TDS wing, Ludhiana conducts Seminar

Ludhiana, November 7, 2016: A TDS Seminar was conducted by the TDS wing, Ludhiana at the leading hospital of the city, SPS Hospital. The Accounts of the hospital were scrutinized by the Deputy Commissioner of Income Tax, Dr.Gagan Kundra, Sh.Vasudev Sharma, Income Tax Officer along with the other staff. The team was led by Joint Commissioner of Income Tax, Dr.Tarundeep Kaur.

Earlier, last month the department had conducted a seminar for the hospitals in Ludhiana, apprising them of the latest TDS/TCS provisions and the common defaults seen in the working of hospitals. It has come to the notice of the department that there are issues like collection of TCS on cash receipts above Rs.2 lakhs, treating of AMC on medical equipments as Technical fee u/s 194J and the employment terms of full time and visiting doctors should be distinguished to tax them u/s 192 or 194J. All such issues were examined in depth. The cash bills were deeply analyzed for any discrepancies.

The bills were linked with the cash book of the hospital. Also, the team looked for any unaccounted income/payment/expenses on part of the hospital. The copies of relevant documents were obtained by the department for further analysis in due course. The TDS wing has expanded its mandate to book for TDS/TCS. Compliance issues on both the accounted as well as unaccounted incomes/expenditure of various entities, in the light of the focus of the Government to cure black money and through flow of cash in the economy.