Surat, May 8 – In a collaborative effort to enhance awareness and understanding of India’s evolving tax laws, the Southern Gujarat Chamber of Commerce and Industry (SGCCI) and the Southern Gujarat Income Tax Bar Association (SGITBA) jointly organized a high-impact seminar focused on direct and indirect taxation.
Held as part of an ongoing study circle series, the seminar brought together senior tax professionals who offered detailed insights and practical solutions to navigate the increasingly complex tax environment. Former SGCCI President Ramesh Vaghasia inaugurated the session, emphasizing the critical need for tax literacy among businessmen and citizens alike. He highlighted that this study circle series aims to serve as a platform for discussing key reforms and legal challenges in the tax regime.
One of the keynote speakers, Advocate and Chartered Accountant Viresh Rudlal, addressed the intricacies of the faceless assessment system. He advised prompt appeal filings and encouraged coordination with senior officers to ensure timely resolution of tax disputes. Citing the Disha Apex case, he elaborated on vital legal interpretations and practical implications for taxpayers.
Advocate and Chartered Accountant Pragnesh Jaggasheth provided an in-depth explanation of Sections 68, 69, 69A, 69B, and 69C of the Income Tax Act, which deal with unexplained income, investments, and expenditures. He analyzed updates applicable to Assessment Year 2023–24 and discussed the implications of the Supreme Court’s landmark Rajeev Bansal judgment.
The seminar was anchored by SGITBA President Kulin Pathak, with Deepesh Shakwala handling the session’s moderation and Prakash Bhambhani introducing the speakers. Former SGCCI President Anil Shah delivered the vote of thanks, appreciating the speakers for their insights and the participants for their active engagement.
This study circle series will continue over the next nine days, featuring expert-led sessions on various critical topics. A session held on May 6 focused on the intersection of indirect taxes and artificial intelligence, with Advocate Hemant Desai and CA Manthan Chavat delivering presentations that offered both technical and legal perspectives, providing valuable takeaways for attendees.
The initiative stands as a forward-thinking step in ensuring that businesses and professionals remain informed, compliant, and equipped to navigate India’s dynamic tax landscape.
