Indore (Madhya Pradesh): CA students were given training in various issues, including GST, corporate finance, bank audit, income-tax and others. They were also informed about the nitty-gritty of tax return filing.
To train CA students, the Indore branch of ICAI had organised a 5-day workshop. Conducting a session of the workshop, coordinator Amitesh Jain said it was very important to see the report of 26 AS, TIS and AIS before filing income-tax return. Information related to shares is also visible in the AIS report, which is required to be matched with the demat account and the contract note.
Abhishek Pritmani said that, while filing the return, it has also to be kept in mind that the income shown in 26AS has been completely taken into our return, or there is a possibility of the return being defective. Scrutiny of the bank account is also mandatory and it should be ensured that all transactions are taken into account in the return. Nowadays, payments are taken on Google Pay, Paytm and so forth. So, these are also required to be taken into account while calculating income-tax.
CICASA chairman Swarnim Gupta gave information related to corporate finance products and CIBIL. He said that, nowadays, it has become very easy to see the CIBIL score, but by continuously checking the CIBIL score, the CIBIL score also decreases. Many types of loans are taken by a person due to easy availability, but the impact of not paying EMI comes on CIBIL. Timely payment of credit cards is also very important. Once you default in CIBIL, your chances of getting further loans are reduced.
CA Indore branch chairman Anand Jain said that, when students join Articleship after passing the Intermediate Examination, they do not have the basic practical knowledge. So, there is a problem in the office in the initial months. This workshop was organised for the purpose of building up good knowledge before joining the office. There was a lot of enthusiasm among the students. In future, such events will be organised more often.