Another institution was advised that if it could not calculate the exact TDS number for March 31, it could pay an amount which was close to the TDS of the previous quarter. Besides salaries (on which TDS rates depend on income slabs), banks with large branch networks pay TDS of 10% on rent.“Any such CBDT circular directing commissionerates to advance the date for submitting TDS can only be a temporary solution. If the tax liability for this year has to be discharged before March 31, it would result in lower the collection next year. Moreover, the instruction was issued too late,” said senior chartered accountant Dilip Lakhani.In the past tax officials had requested assesses to pay the TDS in advance. But persons receiving such notices would have to go through the pain of explaining their respective cases,” said another practitioner.

Source: Economic Times April 02, 2018 01:18 UTC