The Essentials of Income Tax and Preparation of Income Tax Return (ITR)

About the Seminar


It is the duty of almost every taxpayer to file Income Tax Return (ITR) and Financial Statements (FS). We, however, should exercise caution in filing the ITR and FS since several deficiency tax assessment or penalties arose from just carelessly indicating therein the incorrect amount or words or from non-compliance with the required regulations.
In addition, the BIR has the authority to audit all internal revenue taxes and majority of the findings on deficiency taxes came from income tax. The rule on Income Tax is very complicated and involves several technicalities and thus, requires extensive study and research.
Accordingly, it is imperative to know, at least, the basic laws, rules and regulations regularly used and applied by the BIR officials in the preparation of ITR and investigation of income tax so that a proper defense can be made in refuting their findings and avoid or minimize future income tax exposure.


• To know the basic principles of Income Tax Laws
• To know the meaning, kinds, and requisites of Gross Income
• To learn the conditions or rules on the deductibility of Business Expense
• To know the nature, rules and effect of Minimum Corporate Income Tax (MCIT)
• To know the nature, rules and consequences of Improperly Accumulated Earnings Tax (IAET)
• To know the rules in filing and preparation of ITR
• To know the attachments in filing ITR

Who Should Participate

• Business Owners (Single Proprietor or Stockholders)
• Business Managers and other employees
• Accountants (Whether employee or practitioner)
• Others who want to know about Income Tax and latest BIR Issuances

Key Topics

I. Basic concepts of Income Tax
a. Definition
b. Types of Income Tax
c. Sources of Income Tax Laws
II. Types of Taxpayers
a. Individual
b. Corporation
III. Income Tax
a. Gross Income
b. Allowable Deductions
c. Conditions/Limitations for deductibility of Expenses
1. Representation Expense
2. Interest Expense
3. Taxes
4. Losses
5. Net Operating Loss Carry Over (NOLCO)
6. Bad Debts Expense
7. Depreciation Expense
8. Pension Contributions
9. Donations
10. Research and Development Expense
d. Optional Standard Deductions
a. When a corporation becomes subject to MCIT
b. Computation of MCIT
d. Corporations subject to MCIT
e. Corporations exempt to MCIT
a. Nature
b. Corporation subject to IAET
c. Reasonable needs of Business
d. Computation of IAET
VI. Rules on Filing ITR
a. EFPS and eBIR Forms
b. Classes of ITR
c. Time of Filing
d. Place of Filing
e. Penalties for Late Filing and Payment
VII. General Instructions in filling up ITR/Walk-through in filling up ITR (1702)
VIII. List of Attachments to the ITR
a. Enumeration of the attachments
b. Explanation of each attachment

Schedule: Click to view BusinessCoach Seminar Schedule »


9:00 am – 4:00 pm


Unit 201 Richbelt Tower, 17 Annapolis St., Greenhills, San Juan City, Metro Manila

 The Essentials of Income Tax and Preparation of Income Tax Return

Registration Details

Seminar Fee

Php 3,000.00 per person (inclusive of snacks, lunch, seminar kit, handouts, certificate of attendance)


10% Discount if FULL AMOUNT is paid at least five (5) banking days before the event.


Please call to register, or you may download our registration form. Kindly fill-out, and send to us through fax (727.88.60) or email. You will receive a confirmation within 48 hours.

Mode of Payment

  • Deposit payment at Banco de Oro, Savings Account Name: BusinessCoach, Inc. Then kindly fax deposit slip (indicate name of participant and seminar title) to confirm reservation.
  • On-site payment (CASH only)
  • Company checks are accepted, provided that they are received at least five (5) banking days before the event.

Cancellation by Attendee

Registrant may refund amount paid, with less 30% processing charge from the LISTED AMOUNT within 30 days, or opt to use the payment for a seminar of equal value within 60 days. Cancellation must be done at least 2 days before the event. Non-appearance or failure to inform us of cancellation will result to forfeiture of full amount paid.

Cancellation by BusinessCoach, Inc.

Registrant may refund full amount paid within 30 days, or may opt to use the payment for a seminar of equal value within sixty days of cancellation.

Refund Policy

Payment may be refunded upon presentation of the original copy of bank deposit slip and a valid ID. Cash refund is strictly implemented, and may be availed only at the BusinessCoach, Inc. office in San Juan City, Metro Manila. BusinessCoach, Inc. does not deposit refunds.


Schedule may change without prior notice. Please call to confirm. BusinessCoach, Inc. is not liable for any expense incurred by seminar registrant resulting from cancellation of any of our events.

Contact Details

Contact Numbers

Please call (632) 727.56.28, (632) 225.66.16, or (632) 727.88.60
or call/text mobile numbers 0915.205.0133 / 0908.342.3162 / 0926.622.0768 / 0933.584.7266


For other inquiries, you may also leave a message in our contact form »

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