Basics of Taxation & Financial Compliance

Categories: Corporate Training

About Course

This course provides a foundational understanding of taxation principles and financial compliance requirements for individuals, businesses, and organizations. Participants will learn the key concepts, laws, and practices involved in income tax, GST/VAT, corporate tax, and other statutory obligations. The course also covers compliance procedures, record-keeping standards, and filing requirements as mandated by regulatory authorities.

Through a blend of theoretical concepts and practical case studies, learners will gain the skills to interpret tax regulations, prepare basic returns, and ensure adherence to financial compliance frameworks. The program is designed for students, entrepreneurs, accounting professionals, and anyone seeking to strengthen their knowledge of taxation and compliance essentials.

Understand the fundamentals of taxation and its role in the economy.
Differentiate between direct and indirect taxes and their applications.
Compute basic income tax for individuals and businesses.
Understand the structure and functioning of GST, including registration and returns.
Gain an overview of corporate taxation and related compliance.
Prepare and file tax returns using standard procedures.
Maintain proper financial records for statutory compliance.
Identify key deadlines and compliance requirements for individuals and businesses.
Avoid common compliance mistakes and understand penalties.
Apply ethical and best practices in taxation and financial reporting.

Course Content

Module 1: Introduction to Taxation
Meaning, objectives, and importance of taxation History and evolution of tax systems Types of taxes – direct vs. indirect Role of taxation in the economy

Module 2: Overview of Direct Taxes
Basics of income tax Understanding tax slabs and rates Residential status and scope of total income Exemptions, deductions, and rebates Tax planning vs. tax evasion vs. tax avoidance

Module 3: Overview of Indirect Taxes
Introduction to Goods & Services Tax (GST) Structure: CGST, SGST, IGST Registration process and compliance requirements Input tax credit mechanism Filing GST returns

Module 4: Corporate Taxation
Basics of corporate tax laws Taxable income for companies Minimum Alternate Tax (MAT) Dividend distribution tax (if applicable) Corporate compliance calendar

Module 5: Financial Compliance Framework
Meaning and scope of financial compliance Statutory requirements for businesses Regulatory authorities and their roles (Income Tax Dept., GST Dept., MCA, etc.) Compliance calendars and deadlines

Module 6: Tax Return Preparation & Filing
Process of preparing income tax returns (ITR) E-filing of returns Common mistakes and how to avoid them Rectifications, revisions, and appeals

Module 7: Record-Keeping & Documentation
Importance of proper financial records Mandatory registers and books of accounts Digital record-keeping and document retention periods

Module 8: Penalties, Offences & Dispute Resolution
Common penalties under Income Tax and GST Interest liabilities for late payment Dispute resolution mechanisms Recent case laws and rulings

Basics of Taxation & Financial Compliance

About Course

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What Will You Learn?

Course Content

Module 1: Introduction to Taxation
Meaning, objectives, and importance of taxation History and evolution of tax systems Types of taxes – direct vs. indirect Role of taxation in the economy

Module 2: Overview of Direct Taxes
Basics of income tax Understanding tax slabs and rates Residential status and scope of total income Exemptions, deductions, and rebates Tax planning vs. tax evasion vs. tax avoidance

Module 3: Overview of Indirect Taxes
Introduction to Goods & Services Tax (GST) Structure: CGST, SGST, IGST Registration process and compliance requirements Input tax credit mechanism Filing GST returns

Module 4: Corporate Taxation
Basics of corporate tax laws Taxable income for companies Minimum Alternate Tax (MAT) Dividend distribution tax (if applicable) Corporate compliance calendar

Module 5: Financial Compliance Framework
Meaning and scope of financial compliance Statutory requirements for businesses Regulatory authorities and their roles (Income Tax Dept., GST Dept., MCA, etc.) Compliance calendars and deadlines

Module 6: Tax Return Preparation & Filing
Process of preparing income tax returns (ITR) E-filing of returns Common mistakes and how to avoid them Rectifications, revisions, and appeals

Module 7: Record-Keeping & Documentation
Importance of proper financial records Mandatory registers and books of accounts Digital record-keeping and document retention periods

Module 8: Penalties, Offences & Dispute Resolution
Common penalties under Income Tax and GST Interest liabilities for late payment Dispute resolution mechanisms Recent case laws and rulings

Module 9: Ethical & Practical Considerations
Professional ethics in taxation Balancing compliance with business needs Best practices for smooth audits

Module 10: Case Studies & Practical Exercises
Real-world tax computation examples GST filing simulations Compliance checklist preparation

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About Course

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What Will You Learn?

