Srinagar, Mar 11: The Kashmir Chamber of Commerce and Industry (KCCI) held an interactive meeting on tax-related issues today with the Principal Commissioner of Income Tax for Jammu and Kashmir and Ladakh, Vikram Sahay, alongside Mr. Shakil Ahmad Ganie, Deputy Commissioner of Income Tax Srinagar. The meeting held at chamber office was attended by KCCI office bearers, executive committee members, Tax consultants and Chartered Accountants.
KCCI President Javid Ahmad Tenga articulated the pressing concerns of the local business community and taxpayers regarding tax payments, non-compliance issues, and the attachment of bank accounts of assesses. He emphasised the need for enhanced communication and awareness programmes to address these challenges effectively.
In response, Principal Commissioner Vikram Sahay highlighted the success of the “Vivad Se Vishwas” outreach programme, which has led to over 100 applications for the settlement of outstanding tax dues.
He acknowledged a significant improvement in advance tax payments by the corporate sector between December 2024 and February 2025, emphasising that timely payments could help businesses avoid penalties.
“We are here to support the business community and address their concerns,” he stated.Secretary General Faiz Ahmad Bakshi highlighted significant concerns regarding the plight of assesses who have received notices for non-payment over the past three decades. Despite numerous appeals and requests for rectification, there has been a lack of resolution in many cases, leaving these individuals in a state of uncertainty.
The Principal Commissioner responded positively to each inquiry, stating that the Income Tax Department is committed to facilitating a smoother tax experience for local businesses.
