June 3, 2013 8:38 PM

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IT Dept. to scan salary structure of top corporates, PSUs executives

The Income Tax department has decided to scan the salary structure of top executives of large corporates and PSUs to examine hidden tax opportunities in the perks and reimbursements made to them.

The department, during its recent deliberations with top I-T and CBDT officials in New Delhi decided to strengthen its Tax Deducted at Source (TDS) obtained from salaries of employees, regime in order to collect more revenue under this category.

It is particularly bolstered by the fact that a big chunk of 41 per cent, in the total tax collections in the last fiscal, came from the TDS category alone.

During financial year 2012-13, Rs. 2,30,188 crore tax was collected under the TDS category while the total direct taxes collections stood at Rs. 5,58,970 crore.

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