• Office no:- 102-IN-9-A-1 First floor, WEA, Karol Bagh, New Delhi,
• admin@edu-visor.in

• +91 9911235662Team Member
• Karol Bagh, New DelhiCorporate Office Location
• 09:30AM - 06:00PMOffice Timing

Login

Assocham also said that at present, there are about 40 sections under the act dealing with TDS and in addition, there is a huge list of rules and forms associated with these TDS provisions.

Industry body Assocham on Thursday suggested the government to cut Tax Deduction at Source (TDS) in the next Budget with a view to reducing litigation on the application of correct rate. Presently, there are various rates of TDS prescribed under the Income Tax Act on Different categories of transactions and that has led to ambiguities in the context of applicability of relevant sections and correct rate, resulting in litigation, the chamber said.

It has suggested “slashing if TDS to one or two rates and could be as low as 0.1 percent or 1 percent”.

This would achieve the twin objective of creating a log of the transaction in the tax department’s database (in cases where the trial cannot be established by other sources) while litigation on the application of the correct rate, “it added.

Team Edu-Visor