CII says it's difficult for borrower to ask bank to explain source where loan is given to borrower, equally difficult for bank to determine exact source when it's raising funds from multiple sources.
The wide variety of TDS rates creates confusion for the taxpayers, increases compliance burden, and gives rise to characterisation disputes, says industry chamber CII.
Majority of them believe that the roles and responsibilities of IDs, as defined by the Companies Act, are unreasonable and the expectations are onerous.
The Sankalp Se Siddhi conference convened important stakeholders to deliberate on the country’s achievement in different areas of development and draw a roadmap for an advanced India by 2047.
The industry body has urged the central government to raise the CSR levy by an additional 1% for a period of 12 months to provide Covid-19 booster vaccines to the community.