An Outreach Program was conducted by Office of the Principal Commissioner of Incometax-3, in Chennai for sensitizing the film industry tax payers on provisions of Income Tax Act and the latest amendments which are relevant to the industry.
K. Krishna Moorthy, Deputy Commissioner of Income Tax, welcomed the gathering and J. P. Chandrakar, Principal Commissioner of Income tax-3, Chennai, delivered the inaugural address.
Smt. Jayanthi Krishnan, Principal Chief Commissioner of Income tax (OSD), O/o. Chief Commissioner of Incometax-1, Chennai, presided over the function and delivered key note address, touching upon the relevant issues of Income Tax Act, importance of the outreach program and role of taxpayer in development of the nation.
The chairpersons of various associations of industry / key representatives, Murali Ramanarayanan, President of Tamil Film Producers Council, Shri. Sanjay Wadhwa, Vice President of South Indian Film Exporters Association, R. K. Selvamani, President of Film Employee’s Federation of South India (FEFSI), . Nasser, President of Nadigar Sangam, T. G. Thyagarajan, Producer, Satya Jyothi Films, . Kalaipuli S Thanu, Producer, V Creations and . T. Arulpathy, President of Tamil Active Distributor Association attended as special invitees to represent the industry and also shared their thoughts on tax compliance by assesses from the film industry and issues specific to them. Overall, more than 150 persons from film fraternity as well as their tax advisors, attended and actively participated in the outreach programme.
R. Mukundan, Additional Commissioner of Incometax, made power point presentation on the general provisions of the Income Tax Act and on specific issues that are relevant to the taxation of film fraternity. L. Raja Raman, ITO(TDS) and T V Sridhar ITO(TDS) have thrown light on the general TDS provisions.
Throughout the programme, experts, both from the Department and from the film industry have shared their insights on a number of important issues relevant to the taxation of film industry tax payers. The emphasis was given to foster an environment in which every taxpayer, at every level, understanding the importance of tax compliance.
During the programme the specific issues relating to the film industry, such as Incometax Rule 9A and Incometax Rule 9B, difference in TDS rates applicable for theatrical and non-theatrical rights, issues relevant to Section 285B of the Incometax Act & Form 52A and linking of Aadhar & PAN etc., were elaborately discussed and various suggestions also emanated from this outreach program on these issues.
. Umesh Kumar Barnwal, Incometax Officer, Chennai proposed vote of thanks.
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