Dispense with TDS and save tax payers from harassment! - Moneylife

Dispense with TDS and save tax payers from harassment! - Moneylife

My VIEW:

The taxation system, like the legal system continues to be extremely complicated in India. While tax is the 'bread and butter'of government which has several constitutional and social responsibilities which can be performed only if it is able to mobilise adequate resources,the method of collection can definitely be made less painful. Just one example. Just as the payment of tax on dividend has been made the responsibility of companies and the dividend declaration will factor in this outgo,all organisations which pay interest on deposits received(including banks) should be assessed on the basis of gross interest payment and the rate of interest should be net of this tax payment.
M G Warrier

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