• Monday, 23rd December 2024

Income Tax Department (Exemptions) conducted an outreach programme



Smt. Rashmi Saxena Sahni, IRS, Principal Chief Commissioner of Income Tax (Exemptions), New Delhi, Head of Exemptions Division of Income Tax Department, reviewed Exemptions Charge's performance in Andhra Pradesh, Telangana and Odisha. 

 Commissioner of Income Tax (Exemptions) Mr B. Balakrishna, IRS,   Joint Commissioner of Income Tax Smt. Koteswaramma, IRS, Deputy Commissioner of Income Tax (Exemptions), Ms Sudha Korivi, IRS and Income Tax Officer (Exemptions), Sri T. VenkataRao and other Officers of the Exemptions Charge were present during this meeting. In the afternoon, an Outreach Programme for the Chartered Accountants and Taxpayers was conducted in the Income Tax Office, AayakarBhavan, Dabagardens, and Visakhapatnam. During the programme, she mentioned that during the last two years, significant amendments were brought in, in the Income Tax Provisions, focusing on the usage of advancement of the technology and non-adversarial tax regime. 

Registration subject to renewal and weeding-out of non-genuine Trusts/Institutions. She informed that as per the new provisions, existing entities need to get re-registered, and the new entities are required to obtain the provisional Registration. The Registration granted in both streams is not perpetually but is subject to renewal. Further, all the entities are required to file the Annual Statement of Donations and issue the Donation Certificates. 


She also mentioned that any specified violations would lead to cancellation of Registration, and fixed incomes are to be brought to the taxation at 30% straightaway. She also informed that the cases where no good books are maintained, no audit is required, and even the non-filing of the return of income will be brought to taxation on a net basis. 

Smt. Rashmi Saxena Sahni informed that there are penal provisions where a penalty can be imposed u/s.271AAE. Any violations are found as per Section 13(i)(c). During the  OutreachProgramme, the Pr. Chief Commissioner of Income Tax (Exemptions) explained the latest changes applicable in the Form ITR-7, in which the non-profit organizations must file their Annual Returns of Income. She advised that all the right columns in the form must be filled with Annexures like Audit Report, Accumulation Report etc. The programme concluded by thanking all the CAs and Tax Practitioners for participating in the Outreach Programme.


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