Certification in Corporate Tax Planning

Description

Take the next step in your career! Whether you’re an up-and-coming professional, an experienced executive, aspiring manager, budding Professional. This course is an opportunity to sharpen your cost management and accounting capabilities, increase your efficiency for professional growth and make a positive and lasting impact in the business or organization.

With this course as your guide, you learn how to:

• All the basic functions and skills required corporate tax planning.
• Transform residential status and the taxation. Set off and carry forward of losses, deductions: for special conditions. Computation of taxable income of companies.
• Get access to recommended templates and formats for the detail’s information related to business environment.
• Learn useful case studies, understanding the tax planning for different organizations, financial management decisions, tax consideration in specific managerial decisions, tax planning for liquidations, advance tax planning and tax relief, tax treatment for business re-structuring, restructuring: conversion and slump sale with useful forms and frameworks
• Invest in yourself today and reap the benefits for years to come.

The Frameworks of the Course

Engaging video lectures, case studies, assessment, downloadable resources and interactive exercises. This course is created to Learn about Corporate Tax planning, Residential status and Taxation, its importance through various chapters/units. How to maintain the Income Tax and its basic framework. Also, to learn about the set- off and carry forward of losses.

Tax planning will help you to understand the details about the tax planning for different organization, deductions-for special conditions. Financial management decisions. Tax consideration in specific managerial decisions. Tax planning for liquidations. Advance Tax planning and tax relief. Tax treatment for business re-structuring. Conversion and slump sale.

The course includes multiple Case studies, resources like formats-templates-worksheets-reading materials, quizzes, self-assessment, film study and assignments to nurture and upgrade your Corporate Tax Planning in details.

In the first part of the course, you’ll learn the details of the Corporate Tax Planning, residential status and taxation, Set-off and carry forward of losses. Computation of Taxable income of companies. Tax planning: FTZ, SEZ and 100% EOUs.

In the middle part of the course, you’ll learn how to develop a knowledge Deductions-for special conditions. Tax planning for different organization, financial management decisions. Tax consideration in specific managerial decisions. Tax planning for liquidation.

In the final part of the course, you’ll develop the knowledge related to the advance tax planning and tax relief, Tax treatment for business re-structuring. Restructuring: Conversion and the slump sale. You will get full support and all your quarries would be answered.

Course Content:

