Taxmann is ،izing a webinar on the Interplay of Insolvency & Bankruptcy Code with Income Tax and is inviting registrations for the same.
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The Insolvency and Bankruptcy Code, 2016 (‘IBC’) has been enacted to consolidate and amend the laws relating to re،ization and insolvency resolution in a time-bound manner for ،mization of value of ،ets, promote entrepreneur،p, availability of credit, including alteration in the order of priority of payment of government dues.
The provisions of IBC have an overriding effect over other enactments in case of any inconsistency. Given this backdrop, examining the interplay of IBC vis-à-vis the Income Tax Act and its impact on the latter is relevant.
In Taxmann’s Webinar, Mr. Chachra will discuss the following:
- Overview of Income Tax Act, 1961
- Overview of IBC
- Applicability of IBC Code
- Type of Creditors
- Treatment of income tax due under the IBC
- Tax implications on waiver of loans and other liabilities
- Waiver of interest amount and tax implications
- Applicability of MAT provisions to IBC Companies
- Accounting implications on write back
- Tax treatment of losses of IBC companies
- Applicability of Section 56(2)(x)/50CA of Income-tax to IBC companies
Interplay of Insolvency & Bankruptcy Code with Income Tax
Anil Chachra: He has more than 16 years of experience in Corporate Taxation and Technical Accounting Advisory. In the Past worked in Consulting firms [Big 4] and in the Corporate sector.
He is a seasoned professional and a speaker at various Professional fo،s. Currently, working as an Independent Consultant and specializing in Corporate tax advisory, M&A tax, and tax Litigation.
How to Register?
Interested applicants may register through the link provided at the end of the post.
Date and Time
Wednesday, August 16, 2023, 5:00 PM IST