1 / 1

Budget 2016: Budget May Offer TDS Relief To Taxpayers

The government is considering rationalising tax deducted at source, according to recommendations made by the R V Easwar Committee.

renitasaint
Download Presentation

Budget 2016: Budget May Offer TDS Relief To Taxpayers

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Budget 2016: Budget May Offer TDS Relief To Taxpayers The government is considering rationalising tax deducted at source, according to recommendations made by the R V Easwar Committee. Officials said the changes in tax deducted at source (TDS) rates and thresholds would not have a significant revenue impact. Revision of the tiny annual limits, which were long overdue, would, however, benefit small depositors and pensioners, they added. "For the Budget 2016, we will be looking at recommendations that do not have large revenue implications. For the rest, we will have to do the math on the tax revenue foregone," said a government official. The panel has suggested reducing the short-term capital gains tax on annual earning of less than Rs 5 lakh from trading of shares and not treating it as business income. This will have a significant revenue implication when the government is trying to lower the fiscal deficit to 3.5 per cent of the gross domestic product (GDP) in Budget 2016-17 from the projected 3.9 per cent in 2015-16.

More Related