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CBDT sees scope for higher TDS play
August, 23rd 2016

The government sees scope for more tax revenues to be garnered via Tax Deduction at Source (TDS) route, a senior income tax department official said.

As on date, nearly 40 per cent of total direct tax revenue is collected in the form of TDS and more could be done on the front, said Vatsalaa Jha, CIT-III (Transfer-Pricing), at a PHD Chamber of Commerce and Industry event.

“We expect more people who are liable to deduct TDS should come into the fold,” she said.

Jha admitted that TDS grievances are on the rise, but noted that they are mainly because of TDS mismatch.

She added, “What has been deducted has not been deposited and is lying with the tax payers… this is creating an agony.”

On TDS software, Balbir Verma, Principal Director General of Income Tax (Administration), said, “There have been some issues with the software and for that we’re issuing instructions, circulars, and most importantly updating our software”.

 
 
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