|People cautioned against speculative news|
GUWAHATI, Nov 27 - Vikram Sahay, Director of Income Tax (Intelligence and Criminal Investigation, NER), Guwahati has urged the people not to fall prey to speculative news and fake posts on social media.
He stated that the government is watching everyone who earns and structuring of accounts or deposits in more than one account of the same person will not help. Sahay was speaking as the chief guest on the second day of the National Conference of Chartered Accountants held at Pragjyoti ITA Machkhowa here on Saturday.
The delegates were addressed on issues relating to reporting by banks to be done as per government mandate and importance of use of Form 61.
He also urged all professionals to follow clarifications issued by the government on a regular basis and apply their professional skills without getting carried away by any hearsay.
Sahay appreciated the transparency and efforts with which IT officers are working towards economic reform and tax administration.
Girish Ahuja and Dr Sanjiv Choudhary spoke at length on various aspects of Income Tax.
Ahuja, in particular, spoke on various issues relating to capital gains and applauded the skills of the Ministry of Finance in execution of a series of interwoven laws without sparing benami transactions.
He appealed to chartered accountants not to indulge in any unethical or misleading activities in order to protect their clients or to make windfall gains in any manner.
In the afternoon session AS Bhandari discussed at length the role of technology in the profession and digital techniques for auditing and Kartikeya Nath deliberated on modern concept of forensic audit.