Negligence in tax deduction punishable:IT Commissioner

Vijayawada, May 29 (UNI)Commissioner of income tax, Vijayawada circle R C Pramanik today warned officials that negligence, ignorance or lethargy in Tax Deduction at Source (TDS) was a cognizable offence under the law of land.

Speaking at a seminar on 'TDS provisions' here, Mr Pramanik said either penalty or punishment or both would be imposed on IT officials responsible for loss of revenue to the government.

He said the scope of TDS was expanding and the officials who were involved in payments for contractors or suppliers should have a knowledge on the provisions as per law.

TDS is an easy source of tax collection for the government and any lapse was not tolerable, he added.

Central and state government officials, Managements of Educational Institutions and Private Financial Organisations from Krishna and Khammam districts participated in the seminar.

UNI