Monday, Apr 18, 2005
Monday, Apr 18, 2005 |
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Advts: Classifieds | Employment | Kerala
T. Ramavarman
GURUVAYUR: The Guruvayur Devaswom chairman, K. Velayudhan Nambiar, has said the Devaswom will appeal to the Union Government against the move of the Income Tax (IT) Department to levy TDS on deposits of the Devaswom in different banks. "We have already given a representation to the Union Finance Minister, P. Chidambaram, in this regard. I do not know why the IT Department has sent a fresh notice to banks initiating proceedings against them for not collecting the TDS on Devaswom deposits," Mr Nambiar told The Hindu . "I will talk to the Central Revenue Secretary, K.M. Chandrasekharan, on Monday to sort out the issue," he said. Meanwhile, Income Tax officials say they have issued the notice to banks in accordance with standard procedures. Banks can avoid collecting TDS on a deposit only if the depositor has submitted a certificate in that regard from the assisting officers of the IT Department. Or else, the depositor should submit a form under the 194 A 3 iii F of the IT Act .
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