Answer Posted / srinivasulu
Nothing is as tangled and knotty as the TDS provisons.
While some TDS rates are specified in the individual
section which deal with the tax treatment of the particular
stream of income, some rates are included as part of a
separate schedule. To make matters worse, these rates get
tampered and modified every year. This result in so much
chaos and confusion, that sometimes those who have to apply
TDS, do not have a clue about what rate to use. Imagine the
plight of tax payer.
The genasis of the problem lies in the complicated nature
of the tax laws. The authorities complain that less than 2%
of our population actually pays taxes. However,
simpliflying the provisions is not viewed as a possible
solution. On the other hand, in an effort to bring more and
more people into the tax net, the lawmakers simply endup
complicating the law. And the rule is simple more the
complexity more the room.
TDS is final tax payable- at the time of filling his
returns, the assessee pays the balance if any or asks for
refund, as the case maybe. Ergo, it behooves the Department
to have a standard uniform rate -convenient both for itself
as well as the taxpayers.
The most unfortunate part is that we could have easily done
away with any TDS provided the deparrtment had good
infrastructure to apprehend assessees avoiding tax only
through TDS.
Types of payment, relevant provisions, person responsible
for deduction of tax and type of payee.
Rates For TDS In India.
TDS Return.
Tax Deduction Account Number (TAN).
How To Deposit In TDS.
Exemption From TDS.
TDS Exemption For Individual.
Certificate Of Deduction.
No Objection Certificate In TDS.
Special Cases In TDS.
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