VIA (Vidarbha Industries Association) Taxation and Corporate Law Forum in association with the Nagpur Branch of WIRC of ICAI conducted a tax awareness program – ‘Making March meaningful’ – at the VIA Hall, Udyog Bhawan, Civil Lines, Nagpur, recently. The intention behind the session was to impart accounting knowledge and enable people to do better tax planning and take precautions while filing returns. The program was also organised keeping in mind the end of the financial year on March 31, 2017 and various compliances which are to be adhered to by March 31.
The speakers at the program were renowned chartered accountants from Nagpur namely Kapil Bahri (Expert for Income Tax), Mahendra Jain (Expert for Sales Tax) and Hemant Rajandekar (Expert for Excise and Service Tax). Along with the speakers, also present at the occasion was Sandeep Jotwani, Chairman, Nagpur Branch of ICAI along with Vice Chairman Umang Agrawal.
Chartered Accountant Kapil Bahri while addressing the gathering said, “Precautions should be taken by everyone while filing income tax returns. The situations this year in March are different as compared to the situations in March 2016 as India is going through a major change with respect to demonetization, emphasis on being a cashless economy and early presentation of budget.” Bahri also stressed upon the importance of checking bank accounts regularly as the unexplained cheque entry can have implication under the Money Laundering Act. He further said that the cash transactions pre and post demonetization should be supported with genuine transaction documents. He then urged people to move towards cash less transactions.
Mahendra Jain and Hemant Rajandekar also spoke about various aspects of the area of their expertise and were heard by the people present with rapt attention.
Pictures by: Juhi Sethi