Financial Daily from THE HINDU group of publications
Thursday, Jan 08, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Government - E-Governance
Industry & Economy - Income Tax


CBDT move to demat tax challans

Our Bureau

New Delhi , Jan. 7

THE Central Board of Direct Taxes (CBDT) does not want the "income-tax challan" to go the "stamp-paper" way.

It is planning to phase out tax payment challans from the system with effect from April 1, 2004.

"We are planning to dematerialise tax challans. The proposed system will also give us an assurance that there is little room for manipulation. Tax collections runs into thousands of crores and we need to be sure that there is no scope for any fakes or manipulation," CBDT Member, Mr B. Swarup, told newspersons here.

The CBDT on Wednesday also announced the selection of professional services firm Ernst & Young and NSE.IT, the IT subsidiary of the National Stock Exchange (NSE), to be the technology advisors for the ongoing technology initiative of the tax department that aims to provide online facilities to all taxpayers under the "Taxnet" scheme.

The CBDT has also appointed National Securities Depository Ltd (NSDL) as the e-TDS intermediary. With this appointment, corporates can now file their Tax Deduction at Source (TDS) returns electronically through NSDL.

More Stories on : E-Governance | Income Tax

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Cabinet okays norms for PSU wage negotiations


Cabinet clears Central legislation for SEZs
Cabinet okays social security scheme for unorganised workers
CBDT move to demat tax challans
6,000 rural e-Seva kiosks to be run by self-help groups



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line