CENTRAL KOLKATA CHARTERED ACCOUNTANTS STUDY CIRCLE-‐EIRC 33, Brabourne Road, 3rd Floor, Kolkata-‐700 001, Ph-‐2242-‐5812, Email:
[email protected], Website: www.cenkolstudy.org
ANNUAL CONFERENCE – 2016
Reform -‐ Perform – Transform ......Spectrum of Opportunities Date: Sat, 23rd July, 2016 || Venue: The Lalit Great Eastern, Kolkata 6 CPE HOURS || REGD. CHARGES Rs.1000/-‐ || FULL DAY 10.00am to 5pm
PROGRAMME 1st Technical Session : 10.00 AM to 1.30 PM Chairman
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Speaker Topics
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Speaker Topic
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CA A C Chakrabortti Chairman of La Opala RG Ltd and Past President of ICAI CA Rajendra Kumar P., Chennai Impact assessment of GST on Industries and Reverse Charge Mechanism under Service Tax CS K Sethuraman, Mumbai Critical issues on Loans & Investment and Related Party Transactions. An overview of NCLT and Rotation of Auditors.
Lunch Break : 1.30 PM to 2.15 PM 2nd Technical Session : 2.15 PM to 4.00 PM Chairman
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Speaker Topic
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Sri S M Surana, Advocate President, Income tax Bar Association, Kolkata CA H. Padamchand Khincha, Bengaluru Provisions of Income Disclosure Scheme & other Cash deterrent measure in the context of eradication of Cash Economy. Application of Section 68 on Capital Gain / Loss in PENNY stocks, share capital vis a vis validity of reopening on the basis of undisclosed assets acquired beyond 7 years and / or SEBI order.
Panel Discussion : 4.00 PM to 5.00 PM Moderator :
CA Mohit Bhuteria and CA Vivek Newatia
Panelist
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Sri S M Surana, CA H. Padamchand Khincha, CA Rajendra Kumar P. Joint Development Agreement w.r.t. Under Construction Flat & other Issues on Real Estate Transactions in context to Income Tax and Service Tax.
Who should Attend: This seminar will provide a good opportunity to Chartered Accountants, Advocates, Tax Professionals CEOs, CFOs, Senior Executives handling Finance and Tax functions, to hear from the experts on the subject and interact with them on various technical and procedural aspects of the subject.
Topics for discussion for Shri H Padamchand Khincha PLUS Panel Discussion Topics Income Disclosure Scheme ( IDS )-2016 : Valuation of immovable property. Valuation of undisclosed bank accounts. Sec 197(c) – Its scope validity & tax / interest/ penalty implications. Section 68/115 BBE verses IDS Valuation of unquoted shares where share are held through multiple layers. Disclosure of bogus share capital raised by a company – share of the company being finally acquired by individuals/ body corporate. Treatment of Benami property in the books of Benamidaar (Property /Loan). Is Benami property required to be registered & stamp duty to be paid – implication of Section 53A. Treatment of undisclosed liabilities for arriving at FMV of asset, where the person owing the liability has also made disclosure. Disclosure in the hands of director where money withdrawal by way of bogus purchases/ fake losses from the company. Share Capital U/S 68 of the IT Act ‘1961 Test of “Human Probabilities” for invoking Section 68 of the IT Act ‘1961 Issue of capital at significant premium with reference to :CIT vs. Sumati Dayal. & CIT vs. Durga Prasad More. JOINT DEVELOPMENT AGREEMENT (JDA ) – Real Estate: Risk of AOP being triggered in case of Lead Developer Company concept under Income tax & Service tax – Land being held by 10 Companies & One company taking role of/ as a Lead Developer. Area sharing arrangements – point of taxation of service tax. Transfer of development rights vis a vis developments agreements Income Tax / Service Tax implications. Subsequent Enhancement in FSI : post completion & handover to resident society – implications under various scenarios.
