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Delhi : A new form introduced by the Central Board for Direct Taxes (CBDT) to improve tax deductions at source (TDS) has allegedly made the process more cumbersome, and may even prompt the government to put the transition to the new regime in abeyance. The new form for tax deductors — those responsible for deducting tax while making a payment — came into force from April 1, 2009. According to the new rules, deductors have to deposit the tax amount through online payment. The form prescribes tracking of every TDS transaction through a unique transaction number (UTN) that is to be provided at the time of e-payment of such tax. However, the government, a large deductor of tax itself, is not geared up for this change required by the tax body and cannot switch to e-payment mode completely, according to an official who didn’t want to be named. |
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