Under the esteemed guidance of Shri Debjyoti Das, Pr. Director General of Income Tax (Intelligence & Criminal Investigation), New Delhi, Directorate of Intelligence and Criminal Investigation, Gujarat in collaboration with The Gujarat State Co-op Bank Ltd, Ahmedabad organised an outreach Programme on 20.05.2026 under the initiative PRARAMBH 2026 — Policy Reform and Responsible Action for Mission Viksit Bharat — with the objective of creating widespread awareness regarding the provisions of the newly enacted Income-tax Act, 2025 and the Income-tax Rules, 2026, which have come into force with effect from 1st April 2026. The initiative forms part of the Government of India’s larger effort to ensure smooth transition, greater public understanding, and effective implementation of the new tax regime across all sectors of society.

The programme was held at the Auditorium of Gujarat State Co-operative Bank Ltd., Naranpura, Ahmedabad through physical presence as well as webinar mode by following austerity measures suggested by Hon’ble Prime Minister Shri Narendra Modi that witnessed enthusiastic participation from senior dignitaries and representatives of Gujarat State Co-operative Bank Ltd., 18 District Co-operative Banks, nearly 195 other co-operative banks, and senior officers of the Income Tax Department. The event served as an important platform for dialogue and interaction between the Department and stakeholders from the co-operative banking sector, enabling participants to gain a clearer understanding of the objectives and practical implications of the new legislation.

During the programme, the provisions and framework of the new Income-tax Act, 2025 were explained in a simple, structured and easy-to-understand manner. It was highlighted that the new Act replaces the six-decade-old Income-tax Act, 1961 and represents one of the most significant structural reforms undertaken in the field of direct taxation in recent years. The reform is closely aligned with the Government of India’s vision of achieving a “Viksit Bharat” by the year 2047. The new legislation seeks to simplify tax laws, reduce compliance burden, strengthen transparency and accountability, enhance digital integration and promote a more trust-based and citizen-centric tax administration system. Shri Akhilendra Pratap Yadaw,  Director of Income-tax, Gujarat stated that during last year more than 2 Lacs defective statement worth of Rs.50,000 Crore has filed by reporting entities. Shri Yadaw has also stated that reporting entities must filed correct and timely SFT (Statement of Financial Transaction) on or before 31^st May, 2026. Shri Yadaw has also emphasized that due to incorrect and defective filing numerous tax payers gets Income Tax Department notice. Therefore, correct and timely filing of SFT will deter department notices to a large number of assessee.

The Department made detailed presentations on form 61, form 61A and filing of form 61B. Apart from the above, Shri Shashikant Kumar and Shri Dushyant Gupta, Income Tax Officer presented detailed presentation for form 61, form 61A and form 61B wherein it was stated that cooperative banks are required to file correct and timely Specified Financial Transactions reports.

Addressing the gathering, Shri Akhilendra Pratap Yadaw stated that the Income-tax Act, 2025 has been specifically designed to make tax laws simpler, clearer, and more accessible for taxpayers across the country. He observed that over the years, the earlier law had undergone numerous amendments, making it lengthy, complicated, and difficult to interpret, thereby increasing compliance burden and giving rise to litigation and ambiguity. He further stated that the new framework aims to minimise disputes, improve taxpayer confidence and convenience, reduce compliance costs and time, and facilitate ease of doing business through a modern, technology-driven, and transparent administration.

The programme also included detailed presentations by senior departmental officials on the key features and practical aspects of the new Income Tax Act, 2025 especially from the perspective of Intelligence and Criminal Investigation wing of the department. Special emphasis was laid on various taxpayer facilitation initiatives launched under PRARAMBH 2026. These included “Kar Saathi”, an AI-enabled chatbot available round the clock on the Income Tax Department’s website for taxpayer assistance, “Kar Setu”, a comprehensive guidance and reference platform designed to provide simplified access to information, and “Samvaad”, a series of interactive learning sessions aimed at enhancing taxpayer awareness and engagement.

Sri Ajay Patel, Chairman of The Gujarat State Cooperative Bank Ltd, thanked the department for sensitising the banks on form 61, 61A and 61B Compliances, awareness about New Income Tax Act, 2025. He also thanked the department for taxpayers friendly tools like Kar Sathi, Kar Setu, Madhukar, Brochures, Samvad etc.  He also directed reporting entities that everyone is required to ensure the correct and accurate reporting on or before 31^st May 2026.

The Department further informed participants that the Ahmedabad Mega Outreach Programme would be followed by a series of extensive awareness and outreach programmes across Gujarat in the coming weeks. Such programmes are proposed to be conducted in Bharuch, Rajkot, Jamnagar, and several other districts to ensure broader dissemination of information and stakeholder engagement at the grassroots level. The Department reiterated that the overarching objective of these reforms is to establish a simpler and more transparent tax system with easier compliance, reduced litigation, and a more taxpayer-friendly administration, thereby contributing meaningfully towards the national vision of Viksit Bharat by 2047.

IJ/BS/GP

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