The Income tax legislation, as you may be aware, considers certain lapses and offenses as more serious and subjects the offender to a penal action that can involve imprisonment. In the recent past, there has been a sharp increase in the launch of prosecution proceedings, especially in cases relating to non-compliance of TDS/TCS provisions under the Income Tax Act (‘IT Act’).
With the advent of technology and development of risk management strategy, the Income tax department is in complete possession of all information related to taxpayers that even the slightest of non-compliance would alert the radar of the tax authorities, leading to launch of prosecution proceedings.
If you are an Individual or a Company who is either facing prosecution proceedings at the moment or desires to put in place necessary checks and balances so as to not invite potential scrutiny, this series of webinar curated into two parts can bring you some insight.
We invite you to attend and participate in our upcoming webinar where we will delve into the prosecution provisions under the Income Tax law in detail. During the course of the webinar, we will attempt to answer some of the frequently asked questions surrounding the following:
- What are the common issues for which prosecution is launched in the recent past.
- Provisions under the IT Act that deal with prosecutable offences.
- Checks and balances one should adhere to for not being summoned with prosecution proceedings.
- How should one conduct himself/herself if prosecution is launched
- Remedies available to challenge such prosecution proceedings.
- Compounding of offences.
- Relevant jurisprudence in tax laws and interplay with other laws such as IPC (now BNS), CrPC (now BNSS), Indian Evidence Act (now BSA), etc.
Speakers
Bharathi K Prasad, Director, LKS
Janane G, Associate Partner, LKS