CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: “A two-day National Conference of Chartered Accountants is being organized in Bhopal under the Direct Tax Committee of the Institute of Chartered Accountants of India (ICAI). The purpose of this conference is to highlight the significant role of Chartered Accountants (CAs) and provide them with the necessary information regarding new tax laws and changes introduced in the budget.
CAs play a crucial role in enriching the government’s coffers through taxes. Particularly, the months of August and September are highly important for business professionals, as this is the period when the accounts of large traders, companies, large taxpayers, and charitable societies are audited. CAs also play a key role in ensuring accurate tax calculation.
It is the responsibility of CAs to thoroughly analyze the changes made in the budget each year and ensure their correct implementation. This conference reflects the commitment of CAs to realize the concept of ‘Partners in Nation Building.’
Conference Details:
Day One:
On the first day of the conference, two technical sessions will be held. Senior tax reviewer CA Girish Ahuja, who will be coming from Delhi, will share his insights on capital gains. Following this, CA Mehul Thakkar from Ahmedabad will discuss bogus invoices and correspondence with the income tax department.
Day Two:
On the second day, CA Shubham Khetan will discuss the harmonization between income tax and GST. This discussion will be extremely important for all taxpayers, with a particular focus on the overlap between the two taxes. Following this, CA Naman Shrimal from Jaipur will provide information on the taxes applicable to payments made abroad from India, which is highly significant given Madhya Pradesh’s growing participation in global trade. In the final session of the conference, CA Pankaj Saraogi from Delhi will share his experiences on auditing under income tax law. Compliance with the changes introduced in the budget is an integral part of the tax audit report, and this conference is particularly crucial this August as the audit deadline is September 30.
Role of CAs in GST Implementation:
Chartered Accountants have played a pivotal role in the implementation of the GST law introduced in 2017. From 2017 to 2024, CAs have made significant contributions in explaining and implementing the changes in GST. Through this conference, ICAI is ensuring that citizens of the country have a thorough understanding of the tax system.
Address by Chief Guest Alok Sharma:
In his address, the chief guest, Alok Sharma, announced that he would represent the Finance Minister, Home Minister, and Prime Minister regarding the implementation of SOPs for the formation of a mediation committee to resolve disputes in certain special investigations and actions related to Chartered Accountants.
Mr. Sharma also emphasized the need to recruit Chartered Accountants in various government departments. He believes that the expertise of CAs should benefit government departments, thereby strengthening the country’s financial framework.
We are also proud to announce that the Chief Minister of Madhya Pradesh will be attending this conference. His blessings and inspiration will make us even more eager and dynamic in our efforts for the development of the state and the country, and for that, we are grateful.”
