New Income-Tax rules applicable to charitable institutions: Sharma

Source: The Hitavada      Date: 05 Sep 2018 09:52:47



Business Bureau

TEAM CAIT Nagpur in association with Income Tax Department has organised a programme to spread awareness amongst charitable institutions about Income-Tax provisions.

The programme was held at meeting hall of CAIT Nagpur. The programme was chaired by Nahak Joint Commissioner of Income-Tax, Nagpur. Delivering his welcome speech advocate Sanjay Thakar thanked Income-Tax Department for organising such programme.

He said, “In past, we have to go to the Income-Tax Department for any work and now the Department is coming forward to meet the taxpayer. This is a good and positive change.”

In his presentation, S M V Sharma Deputy Commissioner of Income-Tax advised charitable institution to avoid certain mistakes. His presentation was based on actual case studies. S. Ghoongrood, Income-Tax Officer by way of power point presentation gave details about registration, audit, return filing etc. of trust. Pranay Kumar, Income-Tax Officer explained provisions of TDS applicable to charitable institution. Summing up the presentation and question answer session B C Bhartia, National President of Confederation of All India Traders (CAIT), New Delhi said that charitable institution should perform their activities keeping in mind, statutory provisions. He said, “This meeting may be a warning signal from the Department about the future strict action.” He told trustees of charitable institution to take benefit of such programmes so that they can avoid future action from the Department.

Vote of thanks was proposed by Kishore Dharashivkar. The programme was conducted by Nikhilesh Thakar. Prominently present were from Radhakrishan Hospital Mathuraprasad Goyal, Govind Poddar, Shankarlal Jalan from Shankarlal Jalan Foundation, Kutch Patidar Samar President Narsihbhai Patel, from Viash Lad Vanik Samaj Kamlesh Lad, from Natiotnal Mahila Kalyan Samiti Sapna Talreja, from Nagpur Gujrati Bramh Samaj Ashok Trivedi, R D Mehta, Prabhakar Deshmukh, from Halar Memon Jamat Farooque Akbani, from Bhakti Kajans Family Maheshkumar Kukreja, from Jal Foundation Parsid Jal, R D Parekh, A K Soni, Ashif Akbani, Ramesh Umate, Ankit Rathi, advocate J S Badani, Jagdish Gorsia, Jagdish Gupta, Viral Kothari, Krinadas Lad and others.