To acquire knowledge on practical application of direct taxes and international taxation.
CO 1: and interpret the provisions of direct tax laws and recommend solutions to practical problems.
CO 2: Compute income under various heads after allowing deductions available there under.
CO 3: develop a correlation of the concepts, principles and provisions of International Taxation and acquire the ability to apply such knowledge to make computations and to address application-oriented issues
CO 4 Comprehend and appreciate the country by county reporting requirements and related matters incorporated in income tax law.
Corporate Tax Planning & Tax Management: Tax Planning, Tax Management; Tax Avoidance v/s Tax Evasion; Areas of Corporate Tax Planning; Tax Planning Management Cell.
General Anti Avoidance Rules ‘GAAR’: Basic concept of GAAR; Impermissible avoidance arrangement; Arrangement to lack commercial substance; Application of GAAR Rule; GAAR v/s SAAR.
Taxation of Companies,: Tax incidence on Companies including foreign company; Minimum Alternate Tax ‘MAT’; Dividend Distribution Tax; Alternate Minimum Tax ‘AMT’;
Taxation of LLP and Non-resident: Tax incidence on LLP; Taxation of Non-resident Entities.
Tax Treaties: Introduction, Double Taxation, Double Taxation Relief, Objectives of Tax Treaties, Application of Tax Treaties, Interpretation of Tax Treaties, Process of Negotiating Tax Treaties, Relationship between Tax Treaties & Domestic Law , Tax Information Exchange Agreement (TIEA), DTAA Treaty With Argentina – Bare View
Basics of International Taxation
i. Transfer Pricing: Introduction & Concept of Arm’s Length Price; International and Specified Domestic Transaction; Transfer Pricing Methods; Advance Pricing Agreement & Roll Back Provision; Documentation and Return.
ii. Place of Effective Management (POEM) : Concept of POEM; Guidelines of determining POEM.
Income Tax Implication on specified transactions: Slump Sale; Restructuring; Buy Back of shares; Redemption of Preference shares; Issue of shares at Premium; Transfer of shares; Reduction of share Capital; Gifts, cash credits, unexplained money, investments etc.
• Study Material Published by ICSI
• Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)