FTCCI hosts webinar on TDS under Income Tax
About 95% of 850 grievances received last year were resolved within 30 days, says K Meghanath Chowhan, Commissioner of Income Tax- TDS, Hyderabad
image for illustrative purpose
Hyderabad: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) organised 80 plus webinars and physical awareness meetings last year in Telugu States. To reach out to stakeholders composed of educators, taxpayers and others, it has organised a webinar on TDS (Tax Deducted at the Source) as it is one of the main streams of revenue for the Government of India.
“Direct taxes from 50 to 65 per cent of tax collection,” said K Meghanath Chowhan, Commissioner of Income Tax - TDS addressing the webinar on Tuesday afternoon. “Telangana and AP stand as one region as far as Income Tax is concerned and stands 6th in India after Mumbai, Bangalore, and Delhi. TDS as we understand is an activity that involves various stakeholders. Deductors are a very important segment. “
“As the economy is growing, financial activity is also becoming complex. TDS Provisions or Laws are also evolving from time to time. Now TDS is expanded to many other activities such as online gaming, and cash withdrawals beyond a limit. The technological advancements in the department are providing facilities to deductors and capturing all activities. And department can analyse such data to get information at a click of a mouse,” he added.
