JITO Bangalore South and JITO Bangalore North jointly organized "Budget Insight 2025" at Devaraj Urs Bhavan, Vasanthanagar. The event aimed to provide a comprehensive understanding of the Union Budget 2025 and its implications on businesses.
The program commenced with the invocation of Navkar Mantra, followed by the lighting of the lamp by JITO dignitaries and speakers. Ranjeet Solanki, Chairman, JITO Bangalore South, welcomed the attendees and emphasized JITOs commitment to economic empowerment, seva, and education.
Vimal Kataria, Chairman, JITO Bangalore North, explained the objective of the program, stating, Through JITO, we strive to innovate new program and promote the development of the society, enabling progress in the business sector. Vijay Singhvi Chief Secretary, JITO Bangalore North, set the context for the session. He said that the challenges faced in Income Tax and GST will be discussed in depth so that traders can get a clear understanding of the tax system.
Renowned speaker CA Vimal Punmiya from Mumbai highlighted over 100 amendments made in various sections of the Finance Bill in Budget 2025 and the positive changes taking place in the business sector. He stated that business has become more transparent and accessible due to digitalization and the use of modern technologies. Mr. Punmiya presented an in-depth analysis of direct and indirect taxes, providing businessmen with updated information on taxation.
The challenges faced by women at the workplace were also discussed in the program. Mr. Punmiya emphasized that women should have accurate information about Income Tax, enabling them to better understand their financial rights and responsibilities. He shared valuable insights related to womens wealth protection and tax planning. Additionally, he stressed the importance of filing returns, paying taxes, and understanding tax rates on various commodities for traders.
GST expert Rishabh Singhvi highlighted that the government collects data from various sources, including ITR, GST returns, banking transactions, digital payments, import-export records, and PAN-Aadhaar linking. He explained that by analyzing this data with the help of AI and data analytics, tax evasion is curbed, and the tax system is made transparent. He further stated that e-way bills, details of online purchases monitor business activities, providing traders with a better understanding of government policies and tax compliance. Explaining the importance of credit notes and invoice management systems and noted that credit notes are helpful in tax adjustments, while digital invoicing enhances business transparency and cash flow management.
The program featured a panel discussion moderated by Shirish G Shah and Harikishan G Chhajer. Vimal Punamiya and Rishabh Singhvi discussed important topics related to business, taxation, and financial management. This was followed by a Q&A session, where participants asked questions related to the impact of Budget 2025 and tax planning. The discussion was highly informative for businessmen and professionals.
JITO Bangalore South and North launched the Canton Business Fair 2025, scheduled from April 15-20, 2025.
It was moment of joy; the top 7 winners and 11 daily winner of the JITO Brainy online quiz contest were awarded prizes. Both speakers were felicitated by JITO dignitaries.
The event witnessed a strong attendance of over 200 participants. Prominent guests included Sripal Bachawat, Secretary, JITO Apex, Apex Director, and KKG Zone Chairman Praveen Bafna, KKG Zone Treasurer Om Prakash Jain, JITO Bangalore South Treasurer Nemichand Chopra, Secretary Pratik Gandhi, Joint Treasurers Mahaveer Dantewadia and Narendra Sanklecha, JITO Bangalore South JPF Convener Raunak Gulecha, JITo Bangalore North Treasurer Narendra Accha, JITO Bangalore North JPF Convener Sanjay Pitaliya managing committee members of JITO Bangalore South and North, JYW South Chairman Mehul Srisrimal, past apex director Sanjay Dhariwal and past treasurer of JITO Bangalore Rajesh Mehta. Pratik Gandhi hosted the session, and JITO Bangalore South Joint Treasurer Narendra Sanklecha gave the vote of thanks.