Interactive session organized
Excelsior Correspondent
SRINAGAR, Mar 12: Income Tax Department today organized an interactive session on Advance Tax and Grievance Redressal with top tax payers of J&K, hotel associations, tour & travel operators, Shikara & House Boat Association, Chamber of Commerce and tax professionals-Chartered Accountants, Advocates & Tax Consultants.
The event was attended by around 50 taxpayers and tax professionals including R A Punjabi (Former President KCCI), Farooq Ahmad (Burza group), Dildar Ahmad (President PHARO group), Abdul Gafoor (Kashmir Art Centre), Bilal Ahmad Dar (owner of Pick & Choose), Manzoor Seerat Ali Shah (owner of Ali Shah carpets), Chartered Accountants & Advocates namely Altaf, Amir Jan, Bashir Ahmad, Manjoor Ahmad Malik, Mustaq Mir. The programme was chaired by M P Singh, Pr. Commissioner of Income Tax, J&K and Ladakh.
Shakil Ahmad Ganie, Dy Commissioner of Income Tax- Srinagar welcomed the taxpayers and tax professionals and highlighted the importance of paying Advance Tax for both taxpayers and the Government.
Rahul Padha, Joint Commissioner of Income Tax, Srinagar, while speaking on the occasion, said that for the past 2-3 years the valley has seen an unprecedented rise in number of tourists visiting Kashmir. Due to continuous inflow of tourists, almost all sectors have flourished which has resulted in generation of employment along with significant increase in the earning capacity of natives of J&K particularly the taxpayers from business fraternity.
“However, the growth seen in economy and earning capacity of people is not reflected in form of tax payments from the taxpayers particularly the Advance Tax payments”, he said, adding “with the boost in local economy, the department was expecting an increase in number of tax payers and tax collection in form of Advance Tax. However, against an anticipated rise the trend has shown a downward slope”.
M P Singh, Pr Commissioner of Income Tax, J&K and Ladakh while addressing the gathering emphasized that the department through its Risk Management Strategy is closely monitoring the taxpayers who despite having substantial tax liability resort to paying Self Assessment Tax (SAT) while filing their ITR rather than depositing Advance Tax as prescribed by the IT Act.
He cautioned that on account of non compliance from taxpayers with regard to timely and accurately payment of Advance Taxes, department will be forced to initiate action as per relevant provisions of Income Tax Act. He further highlighted that the department over a period of time has noticed that majority of the assessees in J&K do not comply to the notices and other communications issued by the IT Department in their cases.
“Due to non responsive nature of the assessees, the Assessing Officers are constrained to make additions on the basis of material information available with them which results in creation of huge demands in their cases by the faceless assessment units. Subsequently, when the assessees do not deposit the demand created on the basis of ex-parte assessments in their cases, the IT Department as a last resort, gets the bank accounts of the assessee, attached”, he further said and advised that the assessees should update their email Ids and mobile numbers on Income Tax e-filing portal so that they receive communications from department and respond timely.
He further stressed that whenever the assessees receive any notice or any other communication from the department, they should immediately contact their nearest Income Tax office or take help of tax professionals and act accordingly.
Later, the grievances of the taxpayers on different issues such as outstanding demands, refunds, rectifications, appeal etc were taken up for discussion and duly addressed by the officers of the department.
The taxpayers were assured that the department is ever willing to help and guide them in their tax matters and in return expects them to pay their taxes honestly and timely and play their part in progress of the nation.
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