PCM SD College holds webinar on “amendments in income tax (pre and post covid) on eve of income tax investiture day

Jalandhar: The PG Department of Commerce & Management of PCM S.D. College for Women organized a Webinar on “Amendments in Income Tax (Pre & Post Covid) on the eve of Income Tax Investiture Day. Principal Dr. Kiran Arora welcomed the resource person Prof. S.D. Madaan, Academic Director, G.N. Girls College, Patiala and a permanent Resource person to Income Tax Department (MSTU). Introducing the topic, the Convenor Mrs. Alka Sharma, Head Department of Commerce & Management; discussed as to why 24th July is celebrated as Income Tax day every year. She also highlighted the current issues relating to Income Tax that need clarity under the present uncertain situation of Covid-19.  Prof. SK Madaan highlighted how this crisis has brought changes in the Income Tax provisions. The webinar was started with description of sourcing Income for Foreign Tax Credit computation purpose & how to take advantage of foreign tax credit. He also talked about the tax benefits available to all & how to understand the Taxation system in a better way. The main focus area – the amendments that were discussed included changes in return filing dates, investment dates. He gave useful tips on how an assesse can take advantage of Tax benefits that are available Post Covid.  The webinar received an overwhelming response and was registered by almost 800 participants. It is worth mentioning that participants from Bhutan and Oman were also a part of the Webinar. The Webinar was hosted and technical support was provided by Dr. Kuljeet Kaur, Mrs. Shikha Puri and Mrs. Kirti Kundra, Assistant Professors, Department of Commerce. The question/answer session was also held for participants. Prof. SK Madaan clarified the doubts of all the participants with a lot of patience. The webinar ended with a vote of thanks by Mrs. Alka Sharma, Head, Deptt. of Commerce. Concluding the event, everyone stood for the National Anthem.