The two day National Tax Conference (NTC) on subject of ‘New Tax Laws – Impact and Promotion’, organized by the All India Federation of Tax Practitioners (AIFTP), Eastern Zone along with Jharkhand Income Tax Bar Association and Jharkhand Commercial Tax Bar Association concluded on Sunday.
Speaking at a technical session of the conference on Prohibition of Benami Property Transaction Act under Income Tax 1961, renowned Chartered Accountant from Delhi, Girish Ahuja highlighted the basics of the law and explained the definitions with its risk factors.
“A person has to pay utmost attention while purchasing a property otherwise one will have to face dire results. The agreement deed is very important while purchasing any property but many people not understands its value. A person must know the law of Benami Property before purchasing a property,” he said.
Ahuja also gave answers to many queries in the open session. In another technical session of the conference on Audit and Annual Return and Coercive Measures in Goods and Services Tax (GST), renowned Chartered Accountant S Venkatmani informed about the complicacies of annul return filing of GST. “While filing the return of GST, The Chartered Accountants must pay close attention because a mistake will not only cost them but also the clients,” he said.
The event was organised with an attempt to increase awareness among common masses and improve working efficiency in tax practitioners on various issues of Taxation Law in Jharkhand.
Around 700 delegates from across the Country participated in the two day conference to discuss on various aspects of taxation laws. Other than Supreme Court Justice Vinit Saran, Chief Justice of Jharkhand High Court (HC), Anirudh Bose was also present as special guest with all judges of the HC. The Income Tax Appellate Tribunal president PP Bhatt and three vice presidents including PM Jagtaap, Pramod Kumar and GS Pannu were also present at the event.