An seminar on Income Tax TDS was organized jointly by Calcutta Citizens Initiative, All India Federation of Tax Practitioners and Rajasthan Bengal Maitri Parishad at Aaykar Bhawan, Kolkata.
D N Mishra, principal commissioner of Income Tax inaugurating the seminar said that the department will create awareness for proper TDS compliance by all deductors.
Rakesh Goyal, commissioner of Income Tax (TDS) explained the TDS provisions and assured necessary help to tax deductors as well as taxpayers in proper adherence to law.
Eminent tax advocate Narayan Jain demanded that monetary limits for TDS need to be revised upwards and rate of TDS should be scaled down in view of present exemption limit and lower rates of income tax. He also said that multiplicity of provisions relating to interest and commission income need to be consolidated into for simplification.
N N Mishra, Principal Commissioner of Income Tax said that 7 lakh new taxpayers will be added in next two months in West Bengal. Principal Commissioners Sandip Kapoor, KCP Patnaik, and MW Haque also participated in the seminar, while Nilesh Som, joint commissioner of IT answered questions with other speakers.