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
Latest Expert Exchange
Direct Tax »
 TDS cut but not paid to government? Here's why you shouldn't worry Income Tax alert
 CBDT amends tax audit report format
 Direct taxes code task force to be reconstituted
 Finance ministry to recast direct tax panel after discord on suggestions
 Pay tax, get rewards from the government
 Corporate advance tax growth rate doubles
 Central Board Of Indirect Taxes And Customs Notification No. 84/2018-Customs
 Rajasthan HC directs CBDT to consider further 15 Days Extension
 Delhi HC issues notice in a petition seeking extension for filing of ITR and TAR
 CBDT instructs CCITs to mop up tax collection
  Good news? Taxpayers missing this big point Income Tax Return (ITR) filing deadline extended

CBDT asks I-T department to take urgent steps
September, 15th 2017

With revenue collection from the TDS category witnessing a sluggish pace, the CBDT had asked the I-T department to pull up its socks and take "urgent" steps and also conduct survey operations to shore up the funds.

CBDT Chairman Sushil Chandra has issued a stern directive to all the field offices of the Income Tax Department in this context and has sought an action taken report in less than a month's time.

In his letter, accessed by , Chandra has expressed his "disappointment" over the growth rate under the Tax Deducted at Source (TDS) collections, saying some regions (I-T ranges) in the country were showing negative or single digit figures.

In view of this, he wrote, "there is an urgent need to step up efforts for augmenting TDS collections."

"A few indicative steps in this regard are conducting more TDS surveys to check large scale non-deduction or under deduction of taxes at source as well as non-deposit of taxes already deducted," the chairman told his principal chief commissioners.

Chandra also directed the department that all cases, where TDS payment by the deductors in the current year is more than 10 per cent lower than the payments in the corresponding period of last year, "may be examined on priority for possible spot verification or survey based on the compliance background of the deductors."

The CBDT chief asked the taxman to "ensure" that the TDS deducted by the state and central government departments are duly collected.

According to official data, the TDS revenue collection till August 31 was over Rs 1.65 crore which reflects a growth rate of 10.44 per cent over the corresponding period of the last fiscal.

However, this rate also shows a "significant decline" of 7 per cent over the last financial year, when the growth rate was 17.44 per cent.

The department has also been asked by the CBDT chairman to monitor TDS collections under section 194-IB of the Income Tax Act (payment of rent by certain individuals or Hindu undivided family) and section 194-IC of the same Act (payment under specified agreement).

The department has also been asked to keep a tab on TDS "defaulters" and been instructed that criminal prosecution complaints should be filed in such instances, on a case-to- case basis.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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