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We thank you for inviting our Chamber for interaction with Hon’ble Member (Taxpayer Services & Revenue), CBDT Shri. H B S Gill, Hon’ble PCCIT of Mumbai Shri. Raj Tandon and CCITs of Mumbai. We believe such interactions foster better trust between taxpayers and the Tax Department. It helps the industry chambers to raise issues and make suggestions for improvement in tax administration and revenue collection to meet the developmental needs of our beloved nation.
On behalf of our Chamber, Mr. Ravikant Kamath, Partner, Ernst & Young LLP & Chairperson of Direct Tax Committee of our Chamber, Ms. Ankita Parekh, Head-Taxation, Pidilite Industries Ltd and Mr. Sanjay Desai, General Manager-Taxation, KEC International Ltd attended the interactive meeting and provided suggestions on following issues :-
Clarify non-applicability of Section 194R on certain items like Free Medical Samples, Brand Reminders, etc.
Clarify that write off of trade debts or waiver of loans does not attract TDS under S.194R
Relief from tax withholding in case of multiple small ticket transactions in lieu of bank guarantee or monthly advance tax
Remove onerous compliance w.r.t. issuance of TDS / TCS certificates
Digitisation of process of obtaining approvals for recognised provident fund, superannuation fund and gratuity fund
Rationalization of Central Processing Centre (CPC) processes
In this regard, we are pleased to provide written representations (attached herewith) for the kind consideration of Hon’ble CBDT Member (Taxpayer Services & Revenue), Hon’ble PCCIT Mumbai and other CCITs of Mumbai region who attended this meeting. We believe these suggestions will reduce compliance burden for taxpayers without adversely impacting the Revenue’s interests, reduce unwarranted litigation and improve ease of doing business.
We shall be happy to provide any further clarifications on the above suggestions
Thanking you,
Yours faithfully,
Sandeep Khosla
Director General
