Withholding Taxes

Withholding Taxes

 

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About The Event

 

INTRODUCTION

Several corporate houses in India (MNCs as well as Indian Groups) make large payments to foreign entities. Determining TDS (also known as withholding tax or WHT) implications on these payments is critical, before making remittance outside India. The Income tax department has put a lot of energy in streamlining and ensuring compliance of withholding tax provisions as a result corporates/assesses keep on receiving the default notices on regular intervals. Hence, Indian Businesses (domestic as well MNCs) are required have a greater focus on compliance and managing the internal process is becoming critical.

 

Astrazure’s workshop on Withholding Taxes will enable corporate executives and practicing professionals to update their knowledge not only to follow them but also to avoid litigation and provide quality services to their client. This will also enable them to focus on growth of their business rather than indulging into avoidable complications.

 

Benefits of attending:

  1. Understand the key technicalities and compliances related to Withholding taxes
  2. Understand challenges and risks in tax on foreign remittances
  3. Meet and exchange views with the senior decision makers and consultants
  4. Understand the recent changes in law in context of WHT

 

AGENDA:

 

Module I: Determination of Withholding Taxes

  1. For payment to NRIs and foreign companies (International Transactions)
  2. For payment to residents (Domestic Transactions)
  3. Exclusions from withholding taxes

 

Module II: 

  1. Recent Judicial pronouncements and case laws of Withholding Taxes
  2. Double Taxation Avoidance Agreements (DTAA)

                - Benefits of DTAA

                - Articles that you need to know to reduce your pain areas

                - Compliances to be taken care of under DTAA

 

Module III: Royalty and Fees for Technical Services (FTS)

  1. Applicable Laws - The income Tax Act 1961 vs the DTAA
  2. Meaning of Royalty and FTS under Income Tax Act
  3. Widening scope of Royalty and FTS
  4. Taxation of Royalty and FTS under Income Tax Act
  5. Important concepts and clauses related to Royalty and FTS

 

Module IV: Foreign Payment Management

  1. Contract drafting and documentation
  2. Internal Processes between business functions on foreign tax payments
  3. Compliances for foreign Group companies earning income in India
  4. Managing Service tax, customs and Transfer Pricing on royalty and FTS payments
  5. Obtaining lower TDS / NIL TDS certificate

 

WORKSHOP EXPERTS

1- Krishan Malhotra - Head Taxation, Northern India, Amarchand & Mangaldas & Suresh A. Shroff & Co.


Mr. Krishan Malhotra is the Head of Tax, Northern Region, at Amarchand & Mangaldas & Suresh A. Shroff & Co. With an illustrious career spanning over 25 years, he has extensive experience in the areas of Direct Tax (Domestic and International), Cross Border Taxation including Alternate Dispute Resolution and Business Advisory Services.He has advised companies on issues pertaining to Joint Venture/Collaboration Agreements, Commercial Contracts, from Tax, FEMA and FIPB perspective.

He has worked closely with the Ministry of Finance, advising the Central Board of Direct Taxes and formulating the country’s tax and regulatory policies. He is also currently the Regional Council Member of Indo-American Chamber of Commerce, and a member of FICCI, the PHD Chamber of Commerce and ASSOCHAM.

 

2- Puneet Gupta - Associate Director, BMR & Associates

Puneet Gupta is an Associate Director in BMR & Associates LLP – Corporate and International tax Practice.  He has over 7 years of experience in tax consulting.  His areas of expertise include cross-border tax issues, corporate tax advisory and litigation, structuring of large scale infrastructure contracts, conceptualizing business/operating models and implementation of the same.  He has managed a diverse mix of domestic and international companies in various industries including oil and gas, infrastructure, construction, IT and telecom.

 

He has assisted a number of foreign clients on devising entry strategy into India and/or expansion of their Indian operations to new businesses.  He has also been actively involved in various other transactions such as forming joint ventures, diversifying into new businesses and planning exit strategies.

 

He is a Chartered Accountant by qualification and holds a bachelors degree in Commerce from Delhi University.
 

3- Parul Jain - Partner, BMR & Associates

 

4- Navin Jain - Head Taxation, Cairn India 

 

For more information please contact Biplab Sengupta on  8130826342 / Aneesh Garg on 9871919293 or write us at trainings@astrazure.com 

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