The Institute of Chartered Accountants of India, Bhopal branch, has organised a seminar on Tax Audits, Income computation and Disclosure standards and miscellaneous tax issues here on Saturday.
On this occasion eminent speaker from Delhi CA Kapil Goel and CA Sachin Jain were invited.
In the first session CA Sachin Jain addressed chartered accountants audience and thought how new accounting standards and ICDS going to affect tax audit report of client. He also clarified that new standards shall not be applicable on persons maintaining books on cash basis. He also said many petitions are pending against this ICDS rule.
In the second session CA Kapil Goel delivered outstanding speech on various taxation issues particularly related to search, survey, penalty and law. He said in case of a income tax survey in a business premises if there is any surrender of stock than it should be declared under profit and loss account only and in that way heavy tax u/s 115BBE can be escaped.
Before this Bhopal Branch chairman CA Anup Shrivastava delivered welcome speech, sharing dais Regional council member CA AbhayChhajed praised the Bhopal branch managing committee for their full hearted efforts particularly in construction of new building.
On this occasion more than 150 CAs participated along with chairman of ICAI CA Anup Shrivastava, Vice chairman CA Abhishek Gupta, Secretary CA Zubairullah Khan, treasurer CA Saurabh Shrivastava, CA Mayank Agrawal, CA Anshul Agrawal, CA Navneet Garg and CA Hemant Jain and all managing committee members were present.