BE FAIR TOWARDS AUTHENTIC ASSESSEES ON TDS FRONT: PHD CHAMBER

No.PR-63 August 9, 2018 New Delhi BE FAIR TOWARDS AUTHENTIC ASSESSEES ON TDS FRONT: PHD CHAMBER PHD Chamber of Commerce and Industry on Thursday urged the government to be fair towards those assessees that are genuine and authentic in deduction and deposit of TDS and be firm and even stringent and punitive against those that collect TDS and refuse to deposit it to government kitty. The Chamber has also emphasized that current and prevailing glitches in TDS system need to be addressed to the best satisfaction of all stakeholders since economic liberalization is being enhanced with India becoming a preferred destination for FDIs, FIIs and other investors. The aforesaid recommendations emerged during an Annual Conference on “Tax Deducted at Source Issues, Problems and recent Developments” held here under aegis of PHD Chamber of Commerce and Industry today in which it was also suggested that TDS on GST should not be applicable on non-resident entities just as it is not applicable on resident tax payers.  Similarly there should be no TDS for senior citizens not in businesses nor on charitable trusts. The Conference was presided over by Principal DGIT (Admn & TPS), Ms. Neena Kumar in which the welcome observations were made by the President, PHD Chamber, Mr. Anil Khaitan saying that direct tax system though has evolved a great deal, still needs certain clarities with Chamber’s Chairman, Direct Taxes Committee, Mr. Anil K Chopra making a strong case for more clarity and efficiency on TDS front for assessees that currently face a few problems though there has been much improvement on its administration.. The Conference emphasized that while the government should go ahead with penal action against those that collect TDS but become willful defaulter in terms of its deposit, it was added that the government should be fair to assessees that have no mala fide intention in terms of their TDS deduction and calculation where there are bona fide errors for reasonable cause. Among others who were also present on the occasion comprised CIT (TDS)-1, Ms. Meenakshi Singh; CIT (TDS)-2, Ms. Vanita Rattan Sharma; Co-Chairmen, Direct Taxes Committee, PHD Chamber Mr.Vikas Vasal and Mr. Mukul Bagla alongwith its Principal Director, Mr. Abhi Narayan Mishra. Ends. Koteshwar Prasad Dobhal Consultant (PR)