Excelsior Correspondent
Jammu, July 13: The J&K Branch of The Institute of Chartered Accountants of India organised a seminar on Union Budget 2019.
CA. Dr. Girish Ahuja (Advisor to Ministry of Finance, Govt of India), CA. Nitin Kanwar & CA. Avinash Gupta were the guest speakers on the occasion.
Jatiender Gupta, Commandant CRPF Satish Kumar Batra also graced the occasion.
In the first technical session, CA. Nitin Kanwar discussed about the provisions and Implications of Union Budget on direct taxes and dwelt upon Section 4, 5 & 9 of the Income Tax Act. He also deliberated on taxation of Non resident Indians.
During the second technical session, CA. Dr. Girish Ahuja while discussing section wise amendments also apprised the members about the various steps taken by Central Government to enhance the monitoring mechanism & gathering information regarding financial transactions from various stakeholders. He said that 360 degree profiling of every assesses is already available with the Central Government & with the help of this information prefilled income tax returns will soon be made available.
He also informed about various incentives given by the Government to individual assesses in the current budget including additional deduction of housing loan interest & interest on loan on purchase of electric vehicle which would reduce their tax liabilities.
In the third and final technical session, CA. Avinash Gupta gave detailed presentation regarding Penalty & Prosecution under Benami law of Income Tax Act.The queries of members were also addressed by the guest speakers.
CA. Shalay Razdan, Chairman of the branch , delivered the inaugural address & CA. Nakul Saraf, Secretary of the Branch conducted the proceedings.
CA. Lalit Kumar Gupta, Vice-Chairman of the branch presented the formal vote of thanks.
Treasurer of the branch CA. Vinay Jamwal and JKCASA- Chairman CA. Arvind Dev Jamwal along with number of chartered accountants were also present at the occasion.
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