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Journalism of Courage
The Income Tax department today said that TDS or tax deducted at source collection in the financial capital has gone up 27.37 per cent to Rs 22,415 crore during the first half of the fiscal.
“We have registered a good growth of 27.37 per cent in TDS collection to Rs 22,415.60 crore till September 30,” a senior official said here.
TDS refers to tax which is paid by companies at source on various accounts like salaries,rent and interest,among others.
In a unique initiative,the Income Tax Department also announced the constitution of a public-private standing committee that will help increase collection by smoothening the process of TDS payment,an official said.
The standing committee,to be headed by TDS Commissioner A C Shukla,will have representatives from chambers of commerce,chartered accountants and tax payers forums,the official said.
The department hopes to solve issues of non-payment of taxes and under-payment on TDS through consultations,the official said.