Course Content

Module 1: Introduction to Taxation Meaning, objectives, and importance of taxation History and evolution of tax systems Types of taxes – direct vs. indirect Role of taxation in the economy

Module 2: Overview of Direct Taxes Basics of income tax Understanding tax slabs and rates Residential status and scope of total income Exemptions, deductions, and rebates Tax planning vs. tax evasion vs. tax avoidance

Module 3: Overview of Indirect Taxes Introduction to Goods & Services Tax (GST) Structure: CGST, SGST, IGST Registration process and compliance requirements Input tax credit mechanism Filing GST returns

Module 4: Corporate Taxation Basics of corporate tax laws Taxable income for companies Minimum Alternate Tax (MAT) Dividend distribution tax (if applicable) Corporate compliance calendar

Module 5: Financial Compliance Framework Meaning and scope of financial compliance Statutory requirements for businesses Regulatory authorities and their roles (Income Tax Dept., GST Dept., MCA, etc.) Compliance calendars and deadlines

Module 6: Tax Return Preparation & Filing Process of preparing income tax returns (ITR) E-filing of returns Common mistakes and how to avoid them Rectifications, revisions, and appeals

Module 7: Record-Keeping & Documentation Importance of proper financial records Mandatory registers and books of accounts Digital record-keeping and document retention periods

Module 8: Penalties, Offences & Dispute Resolution Common penalties under Income Tax and GST Interest liabilities for late payment Dispute resolution mechanisms Recent case laws and rulings

Module 9: Ethical & Practical Considerations Professional ethics in taxation Balancing compliance with business needs Best practices for smooth audits

Module 10: Case Studies & Practical Exercises Real-world tax computation examples GST filing simulations Compliance checklist preparation

Trending Courses

Trending College Workshops

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Categories

Module 1: Introduction to Taxation
Meaning, objectives, and importance of taxation History and evolution of tax systems Types of taxes – direct vs. indirect Role of taxation in the economy

Module 2: Overview of Direct Taxes
Basics of income tax Understanding tax slabs and rates Residential status and scope of total income Exemptions, deductions, and rebates Tax planning vs. tax evasion vs. tax avoidance

Module 3: Overview of Indirect Taxes
Introduction to Goods & Services Tax (GST) Structure: CGST, SGST, IGST Registration process and compliance requirements Input tax credit mechanism Filing GST returns

Module 4: Corporate Taxation
Basics of corporate tax laws Taxable income for companies Minimum Alternate Tax (MAT) Dividend distribution tax (if applicable) Corporate compliance calendar

Module 5: Financial Compliance Framework
Meaning and scope of financial compliance Statutory requirements for businesses Regulatory authorities and their roles (Income Tax Dept., GST Dept., MCA, etc.) Compliance calendars and deadlines

Module 6: Tax Return Preparation & Filing
Process of preparing income tax returns (ITR) E-filing of returns Common mistakes and how to avoid them Rectifications, revisions, and appeals

Module 7: Record-Keeping & Documentation
Importance of proper financial records Mandatory registers and books of accounts Digital record-keeping and document retention periods

Module 8: Penalties, Offences & Dispute Resolution
Common penalties under Income Tax and GST Interest liabilities for late payment Dispute resolution mechanisms Recent case laws and rulings

Module 9: Ethical & Practical Considerations
Professional ethics in taxation Balancing compliance with business needs Best practices for smooth audits

Module 10: Case Studies & Practical Exercises
Real-world tax computation examples GST filing simulations Compliance checklist preparation