Excelsior Correspondent
Srinagar, Mar 11: The Kashmir Chamber of Commerce and Industry (KCCI) today held a meeting on tax-related concerns with the Principal Commissioner of Income Tax for J&K and Ladakh, Vikram Sahay, and Deputy Commissioner of Income Tax, Shakil Ahmad Ganie.
During the meeting, KCCI President Javid Ahmad Tenga highlighted key concerns of the local business community and taxpayers, including tax payments, non-compliance issues, and the attachment of bank accounts of assessees.
He stressed the need for better communication and awareness programs to address these challenges.
In response, Principal Commissioner Vikram Sahay outlined the success of the “Vivad Se Vishwas” outreach program, which has resulted in over 100 applications for settling outstanding tax dues.
He noted a significant improvement in corporate sector advance tax payments between December 2024 and February 2025, emphasizing that timely payments could help businesses avoid penalties.
On the issue of bank account attachments, Sahay explained that such actions often arise from non-compliance.
He assured that the Income Tax Department has adopted a lenient approach and urged those with grievances to seek resolution.
“We are here to support the business community and address their concerns,” he stated.
KCCI secretary general Faiz Ahmad Bakshi raised concerns about assessees who have received non-payment notices spanning three decades, with many unresolved cases despite repeated appeals.
KCCI members and tax consultants also highlighted issues such as incorrect GST sales reporting, which leads to mismatched figures in TDS filings, and sought clarification on tax compliance, rectification processes, and the implications of the new tax regime.
Sahay responded positively, affirming the department’s commitment to ensuring a smoother tax experience for businesses.
He assured that agenda-based meetings will be held, with the Commercial Tax Department invited to address GST-related complications.
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