Income Tax Department Updates

☑The income tax department is open to lowering the withholding tax rate for foreign companies which have income in India, says CBDT chairman Sushil Chandra

☑The Central Board of Direct Taxes (CBDT) is open to suggestions on easing of tax deduction at source (TDS) rates, its Chairman Sushil Chandra has said.

☑Income tax scrutiny to remain limited despite ITR filings surge.

☑The income tax department will maintain the number of income tax returns (ITRs) chosen for scrutiny at the current level of less than 1% of all returns, in spite of a surge in individual tax filings to keep the process non-intrusive and taxpayer-friendly.

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