Tax Seminar on New Income Tax Act Held in Ranchi

Jharkhandinc Bureau

RANCHI, March 13: A seminar on the proposed Income Tax Act 2025 and its key provisions was organised at the Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) here on Friday.

The programme was jointly organised by the chamber and the Jharkhand Income Tax Bar Association to discuss recent changes in the proposed legislation and their implications for taxpayers and professionals.

Chief Commissioner of Income Tax Rajesh Kumar Jha, who attended the event as chief guest, said the government has made efforts to simplify and streamline the new Income Tax law so that taxpayers and tax professionals can understand its provisions more easily.

Jha urged tax practitioners to study the new legislation carefully and guide taxpayers on compliance under the revised framework.

Addressing the gathering, FJCCI president Aditya Malhotra said the new Act has generated interest and queries among traders, industrialists and tax professionals. He said seminars and workshops help stakeholders understand the provisions of the law and prepare for its implementation.

The main speaker at the event, chartered accountant Rajesh Mehta from Indore, explained various provisions of the proposed law and said the new Income Tax Act is scheduled to come into effect from April 1, 2026.

Mehta discussed several aspects of the legislation including provisions related to capital gains, TDS returns, charitable trusts, MSME payments and compliance requirements for businesses.

He also said the new law introduces structural changes aimed at making tax provisions easier to interpret, with several rules presented in simplified formats to improve understanding.

According to organisers, the seminar was intended to help tax professionals and business representatives familiarise themselves with the proposed legal framework so that they can guide taxpayers effectively once the law is implemented.

A large number of tax professionals, advocates and representatives of the business community attended the seminar.