Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: due date for vat payment :: cpt :: ACCOUNTING STANDARD
 
 
Direct Tax »
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBDT seeks suggestions on framing of rules on country-by-country reporting
 Is it the end of the road for tax havens?
 Government Collects Rs 3.86 Lakh Crore as Direct Tax Till September
 TDS IS PART OF SUM PAYABLE TO PAYEE and is trading liability- interest paid for delayed deposit of TDS is allowable expenditure
 Deductions Under Section 10b Of Income Tax Act, 1961 To Export
 CBDT signs 2 more APAs with taxpayers in September
 PM Narendra Modi seeks simpler rules to raise direct tax share from '07 low
  E-filing income tax return: How individuals can upload any ITR using excel utility

CBDT to simplify TDS
July, 22nd 2011

Board of Direct Taxes (CBDT) is contemplating several initiatives to make the Tax Deduction at Source (TDS) simple, efficient and assessee-friendly, according to Manjari Kacker, Member (Revenue), CBDT.


During an interactive meeting with financial experts from corporations organised by Indo-American Chamber of Commerce (IACC) here on Thursday,  Kacker said that direct tax administration would soon become more and more technology driven and e-filing of tax returns will be promoted for various categories of  tax payers.

She also mentioned about a single window clearance for assessees for correcting mismatches in TDS statements online, which presently entails time.

Kacker said that most of the problems in TDS emanate from either late filing of TDS or incorrect statements.

When pointed out that the banks and government departments are not filing the returns in time, which is causing considerable difficulties for complying with the TDS filing deadlines, she said that CBDT is looking into those complaints.

Foreign parties are often not interested in taking PAN card since they think that it would be time consuming and lead to hassles. Kacker wanted specific instances to be brought to her to take ameliorative decisions. The entire issue has to be seen from the perspective of  Double Taxation Avoidance Treaty signed  between India and the home country of the foreign party and the withholding tax specified in the treaty, she said.

To a suggestion from the floor that the foreign parties should be able to remit the TDS in currencies other than rupee, say in US dollar, and their articles of association to be certified by the respective embassies, she said it was worth considering.

Kacker stated that the total collection from direct tax stood at `590,000 crore in the last financial year and adjusted against refunds, the net tax collected stood at `4,46,000 crore.

TDS constituted, on an average, 30 to 37 per cent of the direct tax collection. In the last financial year, the total TDS collected amounted to `1,60,000 crore, which was quite substantial, she added

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions