105 members attend proceedings, resolve to issue joint appeal to the concerned authorities to speedily resolve 3 lakh pending cases between 1-10 years old, accounting for over Rs. 25,000 crore of blocked capital
MUMBAI, India – June 13, 2016 – Mumbai-based Trade Association of Information Technology (TAIT), the premier association of IT companies recently conducted its Knowledge Series workshop at Mumbai to address issues related to disputes arising out of dishonour of cheques, and Income Tax issues faced by their members. The workshop session was addressed by Mr Vijay Agarwal, Founder of Bounced Cheque Victims Forum and Mr. Vimal Punmiya, CA and Vice Chairman of All India Business Council. Both speakers talked about the need for members to put up a united front against the prevailing sloth in the judicial system, especially in cheque dishonour cases and disputes related to the Income Tax Act and Direct Taxes.
According to the ‘Society for Fast Justice’, in Mumbai alone there are more than 3 lakh cheque bounce cases pending with the courts, with the litigation running for anywhere between one year to ten years. While the law related to incidents of cheque dishonour says that cases should be disposed of within six months, the courts themselves don’t aide by this guideline. As a result, common citizens and small business owners face a lot of harassment at the hands of petty officials.
Secondly, Maharashtra is the only state in India that charges 2% court fee from the petitioner to file a cheque dishonour case in a court of law. Therefore, it has been estimated that an amount of more than Rs. 25,000 crore is involved in cheque dishonor disputes in Maharashtra alone. As a result, the court fee collected is estimated to be of the order of Rs. 500 crore.
Insisting on the need to protest and fight collectively against delays and imposition of unnecessary penalties by the judiciary in cheque dishonour cases, Mr Vijay Agarwal, Founder of Bounced Cheque Victims Forum said, “The business community is being made to suffer in terms of wasted man days, and opportunity loss, due to inefficient functioning of the judicial system. In fact, the Government of Maharashtra is penalising any petitioner who wishes to seek justice through the courts by imposing a 2% court fee on the amount of the cheque returned unpaid. No other state in India charges such a fee from the petitioner.”
Mr Agarwal also added that despite having collected hundreds of crores of rupees by way of court fee, the judiciary in Maharashtra has not been able to build necessary quality infrastructure or fill vacancies in courts. He appealed to the business community to join ‘Society for Fast Justice’ which has decided to file an appeal with the courts for justice to be meted out to cheque dishonour petitioners.
Mr Vimal Punmiya, CA and Vice Chairman of All India Business Council addressed the members on the issue of recent reforms made in the Income Tax Act and various benefits available to the business community. He enlightened members on the voluntary disclosure of undisclosed Income Tax scheme and the Direct Taxes disputes resolution scheme.
Mr Punmiya said, “The recent amendments made to the Income Tax Act relate to withdrawal of appeals category in scrutiny proceedings, various reliefs, rebates and exemptions given to the assessee in recent editions of the Union Budget, changes in compliance procedures and the presumptive taxation scheme.”
He also discussed the benefits available to business organisations and the rights and duties of the assessee during income tax proceedings.
Mr Rajendra J. Thacker, President, Society For Fast Justice said, “Delay in justice is the root cause of all illegal activities. Lack of deterrent punishment to culprits is another cause for all undesired activities taking place in the society. This laxity on the part of the government and the courts has encouraged the unscrupulous and the wrongdoers to carry on their illegal activities with impunity.”
The ‘Society For Fast Justice’ was formed with an objective to provide speedy, affordable justice to citizens through the courts. It takes up local common issues affecting citizens, non-response from public agencies and direct or indirect issues affecting citizens. The forum has filed three PILs (public interest litigations) in the Bombay High Court and provides free legal advice to citizens on various issues.
Mr Rushabh Shah, President, TAIT said, “We select topics for our workshops wisely so that our members can derive maximum benefit for their time. It gives us immense pleasure to receive such an overwhelming response, with 105 members having attended the workshop.”
Several TAIT members appreciated the sessions.
“The sessions were educative, informative and helpful in increasing understanding of key issues of business law and office productivity. Members like me find great value in TAIT’s efforts,” said Mr. Vinod Vanigota, Director, Chip Com Traders Pvt. Ltd. and Mr Kamal Kamdar, Director, Techzone, while felicitating the speakers.
Mr Mazhar Ali of JBA Infosolutions said that members like him received answers to various important questions like preparation of a legal will and nomination facility.
Mr Ashish Shah of Bios Technologies said, “Every TAIT Knowledge Series workshop is very enlightening for the members. I look forward to more such sessions.”
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Trade Association of Information Technology (TAIT) was formed in March 1996 to represent the interest of IT community in the ecosystem of Distributors/Sub-distributors/Resellers, System Integrators and Service Providers. TAIT has over 300 members representing the complete spectrum of IT organizations. The association was formed to uphold the larger interest of the IT trade, which represents 70% of Mumbai’s IT industry. It’s a forum where the challenges of Mumbai’s domestic IT Industry business is heard and understood. TAIT is a pro-active, leading IT association of India.For more information please visit www.tait.in.