CAs, I-T Deptt jointly working towards transparency: Binod Kumar
| Date :12-Jul-2019 |
Business Bureau:
CA Suren Duragkar, Chairman of ICAI, Nagpur Branch assured CCI-T that chartered accountants would continue to work in co-ordination with Department so as to bring more transparency
“CAs play an important role in the development of the country and bringing economic transparency,” said Binod Kumar, Principal Chief Commissioner of Income-Tax, Nagpur. He was responding to the felicitation by Managing Committee of Nagpur Branch of WIRC of ICAI led by Chairman CA Suren Duragkar. “Chartered accountants are an integral part in all decision making because general public in India rely on the financials of any company based on statements/report audited by chartered accountants,” Binod Kumar said. With the increase in compliances structure, the reliance is on the work of chartered accountants and much is expected by Income-Tax Department from them, he said.
He said that chartered accountants become professionals after passing through very tough and rigorous examination process and hence expected to maintain high level of quality in audits. Income-Tax Department prima facie readily accept the audits done by chartered accountants. Binod Kumar observed that Income-Tax Department possesses lot of information nowadays about all transactions undertaken due to data analysis and increased use of artificial intelligence.
The Department is having real time information about various types of transactions done by business houses. He praised the work of chartered accountants and urged them to be alert and continue their support in the process of nation building. Further, he informed that Income-Tax Department is committed to bring transparency in terms of scrutiny of correct information. He elaborated that chartered accountants play a vital role of interpreter between Income-Tax Department and taxpayers.
Binod Kumar said, “With enhanced collaboration of CA institute, Income-Tax Department will get all assistance from chartered accountants for resolving queries raised by large number of taxpayers.” CA Suren Duragkar, Chairman of Nagpur Branch while praising and recognising the contribution of CCI-T and Income-Tax Department, assured CCI-T that chartered accountants would continue to work in co-ordination with Department so as to bring more transparency.
He threw light on the work done by Nagpur Branch of WIRC of ICAI for implementing and popularising various amendments and changes in Act’s and regulations. He said, CAs of Nagpur always update themselves about changes occurred in various Act’s on day to day basis. This is happening through various seminars and workshops organised by the Nagpur Branch from time to time. ICAI, Nagpur Branch has received several awards for its outstanding work. Prominently present on the occasion were CA Kirit Kalyani, Vice Chairman, CA Saket Bagdia, Secretary, CA Sanjay M. Agrawal, WICASA Chairman and CA Akshay Gulhane, Executive Committee Member.