TDS form 50 per cent of collection, say Taxmen — Информационное Агентство "365 дней"

TDS form 50 per cent of collection, say Taxmen

Hyderabad: About 50 per cent of the Income-Tax moped up in in the last fiscal from Andhra Pradesh and Telangana was collected via TDS, the data released on Tuesday showed.

The I-T department, which on Tuesday held a meet in regards to TDS provisions and its compliances in the city, said that out of Rs 49,772 crores collected during FY18, Rs 24,473 crores (49.17%) come from Tax deducted at Source (TDS).

The data also showed that nearly half of the taxpayers in both the Telugu-speaking states file their Income-Tax returns on time and adhere to the deadline. 

Commissionerate of TDS, Peeyush Sonkar (IRS) however, warned against those who do not pay taxes as per the deadlines. “Stringent action like penalties and prosecution could be initiated against defaulters,” he said.

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