Forum: Taxation & Corporate Law Forum
Speaker: By renowned & Prominent Tax Professionals of the city namely CA. Kailashji Jogani (Income Tax), CA. Shailendra Jain (Sales Tax), & CA Atul Sarda (Service Tax & Excise).
Initiating the presentation, CA Kailash Jognai asked the tax payer to be very serious in keeping the records and books of accounts. He appealed the assessee to ensure the timely filing of TDS return, Income Tax Return & Advance Tax Payment. He also covered the penal provision for not complying with the various provision of Income Tax. He also cautioned about various other laws like money laundering, IPC that could have repercussion after the income tax survey. CA Shailendra Jain said advised the gathering to start following up for declarations in Form ‘C’, E-1, E-2, H, F, I as soon as the quarter end instead of waiting till the end of the year or start of the VAT Audit. CA. Atul Sarda, said in Service Tax & Excise presentation that Payment should be invariably made within due date else assessee is liable for interest and penalty both which is @ 320% p.a. Old registrations if not in use should be cancelled immediately. The status of ER-1, Dealer and ST-3 Returns uploaded online & should be checked on next day, whether “Filed” or some error is there. Always reconcile the annual figures shown in ST-3 Returns with the P&L A/c and Form 26AS, he opined. CA. Naresh Jakhotia welcomed the guest and briefed about the concept of the programme and the importance of the small mistake in the tax laws. Shri Omprakash Bagdia welcomed the guest and the speakers which evoked huge response. Shri O S Bagdia, informed this type of programme was very informative, important for industries and participants were very eager to attend this and programme was appreciated by all.
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