Karnataka State Chartered Accountants Association Represents Challenges faced in Obtaining Registration under KPTCE Act

The Karnataka State Chartered Accountants Association (KSCAA) has represented the challenges faced in obtaining the registration under Karnataka Tax on Profession, Trades Callings and Employment Act, 1976 (KPTCE Act).

The association has addressed many issues before. And this representation was to mention the practical issues faced by the community. The issues are:

1. The registration under KPTCE Act for Companies incorporated under the Companies Act, 2013 has been made mandatory and the same would be applied along with the application filed for incorporation of the Company. While they get the registration number under KPTCE Act, they were not provided with the username and password (“Credentials”) to access the e-prerana (pt.kar.nic.in/) website where monthly compliance has to be done.

2. In order to obtain the credentials, they were  required to approach the concerned Circle Officer and it took several follow ups leading to wastage of quality time and resources.

3. In order to address this, it is suggested that the credentials be directly sent to

the registered email ID of the Company or a link be provided to the Company to

set credentials on their own.

The Chartered Accountants association has believed that by addressing these challenges and finding a solution can create a more efficient and effective registration process that benefits everyone.

The same Karnataka State Chartered Accountants Association has submitted the suggestions on proposed changes on the Rule 11UA (Angel Tax) of Income Tax Rules, 1962 when the Central Board of Direct Taxes (CBDT) has invited for the comments.

It was suggested that the change to Section 56(2)(viib) of the Income Tax Act, 1961 be effected retroactively, or for the F.Y. 2023–2024 rather than from the date of the notification’s gazetted publication.

Read More: Karnataka State Chartered Accountants Association submits Suggestion on Proposed Changes to Rule 11UA (Angel-Tax)

The Karnataka State Chartered Accountants Association (R) is an association of Chartered Accountants, registered under the Karnataka Societies Registration Act, in 1957. In the past, they have frequently contributed to different authorities outlining various problems, difficulties, and sufferings faced by the business sector while also outlining potential remedies.

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