TDS 40 pc of total direct tax proceeds

TDS has become an important component of the Centre’s revenue mop-up efforts. In 2009-10, the total TDS collections stood at Rs 1.53 lakh crore, accounting for close to 40 per cent of the total direct tax collections of Rs 3.78 lakh crore (provisional) for that year. In 2004-05, the TDS component was 33 per cent of the total direct tax collections.

Mr Moorthy said the Income-Tax Department was yet to arrive at final figure of direct tax collections for 2009-10. “The final figures will be available in mid-May when all the transactions are compiled. As on date, we are somewhere around Rs 3.78 lakh crore,” he said.

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