TDS collection in Mumbai up by 20%

Even as the rest of the country reported lesser collection of tax deduction at source (TDS) this year, collection of TDS in Mumbai rose by 20.6%. HT reports.

Even as the rest of the country reported lesser collection of tax deduction at source (TDS) this year, collection of TDS in Mumbai rose by 20.6%.

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The TDS collection in the city for the current financial year is Rs 18,868 crore till now — Rs 3,225 crore more than that in the previous year for the same period.

This year’s TDS collection for all of India is Rs92,404 crore — Rs5,310 crore or 5.4% less than last year’s collection. The contribution of Mumbai TDS wing to the overall income tax collection in the city is around 40%. This year’s overall I-T collection in Mumbai so far is Rs 47,825 crore.

Commissioner of income tax, TDS, Mumbai, AC Shukla said in 19 surveys conducted this year on different sectors, they found TDS violations worth Rs 448.31 crore.

Those surveyed include advertising agencies, telecom companies, financial service providers, port development agencies, computer software distributors and leather goods retailers.