Published On : Fri, Jan 4th, 2013

VIA & VTPA: Tax Programme on “CHOTI CHOTI BATEI” held

Nagpur News : VIA Tax & Corporate Law Forum and Vidarbha Tax Practitioners Association organized  a programme on “Choti Choti Batei” on 4th January 2013, at VIA Hall from 6 pm to 7.30 pm.

Awareness for the tax laws has become all the more relevant in view of the regular constant changes & amendment carried out very frequently. One need to learn, relearn & unlearn lot many provisions. Basically this programme briefly explained about the normal precautions one should take in regular business from Income Tax, Sales Tax, Service Tax & Excise point of view.

The speaker CA. Kailashji Jogani for Income Tax & Accounting enlighten about TDS aspects, regarding Investments, Sale & Purchase of property, Payment of advance Tax, Accounting procedural aspects, payment of Advance Tax, Transactions from unknown parties, Insurance of property and vehicles. He appealed the businessmen & industrialist to comply with the income tax provision on a regular & timely manner. He highlighted the role of AIR, FIU & CIB in the current scenario. The timely TDS return filing is important now to avoid the penalty and fees, he elaborated. Recording all the financial transactions in the books of accounts enable taxpayer in the course of search & survey operation, he explained. He also appealed to the taxpayer to pay the advance tax and TDS on a timely basis to avoid the harsh action from the department.

CA. Shailendra Jain for Sales Tax, & CA explained about regular checking of emails as normally the communication is done through email only. He advised the masses for updating the database of sales tax department about emails, Cell No.  Addresses. He insisted about the regular follow up of the reply given in response to any notice received from sales tax department. He also highlighted various important procedural aspects, changes in penalty and fees. He has covered about the latest problem faced by the dealer in getting the set off due to non payment of tax by the seller and the precautions and measures the dealer should take to ensure proper set off.

CA Atul Sarda for Service Tax & Excise informed about all the latest changes that has taken place in service tax & excise in a simple and lucid manner. He appealed to the taxpayer to file the return timely even if it is a Nil Return. He insisted on taking the acknowledgment of each and every communication done so as to avoid the penal provision at a later date. He has highlighted about the linking and co-ordination of Service tax & excise with other revenue department like income tax and sales tax. He has duly advised the industrialist to comply with the provision well within time and should avoid last minute rush.

The Programme was largely attended by the public which included Industrialists, CA Students, Entrepreneurs and VIA members.

CA. Ashok Chandak in an opening remark the importance of small changes in the fiscal laws on the Industrialist and businessmen. At the outset, floral welcome of CA. Kailashji Jogani was done by Prafull Doshi, President VIA, floral welcome of CA. Shailendra Jain, was done by Akash Agrawal, Hon. Secretary- VIA & floral welcome of CA Atul Sarda was done by CA Ashok Chandak, Chairman- VIA Tax & Corporate Law Forum. Adv. L.P. Dhunisingani, Secretary –VTPA proposed a formal vote of Thanks. The programme was well conducted by CA. Naresh Jakhotia- Convener- VIA Tax & Corporate Law Forum.