One-day National Seminar on “CONTEMPORARY ASPECTS OF DIRECT TAXES” on 16th March 2019.
Tax regime in India has undergone elaborate reforms over the last couple of years in order to enhance rationality, ensure simplicity and improve compliance. The tax authorities constantly review the system in order to remain relevant. To capture such contemporaneous developments in taxation, this Seminar invited papers on various tax-related themes.In his Welcome Address, the Hon’ble Vice Chancellor highlighted the background of India’s Direct Tax Policy. Dr. P. Sree Sudha stressed on the need to realign tax policy with the developmental strategy of the Nation and hence, the need for constant review of the taxation regime .After inauguration by the Chief Guest Sri B.G.Reddy, Chief Commissioner of Income Tax (Visakhapatnam), Shri GVN Hari, senior advocate, highlighted the practical and prosecution- related aspects of direct tax administration. Sri G. Venu Gopal, Director-Finance, Visakhapatnam Steel Plant detailed the realignment of taxation policy with the developmental needs of the Nation through his paper “Recent Trends on Exemptions and Deductions under Income Tax Act.” Shri. O. Naresh Kumar, CEO of Symbiosis Technologies, criticised the aggressive taxation policies of the government and the wide discretion powers given to tax authorities as resulting in ‘pain of doing business’.The Technical Sessions were chaired and attended by Chartered Accountancy Professionals, Government of India officials working in the Indian Revenue Services, and budding lawyers. The seminar witnessed participation of more than 150 persons.