The Hindu Business Line : CII wants TDS made more user-friendly

As part of its Pre-Budget Memorandum the Confederation of Indian Industry (CII) has suggested modifications to the Tax Deducted at Source (TDS) provision in income-tax. It has recommended measures for rationalisation such as consolidating various sections including stipulations and rates for TDS exemptions limits.

The CII also said that short or excess deduction of income-tax in a financial year for employees should be allowed to be adjusted by the employer. This would remove the need for employees to claim for a refund.

The chamber also advocated the need to revise the exemption of limits for rent, payments to contractors, interests and fees for professional services. According to the CII, the current limits were very low. It suggested a uniform rate of TDS for all payments, except for salaries.

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