Butibori Manufacturers Association has arranged a seminar on Statement of Financial Transactions under Income Tax Act 1961 for the benefit of its members. Sandeep Bandhu (IRS) Director of Income Tax (Intelligence & Criminal Investigation) and G K Bhoyar, Income Tax Officer were the learned speaker from Income Tax Department.
Nitin Lonkar President BMA, CA Milind Kanade Hon. Sec. BMA extended warm welcome to the Taxation Authorities. Speaking on the occasion Director of Income Tax Sandeep Bandhu made the audience aware about his department, Statement of Financial Transactions matter, Income Tax Return processing at Central Processing Centre situated at Bengaluru, Data Analysis carried out by Income Tax Department, Mandatory quoting of PAN and appealed to all the members to form a “Tax Compliant Society”.
ITO G K Bhoyer made a presentation about machinery provisions of applicable sections of Income Tax Act and responsibility of reporting about Statement of Financial Transactions. Taxation Authorities replied to the queries put forward by industries members during the seminar.
Summing up the event CA Milind Kanade informed the authorities that BMA is an association of Law abiding Industrial Members and it endeavors to educate its members about the laws and various regulations having impact on Industries.
Large number of members of BMA attended this important event. Prominently present amongst them were Manish Sanghavi, Shashin Agrawal, Alkesh Saraf, Yuvraj Vyas, Punit Mahajan, Subodh Deulgaonkar, Hitesh Agrawal, Ashish Dashasahastra and ITO Ratnesh, Shrihari Garge from Income Tax Department.
