(from left to right) Narayan Jain (Advocate & Tax Expert), Rakesh Goyal (CIT - TDS), D.N. Mishra (Principal Commissioner of Income Tax), KCP Patnaik (Principal CIT), MW Haque (Principal CIT) and N.N. Mishra (Principal CIT) at Business Standard Smart Business in Kolkata on January 30, 2016, in association with Income Tax Department - TDS Wing, West Bengal, Calcutta Citizens’ Initiative & All India Federation of Tax Practitioners, supported by Rajasthan Bengal Maitri Parishad
A panel discussion on Income Tax TDS under the umbrella of Business Standard Smart Business was held in Kolkata at Ayakar Bhavan in association with Calcutta Citizens Initiative and All India Federation of Tax Practitioners, supported by Rajasthan Bengal Maitri Parishad.
Opening the discussion, D.N. Mishra, Principal Commissioner of Income Tax, said that the department would create awareness for proper TDS compliance by all deductors.
Rakesh Goyal, CIT (TDS), explained the TDS provisions and assured necessary help to tax deductors in proper adherence to law.
Narayan Jain, tax advocate and National Vice President, AIFTP, urged that monetary limits for TDS be revised upwards and the rate of TDS be scaled down. He also proposed that multiplicity of provisions relating to Interest and Commission income be consolidated for simplification. “The report of Justice RV Easwar Committee should be fully implemented in the coming Budget,” added Jain.
Principal Commissioners of Income Tax N.N. Mishra, Sandip Kapoor, KCP Patnaik and MW Haque also participated in the discussion. Nilesh Som and other officials and speakers addressed the queries of the participants.
Presiding over the discussion, Ashok Purohit raised the problems faced by taxpayers in getting tax credit.
RD Kakra, Chairman – East Zone, AIFTP, delivered the welcome address. BL Dugar, President, RBMP, proposed the vote of thanks.