'TDS is very tedious'

When the taxman tethers TDS to a time machine

TDS or tax deducted at source has been a bone of contention between the taxpayers and the taxman for sometime now. Failure to comply with TDS provisions results in possible disallowance of expense in the hands of the payer (or entity), besides interest and penal consequences. Naturally, most people believe in the old saying - TDS is very tedious, comments Mr Arvind Singhal, a Delhi-based chartered accountant.

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