TDS on e-commerce deals to hurt SMEs' working capital: Amazon's Agarwal

Agarwal was talking about the Budget proposal to introduce a new section in the Income Tax Act

The proposed levy of 1 per cent tax deducted at source (TDS) on e-commerce transactions, announced in the Budget this year, could impact the working capital of small businesses, said Amit Agarwal, country head of Amazon India, on Wednesday.
 
He was speaking at the 14th India Digital Summit of the industry body Internet and Mobile Association of India, where he is also the chairman.
 
“Just look at the recent Budget. There is an introduction of tax collected at source. These seem like harmless papercuts, but they impact the working capital of small businesses. If you look at how