DEMONITIZATION AND INCOME TAX PENALTIES LAPD SESSION
There was a Diwali Gift which was given by our Honorable Prime minister Shri Narendra Modi on 8thNovember, 2016 at 08:00 p.m. He had banned high denomination currencies of Rs. 500 and Rs. 1000. This has created a big havoc for all the businessmen, entrepreneurs, corporate, etc. Even due to lack of withdrawal limits common man was also disturbed. Even there were major changes in Income Tax law by introducing new penalty provisions and also introducing Pradhan Mantri Gareeb Kalyan Yojna.
We have considered the changes in the economy, Cash Eco- System and the new provision of Income Tax Act based on which ART-40 had decided to undertake an LAPD Session for the Ahmedabad Tables and Circles in association with Gujarat Chambers of Commerce and Industry (GCCI). The other partner was TIE and BWW for the event.
The session was organized on 4th January, 2017 at 05:00 p.m. In the evening. I was one of the Co-speaker on the above mentioned topic. The Co-Chair of GCCI had given us a warm welcome by giving us Momento and Bouquet and giving our detailed introduction to the members present for the session. In order to make it more interactive, we have identified practical situations which are faced by general public during the period of 8th November to 30th December. Even we have explained them in detail about Pradhan Mantra Gareeb Kalyan Yojna and the procedure to apply for the same and did detailed discussion on the same. I am happy to share that few participants have shared their personal experiences with us and seeked our opinion to resolve their pending litigations and matters with the Income Tax Department.
Post the session was over we have organized a High tea along with snacks wherein again one to one discussions happened with the participants.
All in all very great learning experience for all the participants present at the LAPD Sessions.
PROUD TO BE TABLER
Thanks & Regards
LMF Tr Ankit Parikh