CII Interactive Session with Deputy Commissioner, Income Tax(TDS), Chandigarh
Confederation of Indian Industry (CII) Chandigarh organized an Interactive Session with Sohrab Singh Chauhan, Deputy Commissioner, Income Tax(TDS), today at CII NR Headquarters, Chandigarh.
City Air News
Nov 30, 2022 01:23
0
Chandigarh, November 30, 2022: Confederation of Indian Industry (CII) Chandigarh organized an Interactive Session with Sohrab Singh Chauhan, Deputy Commissioner, Income Tax(TDS), today at CII NR Headquarters, Chandigarh.
The interaction provided members an opportunity to understand better the developments in direct taxation. Also, the objective of this Interactive Session was to address concerns of CII member companies related to income tax, specifically TDS and TCS, and to provide a forum for direct interaction with the Deputy Commissioner on company specific issues
Sohrab Singh Chauhan, Deputy Commissioner, Income Tax(TDS) ,elaborated upon various aspects on taxation with respect to current economic scenario. He emphasized on the importance of compliances and deadlines, as many a times managers even do not know the deadlines due to which the companies have to face the penalties.
The participants raised many questions related to phrasing of invoices, tax deduction rates, problems in online filing of returns and problems of fraud. Chauhan offered practical solutions to the issues raised during the session. He also advised the participants on timely payment of advanced tax.
Rajiv Kaila, Chairman, CII Chandigarh & Director, Kaila Engineering Pvt Ltd said, “TDS and TCS provisions have changed, and compliances have increased substantially in last few years, impacting MSMEs and other tax payers both big and small. These compliances have become even more onerous than before with serious repercussions. The consequences of non-compliance or erroneous compliances are immense.”
