PHDCCI Hosts Impactful Seminar on “Navigating Income Tax Pitfalls”

New Delhi-PHDCCI’s Direct Tax Committee hosted an insightful seminar, “Navigating Income Tax Pitfalls: A Practical Guide to Compliance, Audits, and Assessment Defence,” on 25 September 2026 at PHD House, bringing together experts for practical insights on tax compliance, assessments, disclosures and litigation preparedness.

Dr. Rakesh Gupta, Senior Advocate & Co-Chair, Direct Taxes Committee, PHDCCI, welcomed the speakers and delegates and highlighted key income-tax pitfalls and compliance risks.

Mr. Gagan Kumar, Partner, Khaitan Legal Associates, discussed assessment proceedings, scrutiny and inquiry notices, reassessment under Sections 148 & 148A, search cases, notice validity and faceless assessment issues.

Mr. Rohit Jain, Partner, Vaish & Associates, shared insights on missed income and deductions, filing corrections, Updated Returns under Section 139(8A), reassessment and condonation of delay.

Ms. Tejasvi Jain, Associate Partner, Vaish Associates Advocates, addressed the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, including eligibility, disclosure, payment procedure and implications.

Mr. Sunil Bhansali, Co-Chair, Direct Tax Committee, PHDCCI, emphasised effective compliance, documentation, commercial rationale and preparedness for audits, assessments and litigation.

The seminar was moderated by Ms. Babeeta Sharma, Director, PHDCCI, who highlighted the importance of understanding tax risks and maintaining proper documentation.

Ms. Minakshi Srivastava, Joint Secretary, PHDCCI, efficiently coordinated the conference, ensuring seamless execution.

The four-hour session concluded with meaningful discussions and practical takeaways on navigating income-tax compliance and assessment challenges.