Cracking the whip: TDS defaults by state PSUs, banks come under I-T lens

Tax dept plans to conduct over 500 survey operations to ensure compliance

Topics
TDS | TDS on payments | TDS default

Shrimi Choudhary  |  New Delhi 

The Centre has asked the tax department to plug revenue leakage resulting from large-scale defaults in payment of TDS (tax deduction at source), particularly by state government entities and banks. To ensure compliance, it has directed the authorities to take strict action like conducting survey operations.

The move comes in light of a significant rise in defaults by banks in deduction of TDS on interest to state government PSUs, corporations, autonomous bodies, and development authorities. In a recent directive, the tax authorities were asked to collect information from state ...

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First Published: Tue, August 10 2021. 06:00 IST
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