The Additional Commissionerate of Income Tax, TDS Range-3, Chennai under the able guidance of Shri M Karthikeyan, IRS, Additional Commissioner of Income Tax, TDS Range-3, Chennai conducted Income Tax -TDS Awareness program, today (04-10-2024) for the Village Panchayat Presidents and its Secretaries coming under Mayilam Panchayat Union, at the Conference Hall of Mayilam Block Development Office, wherein, 47 Panchayat Presidents and its secretaries participated and benefitted.

          Shri Ramados, Block Development Officer delivered Welcome address.

          Shri Senguttuvan, Income Tax Officer, delivered Special Address. During his address, he has requested the Village Panchayat Presidents and its Secretaries to deduct Income Tax effectively on the Contract payments which are being extended under People Welfare Services.  Further, he has insisted the participants to remit their TDS / TCS dues into the Central Government account in time, to file the quarterly TDS / TCS statements within the stipulated time.

          Shri Rajaraman and Shri Sendhil Kumar, Income Tax Officers presented their deliberations by presenting PPTs, wherein, they requested the participants to adhere to the TDS / TCS provisions effectively and thereby participate in the Nation Building. 

Special focus on TDS on contract payments was made.  The participants were requested to deduct Income tax on contract payments and execute their duty in the following manner.

1.       Whenever, any payment (which is required TDS), is made by the Village Panchayat Presidents, under any Works Contract, TDS must be made u/s 194C of the Income Tax Act,1961

2.       PANs of the deductees / Collectees to be verified before release of payments and higher rates of deduction of tax u/s 206AA / 206CC & 206AB / 206CCA must be made on specified conditions

3.       Whenever, any scrap (which is required TCS), is sold, then, Income Tax must be collected

4.       Deducted / Collected Income Tax must be paid into the Central Government account in time

5.       TDS / TCS statements must be filed within the stipulated time

6.       Certificates must be issued to the deductees / collectees in a time bound manner

Shri Chittrarasan, Inspector of Income Tax and Shri Dayanithi, Senior Tax Assistant educated the participants on TRACES platform.

   

 

 

   

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