Launching Online Refresher Course – ‘Deep Dive into Income Taxes Standard – Ind AS 12’ organized by the Ind AS Implementation Committee of ICAI

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Please find the text of the Launching Online Refresher Course – ‘Deep Dive into Income Taxes Standard – Ind AS 12’ organized by the Ind AS Implementation Committee of ICAI notification below –


IndAS Implementation Committee
9th February 2022
Launching Online Refresher Course – ‘Deep Dive into Income Taxes Standard – Ind AS 12’
Organized by the Ind AS Implementation Committee of ICAI
The Ind AS Implementation Committee of ICAI is pleased to announce the launch of an online refresher course – ‘Deep Dive into Income Taxes Standard – Ind AS 12’. For registration, kindly visit the link(s) below: –

https://learning.icai.org/committee/asb/indas-12/

Total sessions – 5 || Session Duration – 3 hours per session (includes session break as decided by the faculty).
This course is for: –

Members who have already completed or are currently undergoing the ‘Certificate Course on Indian Accounting Standards (Ind AS)’.

Members who have experience in Ind AS and would like to have some more understanding on the topic.

Members who would like to quench their intellectual curiosity on Ind AS.

Session schedule, faculty details & timings:

DayTopicDateTimeFaculty Name
Day 1• Prelude to Ind-AS 12 – covering (a) objectives,  (b) scope and

(c) key definitions under Ind-AS 12

• Understand the differences between Accounting Profit vs

Book Profit

• Recognition of Current Tax Assets and Liabilities

• Measurement of Current Tax Assets and Liabilities (including tax rate to be used)

• Presentation of Current Tax Assets and Liabilities

• Offsetting current tax assets and current tax liabilities

• Concept of Tax Base

•  How to determine Tax Base for assets and liabilities (with

case studies)

• Concept of Temporary Difference (with case study)

• Examples and Case studies
5th March 2022 (Saturday)10 am to 1 pm (IST)CA. Amit Jain
Day 2• Basic principles underlying Deferred Tax

• Re-cap of Temporary Differences

• Types of Temporary Differences – Taxable Temporary Difference & Deductible Temporary Differences (with case studies)

• Recognition of Deferred Tax Assets and Liabilities

• Measurement of Deferred Tax Assets and Liabilities

(including tax rate to be used)

• Presentation of Deferred Tax Assets and Liabilities

• Exceptions from recognition rules (with case study)

• Treatment of Unused tax losses and unused tax credits (with

case study)

• Re-assessment of unrecognized DTA

• Offsetting deferred tax assets and current tax liabilities

• Examples and Case studies
6th March 2022 (Sunday)10 am to 1 pm (IST)CA. Anjani Khetan
Day 3• Practical Application Issues ….

(a) Current and Deferred Tax arising from share-based payment transactions

(b) Deferred Tax on pension liabilities / (assets)

(c) Deferred Tax arising from a Business Combination

(d) DTA / DTL on Investments in subsidiaries, associates and joint venture

(e) Deferred Tax impact on Compound Financial Instruments

(f) Deferred Tax during 100% Tax Holiday Period

• Impact of change in tax status of an entity or its

shareholders

• Tax Rate Reconciliation

• Examples and Case studies
12th March 2022 (Saturday)10 am to 1 pm (IST)CA. Anjani Khetan
Day 4• Tax impact of Ind-AS 12 on Financial Statements (including Book Profits)

• Discussion on ICDSs and key areas of divergence between

ICDS and the relevant Ind-AS standard

• Interplay between Ind-AS and Income Tax (including impact of Ind-AS on computation of MAT)

• Examples and Case studies
13th March 2022 (Sunday)10 am to 1 pm (IST)CA. Achal Jain
Day 5• Appendix C to Ind-AS 12 (dealing with uncertainty over income tax treatment) – with Case Studies

• Key presentation and disclosure requirements in Ind-AS 12

• Key Differences between Ind AS 12, IFRS (viz. IAS 12 and related literature) and US GAAP (ASC Topic 740)

• Illustrations and Case studies
20th March 2022 (Sunday)10 am to 1 pm (IST)CA. Harit Mankad

CPE – 15 Structured || Cost – Rs. 1200 + 18% GST (i.e., Rs. 1416/-).

It may be noted that physical copies of the books WILL NOT be provided with the course. PPTs and recorded sessions (post completion of LIVE sessions) shall be made available via the Digital Learning Hub (learning.icai.org) of ICAI

Registration will be on a “first-come, first-serve basis”. In case a refund/admission cancellation request has been received from the member for any reason, 10% of the gross fee paid (inclusive of GST) will be deducted as per norms of ICAI. No refund request will be entertained after 4th March 2022. In case, the batch has been cancelled by the Committee due to unavoidable circumstances, full fees will be refunded to the member by the Committee. In case of any query, kindly email [email protected]

With Warm Regards,
Chairman, Ind AS Implementation Committee

Official Link of Launching Online Refresher Course – ‘Deep Dive into Income Taxes Standard – Ind AS 12’ organized by the Ind AS Implementation Committee of ICAI. notification can be accessed from below –

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https://resource.cdn.icai.org/69185indas55299.pdf

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Launching Online Refresher Course - 'Deep Dive into Income Taxes Standard - Ind AS 12' organized by the Ind AS Implementation Committee of ICAI 1

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