Need for simplification of TDS/TCS provisions

Dear Valued Stakeholder,

The Income-tax Act, 1961 contains numerous provisions relating to Tax Deduction at Source (TDS) and Tax Collection at Source (TCS). These provisions were introduced to tax the income at the earliest point of time, establish transaction trails and widen the tax net. However, over the years scope and complexity of these provisions has increased manifold. Numerous compliances, interpretational challenges and litigation have significantly increased the administrative burden of the taxpayers. Hence, there is a need to give a re-look to these provisions.

Grant Thornton Bharat invites you to a webinar to discuss the practical challenges faced by taxpayers and recommendations to policy makers before Budget 2022, to rationalise and simplify these provisions.