President’s Communique

Dear Members,

Hon’ble Finance Minister has presented Budget for the fiscal year 2021-22 on 1st February, 2021 in the back drop of the sever disruption of the economic activity across the globe. Hon’ble Finance Minister has presented a Budget which has been cheered by the markets as never before. She has based her proposals on the following six pillars:-

  1. Health and well-being,

  2. Physical financial capital & infrastructure,

  3. Inclusive development for aspirational India,

  4. Reinvigorating human capital,

  5. Innovation R & D,

  6. Minimum government and maximum governance.

The proposals have been appreciated and applauded by the experts. We, at AIFTP, also appreciate the same. However, we have some reservations with respect to certain proposals of the Finance Bill, 2021. Especially, those pertaining to the Income Tax Appellate Tribunal. A separate representation is being made to the Hon’ble Finance Minister under the able guidance of the seniors in the profession and Past Presidents of AIFTP. I am confident that the same will be considered by the Hon’ble Finance Minister favorably.

The Journal committee of the AIFTP has put in lots efforts to bring out the present special issue on the important proposals pertaining of Direct and Indirect Tax of the Finance Bill, 2021. I place on record my appreciation of the efforts of the Journal committee chairman Mr. Mitesh Kotecha and his team. I extend my special thanks to all the authors, who are experts in the respective fields, for giving their valuable time to the Journal of the AIFTP.

AIFTP (WZ) in association with local sister associations, hold a Virtual National Tax Conference on 17th & 18th February, 2021 on Zoom Platform. The said conference was inaugurated by Hon’ble Justice Shri P. P. Bhatt, President, Income Tax Appellate Tribunal and was well attended by the members.

Our next and first Physical National Tax Conference is scheduled to be held in Puri on 10th & 11th April, 2021 and will be hosted by Eastern Zone and due arrangements are being made to obtain the blessings of Lord Jaganath.

As decided in the NEC, we have restructure the Membership Fees to ₹ 2,500/- plus taxes upto 30th June, 2021. Hence, I would personally like to request the members to set up a target of Each One Get One that is every member is requested to enroll at least one member so that we have a better strength in our life membership.

We have come out with AIFTP Indirect Tax Journal. The said Journal is free of cost in hard copy to the members of AIFTP who opt for the hard copy by clicking the link on the website of AIFTP i.e. www.aiftponline.org. The said Journal would be circulated in soft copy through email and WhasApp to all Members.

Place: Eluru 
Dated: 18/02/2021 

M. Srinivasa Rao
National President, AIFTP

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