NE BUSINESS BUREAU
AHMEDABAD, MAR 5
Gujarat Principal Chief Commissioner of Income Tax and DGIT (Investigation) Amit Jain on Friday said the Direct Tax dispute resolution scheme Vivad se Vishwas has helped to settle cases faster and a win-win for both the taxpayers and the government.
Jain was speaking at the launch ceremony of the second edition of the two-day Tax Conclave organised by the Income Tax Bar Association and All Gujarat Federation of Tax Consultants here on Friday.
The scheme was introduced with the objective to reduce pending income tax litigation, generate timely revenue for the Government, and benefit taxpayers by providing them peace of mind, certainty, and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process, Jain added.
On the occasion, he addressed the august gathering and put forward the long-term vision of the Income-tax Department. He also admitted the fact difficulties faced by the members or tax professionals concerning the faceless assessment and other issues.
Speaking with the media, All Gujarat Federation of Tax Consultants’ President Bharat L Sheth, the Income Tax Bar Association president Ashutosh Thakkar, and Conclave Chairman Divesh Shah said, “The main objective of the conclave is to provide a strong platform to the members of both organizations for networking, knowledge sharing, dialogue and deliberation. Many eminent speakers, industry leaders and experts across the country are participating in this conclave. They will discuss various issues on income-tax, GST.”
About 250 delegates from all over Gujarat have been taking part in this conclave owing to COVID constraints. The two-day deliberations will be telecast on youtube for its wider reach, the trio added.
On the first day of the conclave, a technical session was addressed by the learned faculty and Guruji of taxation Dr. CA Girish Ahuja. He highlighted recent amendments and important issues under the Income Tax Act in a very lucid way. He discussed in detail about the amendments in the relation to the provisions Trust as applicable in Income Tax and explained in detail about the faceless assessment and how to handle the same by improving your drafting and communication skills.
The second Technical Session was addressed by CA Jatin Christopher. He addressed notices issued under GST and how taxpayers should respond to the notices. Brain Trust on Direct Tax successfully handled by Brain Trustees. They discussed in detail about the various burning issues in relation to the Income Tax. Third Technical Session of the Conclave addressed by senior advocate Tushar Hemani. He addressed in relation to the ways of drafting and pleading in the era of Faceless Assessments, Appeals and Faceless ITAT. Tax conclave followed strictly the guidelines of COVID-19 and participants complied with COVID-19 guidelines.
