New Delhi : 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, reports PTI.

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

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

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

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal