https://www.indiatoday.in/india/story/mumbai-income-tax-department-unearth-tds-scam-worth-rs-3-200-crore-1182010-2018-03-05
This! Every individual and organisation having to collect tax on behalf of the government is the grossest stupidity imaginable. Of course people will run away with tax money they collected for the government. But what is vastly more prevalent, is people being ignorant about TDS laws and procedures, and screwing up when making payments. You have to (a) know when to deduct tax and (b) know how to submit that tax to the government.
I can have a consultant help me file my year end taxes. But I can't have a consultant sitting next to me, guiding me, every time I pay someone for something. That is simply ridiculous.
A quick Google search suggests that India might be the only country with this abomination. Why do we keep doing this to our citizens? https://en.wikipedia.org/wiki/Tax_Deducted_at_Source
Advance tax on salaries is a worldwide phenomena. But in India they should seriously consider having the bank do the collection and deposit.
This! Every individual and organisation having to collect tax on behalf of the government is the grossest stupidity imaginable. Of course people will run away with tax money they collected for the government. But what is vastly more prevalent, is people being ignorant about TDS laws and procedures, and screwing up when making payments. You have to (a) know when to deduct tax and (b) know how to submit that tax to the government.
I can have a consultant help me file my year end taxes. But I can't have a consultant sitting next to me, guiding me, every time I pay someone for something. That is simply ridiculous.
A quick Google search suggests that India might be the only country with this abomination. Why do we keep doing this to our citizens? https://en.wikipedia.org/wiki/Tax_Deducted_at_Source
Advance tax on salaries is a worldwide phenomena. But in India they should seriously consider having the bank do the collection and deposit.