Tax deduction at Source (TDS), has been one of the vital tools of revenue collection for the Government. To avoid any leakage and non-compliance, onerous consequences (including prosecution), are present in the law. Further, with keen focus on revenue collection by the Government, there has been a substantial increase in litigation and notices received by taxpayers relating to TDS defaults and compliances, which adds to the compliance costs of business. Further, numerous interpretational issues arise at the time of making foreign remittances with DTAA provisions coming into picture and has been observed to be a pain point for the business.
Need has been felt to deliberate on key issues on the various provisions and new developments relating to TDS, especially relating to foreign remittances.
The following topics would be covered in the ONE day exhaustive Workshop:
- Overview of various TDS provisions under the Income-tax Act, 1961 ('the Act') governing domestic and foreign payments;
- Timelines to deduct and deposit taxes, filing of TDS returns;
- Practical aspects related to TRACES functionalities, E-filing & revision of TDS returns and issue of TDS certificates;
- Consequences (interest, fee, penalty, etc.) on account of default in complying with the TDS provisions and disallowance under Section 40 of the Act;
- Prosecution and compounding;
- Overview of Nil/ lower withholding certificates under Section 195/ 197; and
- Issues pertaining to TDS refunds/ challan adjustments
- Overview of various provisions governing domestic payments;
- Reimbursement of common cost allocations between domestic group companies; and
- Recent developments and key recent judicial precedents
- Overview of Section 195 and interplay between provisions of the Act and DTAA;
- Requirement for furnishing Tax Residency Certificate (TRC), PAN, PE certificate, etc.;
- Interplay between rates specified in DTAA vis-à-vis Section 206AA and TDS rates in Finance Act;
- TDS position in case of No PE vs PE;
- Impact of Non-discrimination clause under DTAA;
- Procedure and requirement of other documents to be submitted at the time of making remittances i.e. Form 15CA/ CB, etc.;
- Reimbursement of Salary under secondment arrangements;
- Salary payment to non-residents/ outside India;
- Purchases made outside India and commission paid to foreign agents;
- Capital gains on share sale (gross amount or net gains);
- Interplay between TDS and Equalization levy provisions;
- Consulting charges or professional fees;
- Reimbursement of expenses (such as travel, hotel, etc.);
- Payment of IT charges (i.e. software, licenses, LAN, website hosting, etc.);
- Interest payments (bonds, debenture, rupee loans, etc.);
- Interest payments made to Foreign Banks in India or outside India; and
- Satellite connectivity charges, equipment rentals, etc.
- Mr. Purshottam, CPC(TDS) Income Tax Department
- Mr. Sandip Mukherjee, Partner, Deloitte Haskins & Sells LLP
- Other experts from consulting firm
The Workshop is targeted at officers dealing in Taxation, Accounts in the corporate world as well as practicing CA, CS, CMA and other related professionals, Trade & Industry, Government, Public Sector Units, Consultancy Organizations, Funding Agencies, Corporate Lawyers, Banks & Other Financial Institutions.
- Fees is kept at Rs. 4000/- per participant (including Taxes, refreshment & lunch)
- 10% discount for two or more persons from the same organization
Kindly fill in the attached registration form and send to us at
firstname.lastname@example.orgemail@example.com at the earliest.
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