Income Tax Deptt, ICAI J&K branch organise outreach programme

Srinagar, Nov 5: The Government of India's Income Tax Department, in collaboration with the Jammu and Kashmir branch of ICAI, organised an outreach programme on Third-Party Compliance Management and the E-Verification Scheme 2021.

Principal Director General of Income Tax, I&CI, New Delhi, Sunita Bainsla attended the event as the chief guest.

Bainsla addressed the audience on third-party compliance management and invited suggestions from the participants.

She said that the use of AI had transformed the way data was collected and analysed and emphasised the importance of professionals in bridging the gap between the Income Tax Department and taxpayers.

Bainsla also highlighted the crucial role of reporting entities in data collection.

Chairman, CA Vineet Kohli delivered the welcome address, emphasising the significance of the e-verification scheme and compliance by reporting entities.

He said that the compliances had increased manifold and that the nation’s economy would grow when the stakeholders report the correct financial information to the department.

Kohli said that the scheme was a revolutionary step for the Income Tax Department.

Secretary, CA Priya Seht conducted the proceedings and underscored the importance of the scheme.

Deputy Director of Income Tax Anmol Deep Singh deliberated on the topic and Director of Income Tax, I&CI, Chandigarh, Anshuman Sharma presented the formal vote of thanks.

The event was attended by Chairman J&K Grameen Bank, Sanjay Gupta; President of Bar Association, Vikas Chopra; members of J&K Bank, Sub-Registrars, KAS officers, Income Tax officers, members of the Bar Association, CA Sourav Pargal, Vice Chairman, CA Vikas Purdhani and CA Ayush Sawhney, Executive Members, and other senior Chartered Accountants.