All India Chartered Accountants Society - Students Council
Announces an Intensive
Income Tax Expert Study Group
from concepts to working knowledge to expertise ……

Date

17th February, 2018 (Saturday)

Venue

Royal Room, The Leela Palace, New Delhi, Africa Avenue, Chanakyapuri, Diplomatic Enclave, New Delhi, Delhi 110023

AGENDA
10.00 am to 10:30 am
Registration and Assembly

ISSUES TO BE DISCUSSED AT INCOME TAX GROUP MEETING
10.30 am to 10:45 am
  • The Concept of Income Tax Study Group
  • Inputs by Members / Participants

SETTLEMENT MECHANISM IN DERIVATIVES
10.00 am to 10:30 am
Critical Issues arising out of Finance Bill 2018

ICDS
Tea with Snacks (12:00 PM to 12:30 PM)
11:45 am to 2:00 pm

  • In terms of Income Computation and Disclosure Standards now mandated by Finance Bill 2018, accounting and tax treatment of
    • Mark to market loss in respect of open position in futures and Options derivatives in securities, Currency and Commodities
    • Premium earned and/or paid on options written with expiry after the year closure
  • Taxation relating to strike off companies
    • Taxation of strike off company itself on income generating assets and in respect of years for which return is not filed – especially in respect of companies whose cases are pending with NCLT/NCLAT for revival or maybe there is a likelihood of such revival on an application by tax department
    • Benami law and Taxation implications in the hands of companies or other entities in which such strike of company may be a:
      • Shareholder or a partner or having substantial interest in any manner, or
      • To whom the strike of company had lent or advanced money or strike off company is otherwise a creditor
      • From whom the strike off company had received some investment or loan or the strike off company is a debtor
  • Road Map for Future meetings


Guidance Note on Accounting for Derivative Contracts

Presentation PPT on
CARO & IFC
Lunch (2:00 PM to 3:00 PM)

For any queries please write to us at aicas.cfo@gmail.com or +91 9711310004

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