Will the Government remove 10% TDS on distributors' share?

Source :SIFY
Last Updated: Tue, Mar 17th, 2020, 16:32:48hrs

Representatives of South Indian Film Chamber of Commerce met Finance Minister Nirmala Sitharaman to talk about the 10% TDS charges levied on distributors and producers' share above the existing GST.

"We First thank Smt. Nirmala Sitharaman, Hon.ble Finance Minister for giving us an opportunity to submit our memorandum and patiently heard our submission and problems of TDS percentage levied on distributors’ share and producers’ share. Honorable Minister understood that there are some crucial issues and has to be resolved and instructed to form a special committee with film industry comprising of  Ms. Sumathala, M. P., Shri Prahlad Joshi, Honourableble Minister for Parliamentary Affairs and Mines and Coal, Shri K. Raghu Rama Krishna Raju, M.P., Mr. Katragadda Prasad, Mr. Ravi Kottarakara, Mr. C. Kalyan, Mr. D.R.  Jairaj, Mr. Sa. Ra. Govidu, Mr. Rockline Venkatesh, Mr. K.C.N Chandrashekar, Mr. K. L. Damodar Prasad to discuss and resolve the above issues. The entire film industry is thankful to our Honourable Finance Minister for giving this opportunity and for the keen interest to resolve the problems of the film industry", read the official statement, the South Indian Film Chamber of Commerce.

Earlier, the distributors association said that they are not going to buy any new films until the Government reconsiders the 10% TDS from the new financial year.