A big challenge faced by organisations includes TDS compliance, a survey said, adding simplifying reporting under tax regulations would make reconciliations quicker and more efficient.

Tax teams at large firms spend 70% of time on average on tax compliance and want cross-utilisation of data collected by government agencies to cut down on reporting requirements, a Deloitte survey on 'Income-tax digitalisation in India' said.

The disproportionate amount of time spent by tax teams on tax compliance, more so in larger organisations, is an area of concern and needs to be addressed by way of discussion between the tax administration and taxpayers,” said the Deloitte survey. Tax teams in large, complex organisations, despite their enhanced use of technology in tax, spend a high proportion (around 70 per cent on average) on tax compliance.

Today's Headline in NewsHours
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