‘Role of Bar Association vital to raise tax awareness’

Tribune News Service

Ludhiana, March 26

The Income Tax Department Ludhiana held a meeting with the various Tax Bar Associations today. During the meeting BK Jha, Chief Commissioner of Income Tax complimented the bar associations in playing a positive role in compliance to tax laws.

Jha highlighted that revenue was the backbone of administration and direct taxes played a vital role in government expenditure on essential sectors such as education, public health, infrastructure and security of the nation.

He underscored that there had been substantial increase in tax payer base and buoyancy in various sectors of the economy, however consequent buoyancy in tax collection is yet to be achieved.

Jha sought the assistance of members of bar associations in increasing tax awareness especially with regard to the duties of taxpayer in contributing towards nation building and increasing their tax payments.

He said many traders-taxpayers who wished to avail the benefit of Section 44AD of the Income tax Act, might still not be aware of the consequences of not paying all their advance tax before the end of 31st March.

It was also highlighted that though the date for making payment of advance tax was 15th March, the taxpayers can still make payment of advance tax before the end of 31st March.

Jha informed the gathering that the department is already collaborating with the GST department to gather information on persons not paying their due taxes despite having huge turnovers. Similarly, data on large transactions that had been received by the Department was also being analysed.

The meeting assumes significance in view of the fact that income tax department is exploring all possible avenues to achieve it's budget targets and is seeking to maximise voluntary compliance through a large number of outreach programs to educate and assist the taxpayers to deposit their due taxes before the end of March, while keeping a watch on persons not filing returns/payingtaxes.

The Bar associations suggested various positive steps to streamline the system and taxpayer services and assured of their full cooperation to the department in its efforts.

In this meeting, Advocate Jatinder Khurana, Advocate Ashok Juneja and members of various bar associations were also present.

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