Chartered accountants discuss Budget, TDS and stock market
The Institute of Chartered Accountants of India (ICAI) recently organised a seminar in the city, which was addressed by ICAI president Charanjot Singh Nanda, and witnessed the participation of local chartered accountants (CAs). The seminar aimed to inform them about tax-saving strategies, Budget implications and stock market trends.
Nanda said Tax Deducted at Source (TDS) had emerged as a significant issue after the recent Budget.
The seminar focused on clarifying various complexities surrounding TDS, and CAs were informed about the government’s efforts to simplify the system.
Nanda emphasised the crucial role of CAs in the country’s financial ecosystem, and stressed the importance of continuous professional education to make one adept in all aspects of taxation and finance. Addressing concerns about job opportunities, Nanda reassured the CAs present that there was no shortage of employment for chartered accountants in India.
Nanda said people earning up to Rs 12.75 lakh annually would not be required to pay income tax under the revised tax structure.
The move was designed to encourage reinvestment in the economy and support middle-class taxpayers, he added.
He said the government viewed this as a strategic fund allocation measure to boost new investments and economic growth.
He said increased Income Tax Return (ITR) filings would lead to higher liquidity circulation, further strengthening the country’s economy.
When asked about recent fluctuations in the stock market, Nanda said market dynamics constantly shifted. He said while stock indices sometimes declined due to specific policy changes, long-term trends remained positive.
The profession was evolving rapidly in response to new government policies, Nanda added.
Institute vice-president Prasanna Kumar D, and central council members Rajesh Sharma, Pramod Jain and Hansraj Chugh also addressed the gathering.
Karnal branch chairman Anuj Bansal, vice-chairman Govind Gupta, secretary Manju Lata, treasurer Sahil Goel and executive members Sarthak Mittal and Vivek Chauhan welcomed the institute president, vice-president and other guests.
