Indore (Madhya Pradesh): Senior Chartered Accountant Rajesh Mehta said that whenever a person files their tax return, it is mandatory to provide information on all their bank accounts. It is therefore very important to check with the Annual Information Statement (AIS) when filing the statement. Any type of transaction or income reflected in the AIS must be included in the statement. Along with this, the details of the sale and purchase of goods, any kind of gifts, etc. must be indicated in the declaration.
Mehta was addressing a seminar held for CA Bhawan Chartered Accountancy students on Saturday. The theme of the seminar was “Taxation, writing and behavior in the office”.
Speaking to the keynote speaker Mehta said that there are many cases where there is a difference between turnover in GST and income tax returns, and in such cases the turnover business must be indicated correctly. He also said that according to Sections 44AD and 44ADA of the Income Tax Act, if the turnover of a businessman is Rs 2 crore and that of a professional at Rs 50 lakhs, he can then file his tax return under the flat tax scheme. .
This year, the tax return filing deadline is July 31, 2022 and in case of an audit, the tax return filing deadline is October 31, 2022.
The President of SICASA, Swarnim Gupta, said in his welcome address that the municipal branch of SICASA constantly organizes programs for the overall development of students, and the university life that students miss during their studies as CA students is fulfilled by the programs organized by the SICASA. . Through team management, leadership, and extracurricular activities, students can do well in their careers.
Anand Jain, President of CA Indore Branch, said every CA student should stay away from all distractions that arise during their studies.
Another speaker, Ayushman Khasgiwala, informs about office etiquette and precautions to take before drafting any legal document. He said a person’s first impression comes from their clothes. Suits are prescribed for every occasion, simple clothes should be worn in the office.
Mausam Rathi and CA students were present in the program.
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