Excelsior Correspondent
JAMMU, Feb 18: – A delegation from the Professional Cell of the J&K BJP Unit, led by convenor, CA. Deepak Kapahi, met Rajya Sabha MP, Sat Pal Sharma CA at the BJP Headquarters here, today.
The meeting complimented Sharma for his recent intervention in Rajya Sabha regarding the challenges faced by taxpayers due to restrictions on Tax Deducted at Source (TDS) corrections.
During the meeting, the delegation highlighted the ongoing difficulties arising from the amendments to Section 200(3) of the Income-Tax Act, 1961, introduced by the Finance (No. 2) Act, 2024. These changes, effective from April 1, 2025, impose a six-year limit on filing TDS correction statements, leading to mismatches in TDS credits, inflated tax demands, and undue penalties for both deductors and deductees. The representatives commended MP Sharma for championing this issue in Parliament and advocating for relief measures, such as a one-time condonation window under Section 119 of the Income-Tax Act.
Sat Pal Sharma assured the delegation of his unwavering commitment, stating, “I will continue to raise matters concerning the business community strongly on appropriate parliamentary platforms and make persistent efforts for their resolution.”
CA. Deepak Kapahi, convenor of the Professional Cell, remarked, “We are deeply appreciative of Sat Pal Sharma’s proactive stance in addressing TDS-related hardships in Rajya Sabha. The meeting reinforces our confidence that the Government will prioritize easing compliance burdens for honest taxpayers, aligning with the vision of ease of doing business.”
The delegation included CA. Amit Gupta, Kuldip Sudan, Neeraj Dewan, Dr. Virender Sambyal, CA. Jitesh Arora, CA. Ritesh Gupta, and CA. Lalit Gupta, CA. Mohit Mahajan and CA. NitinMahajan.
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