https://www.taxtmi.com/article/detailed?id=9855 TDS deduction obligation requires the deductor to deposit withheld tax, file prescribed TDS returns and furnish a certificate specifying amount and rate; failure to issue within prescribed periods attracts a daily penalty. Taxpayers' consolidated tax statement enables reconciliation and credit claims. Given that consolidated records reflect deductions, the author proposes removing the mandatory issuance of separate TDS certificates and eliminating the penalty for non issuance to ease withholding agents' compliance burden. en-us Mon, 21 Jun 2021 10:29:47 +0530 Mon, 21 Jun 2021 10:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9855 TDS deduction obligation requires the deductor to deposit withheld tax, file prescribed TDS returns and furnish a certificate specifying amount and rate; failure to issue within prescribed periods attracts a daily penalty. Taxpayers' consolidated tax statement enables reconciliation and credit claims. Given that consolidated records reflect deductions, the author proposes removing the mandatory issuance of separate TDS certificates and eliminating the penalty for non issuance to ease withholding agents' compliance burden. Articles Income Tax Mon, 21 Jun 2021 10:29:47 +0530 https://www.taxtmi.com/article/detailed?id=9855