200 CAs attend Income Tax seminar on widening of tax payers’ base

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NewZNew (Chandigarh) : The Chandigarh Branch of The institute of Chartered Accountant of India (ICAI) conducted a seminar on Income Tax widening of tax payers’ base besides interaction with Income Tax Department, Chandigarh at ICAI Bhawan, Sector 35 today.

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The ICAI along with the tax department discussed to increase the tax base. More than 200 Chartered Accountants attended the program and shared their valuable views.

In seminar, Smt. Madhu Mahajan, IRS, Principal Commissioner of Income Tax (NWR)-I, Mr. S.D. Jha, IRS, Principal Commissioner of Income Tax (NWR)-II  and Mr. Y.K.Singh, IRS, Commissioner of Income Tax (TDS), Chandigarh, emphasized on the moral obligation of Chartered Accountants in increasing in the tax payer base.

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Smt Mahajan informed that under Taxpayers’ Services Initiatives the IT Department offered online services. In this, there are mainly two websites of the Department for online facilities i.e. www.incometaxindiaefiling.gov.in and www.incometaxindia.gov.in. The tax payers can take help of these websites for e-filing returns of income, downloading important forms, view and download data regarding TDS and tax deposited by them (form 26-AS), finding status of their returns, rectification of mistakes, status of refunds etc. In Aayakar Sewa Kendras (ASK) the Department is providing prompt taxpayers’ services across the country through ASKs. In North West Region (NWR), presently there are 25 ASK Centres. These Centres inter alia provide services like receipt of returns of income, receipt of rectification applications and grievances etc. through computer applications.

Mr. S.D. Jha said that as regards the benefits and ease of e-filing, taxpayers need to now that return filing has been made very easy as a result of the available technology.  Gone are the days when they had to stand in long queues for filing of returns. E-filing has made it possible to file returns from anywhere and at anytime. For the current year all returns where a claim of refund is made need to be mandatorily e-filed. The taxpayers need to know about the benefits of filing their returns. By paying taxes citizens make an important contribution towards nation building. Besides this, paying the correct amount of taxes gives peace of mind. It also facilitates taking bank loans, expansion of business/profession, procurement of visas for foreign travel etc.

He said further , people also need to know that the department is already having very large volume of information pertaining to high value transactions which are made available through the AIR/data collected by CIB/DIT(I&CI). Taxpayers also need to be made awre that w.e.f. 01.01.2016, the scope of mandatory quoting of PAN has been further enlarged and more high value transactions have been prescribed where mandatory quoting of PAN woud be necessary.

Mr. Y.K.Singh said that The TDS deductors also need to be conveyed that they should file the TDS returns in time and also timely deposit the taxes so deducted. Any default is detected by the System and may result in prosecution.

Meanwhile CA Jaswant Dhawan, Chairman OF Chandigarh Branch of ICAI gave his welcome address and spoke out the role of CAs as widely understood and recognized across the globe. CA Parmod Vats, Secretary Chandigarh Branch of ICAI conducted the programme,   CA Raman Seth, former Chairman of Chandigarh Branch of ICAI emphasized the increasing role of department as more friendly towards tax payers.