STATE TIMES NEWS
JAMMU: An outreach programme/interactive session with newly inducted Accounts Officers (JKAS probationers) and accounts personnel was on Friday conducted at Northern Zonal Accountancy Training Institute, Jammu on TDS provisions under the Income Tax Act by Dharmender Gupta Income Tax Officer (TDS) Jammu under overall supervision of Commissioner of Income Tax, (TDS-1) Chandigarh, Vivek Nangia and under the guidance of Priyanka Singla, Additional Commissioner of Income Tax, Range-TDS, Ludhiana.
The interactive session was attended by Bharti Sambyal Director Finance (JKAS Principal NZATI), Dr. Farah Anjum, (JKAS Sr. Instructor) and large number of JKAS Accounts officers.
The primary agenda of this outreach programme was to educate and sensitize newly inducted officers about their roles and responsibilities as drawing and disbursing officer and various TDS compliances under Income Tax Act.
The workshop was organized to make them more efficient and to provide better services to deductors and taxpayers.
Dharmender Gupta apprised gathering about importance of TDS mode of revenue collections and share of TDS collection in All India Total Net Collection which has seen exponential growth in all facets over the years.
He stated that TDS mode of collection which is non-intrusive, but extremely powerful instrument to check tax evasions and augment Govt. revenues also helps in identifying new tax payers, thereby keeping a tab on domestic base erosion and profit shifting. TDS compliance also helps naturally in widening and deepening of tax base. TDS provides a whole lot of information which enables data mining and analysis by the department extensively.
Dharmender Gupta advised the officers that annual returns should be submitted online well within due dates and every taxpayer should declare his/her income(s) honestly and accurately as this will help in ensuring timely compliance with the income tax regulations and avoid unnecessary penalties or similar punitive actions.
He emphasized that every possible care should be taken while allowing exemptions/ deductions in computing tax liability for the year. Every document in support of claims made by employees should be subjected to proper examination. Income Tax Officer TDS also made aware about the serious consequences of TDS violations for the entity as well as the principal officers. In this program he focused on issues being examined by the Income Tax Department, specifically on fraudulent/fake deductions and bogus TDS refund claims made by income tax payers in their returns of income.
He said that claiming false and fabricated deductions by employees attracts severe action under Income Tax Act, 1961 & IPC in the form of penalties and prosecutions.
Power point presentation was given by inspector TDS Rahul and CA Pawan Kapur.
CA Kapur gave highlights of newly introduced provisions under TDS and legal and technical aspects about new functionalities on TRACES, filing of correction statements for liquidating huge infructuous demands, Disposal of applications related to TDS mismatch grievance, Challan Correction, TAN closure, short deductions, short payments, non- payment of interest, late filing fee etc. Principal NZATI Bharti Sambyal thanked Income Tax TDS Officer Dharmender Gupta for organizing such important educational workshop for guiding future drawing and disbursing officers of UT of Jammu & Kashmir.