https://www.taxtmi.com/article/detailed?id=7918 Proposal to allow income recipients to elect alternative withholding rates for TDS/TCS, enabling either higher or lower deduction/collection than prescribed rates. Payees would notify the deductor/collector and may change the elected rate over time. Higher withholding would suit taxpayers with greater taxable capacity to reduce later advance or self-assessment payments; lower withholding would assist loss-making or high-cost taxpayers to avoid refunds. The mechanism is voluntary, intended to optimise timing of collections, reduce refund interest and compliance burdens, and remain revenue-neutral since residual advance tax and self-assessment obligations would address any shortfall. en-us Tue, 13 Mar 2018 07:25:21 +0530 Tue, 13 Mar 2018 07:25:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7918 Proposal to allow income recipients to elect alternative withholding rates for TDS/TCS, enabling either higher or lower deduction/collection than prescribed rates. Payees would notify the deductor/collector and may change the elected rate over time. Higher withholding would suit taxpayers with greater taxable capacity to reduce later advance or self-assessment payments; lower withholding would assist loss-making or high-cost taxpayers to avoid refunds. The mechanism is voluntary, intended to optimise timing of collections, reduce refund interest and compliance burdens, and remain revenue-neutral since residual advance tax and self-assessment obligations would address any shortfall. Articles Income Tax Tue, 13 Mar 2018 07:25:21 +0530 https://www.taxtmi.com/article/detailed?id=7918