section 245C (IA)]
    10. Bar On Making Application [Section 245C (1E)]
    11. Procedure On Receipt Of Application [Section 245D]
    12. Payment Of Additional Income-Tax [Section 245D (2A)]
    13. Power Of Settlement Commission To Order Provisional Attachment To Protect Revenue [Section 245DD (1)]
 
 
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