Industry bodies urge FinMin to ease TDS rate structure

Proposal seeks to lessen compliance burden on taxpayers and avoid litigation

- ASIT RANJAN MISHRA

With the Budget to be presented in February next year, the Federation of Indian Chambers of Commerce and Industry (Ficci) and Confederation of Indian Industry (CII) on Thursday asked the finance ministry to simplify rates of tax deducted at source (TDS) to ease compliance burden on taxpayers and avoid litigation.

While submitting pre-Budget recommendations to Revenue Secretary Sanjay Malhotra, both industry bodies said the finance ministry should lay down a road map for rationalising TDS rates.