Mumbai fails to meet TDS collection by 3-4% in FY13

India Infoline News Service | Mumbai |

I-T Commissioner (TDS) V K Pandey told reporters on the sideline of an event organised by the Indian Merchants’ Chamber.

Indian Merchants’ Chamber has organised a Seminar on ‘TDS – Recent Developments’ at IMC.


TDS (tax deducted at source) collection from the Mumbai region in 2012-13 rose by 10% to Rs 63,000 crore, which is 3-4% lower than the projected growth due to tepid economic conditions." I-T Commissioner (TDS) V K Pandey told reporters on the sideline of an event organised by the Indian Merchants’ Chamber.


Pandey further said that, “Withholding of TDS by business community is a major concern. 30 – 40% of direct taxes are coming through TDS and it is very important for the welfare of the nation. He also hoped to rectify and solve all the TDS Return Filing issues once the online filing method is in full swing. He urged the participants in the seminar who were mainly from industry, to identify the systematic problems related to TDS Return Filing and bring it to his notice.”


Nihar Jambusaria, Co-Chairman, Direct Taxation Committee, IMC made the introductory remarks about the seminar by underlining the importance of knowing the nitty-gritty of TDS.


Domestic TDS related problems and areas of challenges for individuals, Non-resident TDS issues and Administrative issues in E-TDS Return Filing were explained in detail at the seminar.  Sushil Lakhani, Proprietor, Lakhani and Associates,  Kuntal Dave, Proprietor, Nanubhai Desai & Company,  Atul Suraiya, General Manager (Direct Taxation) Tata Chemicals, Ramesh Khaitan, Senior Vice President – Global Tax Head, Lupin and  Ameet Patel, Partner, Sudip K. Parekh & Company were the speakers at the day-long seminar.


 

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