Part 1

Introduction and Study Plan

· Introduction and know your Instructor

· Study Plan and Structure of the Course

1. Income Tax: Basic Framework.

1.1. Introduction

1.2. Concept of Income.

1.3. Features of Income.

1.4. Historical Background of Income Tax.

1.5. Agricultural Income.

2. Residential Status and Taxation

2.1. Introduction

2.2. Residential status of a company.

2.3. Incidence of Tax.

2.4. Scope of Income.

3. Corporate Tax Planning.

3.1. Introduction

3.2. Concept of Tax Planning.

3.3. Different types of Tax Planning strategies.

3.4. Overview of Corporate Tax Planning.

3.5. Tax evasion.

3.6. Importance of Tax Evasion.

3.7. Tax Management

3.8. Difference between Tax Planning and Tax Management.

4. Set-off and carry forward of losses.

4.1. Introduction

4.2. Inter head Adjustment (Section 71).

5. Computation of Taxable Income of Companies.

5.1. Introduction

5.2. MAT Credit

6. Tax Planning: FTZ, SEZ and 100 % EOUs

6.1. Introduction.

7. Deductions: For Special Conditions Introduction

7.1. Introduction.

8. Tax Planning for Different Organisations

8.1. Introduction

8.2. Decisions regarding forms of organizations.

8.3. Forms of Business organization

8.4. Factors Involved in Selection of Organization

8.5. Tax Planning for Sole Proprietorship

8.6. Tax Aspects of a Proprietorship

8.7. Disadvantages of Sole Proprietorship

8.8. Tax Planning for Partnership

8.9. Position of Firm under the Income Tax Act

8.10. Provisions Relating to Taxation of Partnership Firms

8.11. Advantages of a Partnership

8.12. Disadvantages of a Partnership

8.13. Tax Planning for Company

9. Financial Management Decisions

9.1. Introduction

9.2. Capital Structure Decisions

9.3. Need for Capital Structure Planning

9.4. Guidelines for Capital Structure Planning

9.5. Capital Structure Decision and Tax Planning

9.6. Dividend Policy: Meaning and its Distribution

9.7. Types of Dividends

9.8. Dividend Policy

9.9. Dividend Distribution Tax (DDT)

9.10. Due Date for Payment of Tax

9.11. Section 115-S: Interest Payable for Non-payment of Tax

9.12. Section 115-T: Consequences for Non-payment of Additional Income Tax on Income Distributed to Unit Holders

9.13. Issue of Bonus Shares

9.14. Conditions for Issue of Bonus Shares

9.15. Advantages of Bonus Shares

9.16. Advantages to the Shareholders

Part 2

10. Tax Consideration in Specific Managerial Decisions

10.1. Introduction.

10.2. Managerial Decision

10.3. Functional Management and Decision-making

10.4. Other Dimension of Managerial Decision-making

10.5. Make-or-Buy Decision

10.6. Classification in Make-or-buy

10.7. Buy or Lease Decision

10.8. Export or Local Sales Decision

10.9. Tax Planning Regarding Employees Remuneration

10.10. Fixation of Tax Liability

10.11. Tax Planning Regarding Fringe Benefit Planning

10.12. An Overview of the Possible Fringe Benefit Options

10.13. Explanation of How FBT Will Operate

10.14. Explanation of How FBT Will Operate

10.15. Salary Restructuring

11. Tax Planning for Liquidation

11.1. Introduction.

11.2. Concept of Liquidation

11.3. Tax Considerations in Liquidations

11.4. Income Tax Treatment upon Enterprise Liquidation

11.5. Tax Implications of Liquidating a Company

12. Advance Tax Planning and Tax Relief

12.1. Introduction

12.2. Concept of Advance Tax Payment

13. Tax Treatment for Business Restructuring

13.1. Introduction

13.2. Business Restructuring

13.3. Definition as per Income Tax, 1961

14. Restructuring: Conversion and Slump Sale

14.1. Introduction

14.2. Conversion of Partnership Firm into Company

Part 3

15. Assignments

· What do you mean by corporate tax planning? Note down the answer in your own words.

· Why taking managerial decisions is important? Explain dividend policy in your own words.

· What is the difference between sole proprietorship and Partnership business? Note down the answer in your own words.

Downloadable Resources and Templates

1. Financial Plan

2. Investment Plan

3. Budget Analysis

4. Break Even Analysis

5. Templates and Process Description

6. Case Study

Corporate Tax Management in an organisation a step by step approach

Managing corporate taxes in an organization involves a systematic and strategic approach to ensure compliance with tax regulations and optimize the tax position. Here is a step-by-step guide to corporate tax management:

1. Understand Tax Regulations:
   • Stay informed about local, state, and federal tax regulations that apply to your organization.
   • Regularly update your knowledge to ensure compliance with changes in tax laws.
2. Establish a Tax Team:
   • Form a dedicated tax team or assign tax responsibilities to specific individuals within the finance or accounting department.
   • Ensure that team members are well-trained and knowledgeable about tax regulations.
3. Maintain Accurate Financial Records:
   • Keep detailed and accurate financial records throughout the year.
   • Implement robust accounting systems to track income, expenses, and other financial transactions.
4. Tax Planning:
   • Develop a tax planning strategy to minimize the organization’s tax liability.
   • Consider tax credits, deductions, and incentives that may apply to your industry or specific activities.
5. Regular Tax Audits:
   • Conduct regular internal tax audits to identify and rectify potential issues before external audits.
   • Review financial statements and transactions to ensure compliance and accuracy.
6. Transfer Pricing Compliance:
   • Ensure that your organization’s transfer pricing policies comply with tax regulations.
   • Document and justify any intercompany transactions to avoid transfer pricing disputes.
7. Utilize Tax Software:
   • Invest in tax management software to streamline the process of calculating and filing taxes.
   • These tools can help automate calculations, track changes in tax laws, and generate necessary reports.
8. Tax Compliance Calendar:
   • Develop a tax compliance calendar that outlines deadlines for filing various tax returns and making tax payments.
   • Ensure timely submission of all required documents to tax authorities.
9. Risk Management:
   • Identify and assess potential tax risks.
   • Develop strategies to mitigate risks and ensure that the organization is prepared for potential tax controversies.
10. Engage with Tax Professionals:
    • Work with tax consultants, accountants, and legal experts to get advice on complex tax issues.
    • Seek professional assistance for tax planning and compliance to ensure accuracy and adherence to regulations.
11. Documentation and Recordkeeping:
    • Maintain thorough documentation of all transactions, decisions, and supporting documents.
    • This documentation will be crucial in the event of an audit or when filing tax returns.
12. Continuous Training:
    • Provide ongoing training to the tax team to keep them updated on changes in tax laws and regulations.
    • Encourage professional development to enhance the team’s expertise.
13. Monitor Global Tax Trends:
    • Stay informed about global tax trends and international tax laws, especially if your organization operates in multiple jurisdictions.
14. Engage in Tax Credits and Incentives:
    • Identify and leverage available tax credits and incentives that can benefit your organization.
    • These could include research and development credits, investment credits, and other industry-specific incentives.
15. Regularly Review Tax Strategy:
    • Periodically review and update your organization’s tax strategy to adapt to changes in the business environment and tax regulations.

By following this step-by-step approach, organizations can enhance their corporate tax management practices, ensure compliance, and optimize their tax position. It’s important to note that tax laws and regulations are subject to change, so staying proactive and adaptive is crucial in effective corporate tax management.