The South Indian Film Chamber of Commerce released a statement today on March 16 thanking Finance Minister, Nirmala Sitharaman for considering their request regarding the issues with TDS (Tax Deduction at Source) levied on distributors' income.
According to the statement, “"We thank Smt. Nirmala Sitharaman, Hon.ble Finance Minister, for giving us an opportunity to submit our memorandum and for patiently hearing out our problems concerning TDS percentages levied on distributors’ share and producers’ share.”
“The Minister appreciated that there are some crucial issues that need to be resolved. She instructed us to form a special committee within the film industry comprising of Ms. Sumathala, M. P., Shri Prahlad joshi, Hon.ble 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 chamber thanking the Minister, stated, “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.”