TDS survey at Saluja Saree Centre

Ludhiana, October 19, 2016: The TDS wing of the Income Tax Department, Ludhiana conducted a TDS survey at Saluja Saree Centre at Ghumar Mandi under the supervision of Joint Commissioner of Income-tax Dr. Tarundeep Kaur. The officers namely Dr.Gagan Kundra, DCIT(TDS), Shri Vasudev Sharma, ITO(TDS) were present on the premises alongwith the staff of the department. During the inspection it was found that the party is not paying tax deducted on rent paid in the Government account. It tantamounts to a major TDS default. The assesse was appraised of the serious consequences of this default. It attracts prosecution provisions u/s 276B. Also the cash book and ledger alongwith bills and vouchers were scrutinized to examine the compliance of the TCS provisions related to cash sales/purchases.
The department is sending a strong message to the TAN holders to take care of the TDS provisions and deposit the TDS deducted timely, else it attracts prosecution provisions which can lead to severe penalties including imprisonment. Further, the latest TCS provisions also attract penal provisions for Cash Sale above Rs.2 lakhs (except jewellery). The department will be conducting further such surveys/inspections to enforce these provisions. This is a part of the drive of the Income-tax department to curb the usage of black money as well as to widen the tax base. The TDS wing Ludhiana is taking such steps under the guidance and supervision of Shri Y.K.Singh, CIT(TDS)-I, Chandigarh.