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HYDERABAD: The Income-Tax Department has assured the banks the Department would extend all help to ensure smooth collection of taxes.

The assurance came from Mr P.A. Chowdary, Chief Commissioner of I-T (Hyderabad), the Department, at the 11th Annual Monitoring Committee meeting of CBDT transactions here on Saturday. The meeting was organised by State Bank of Hyderabad.

Ms Sujatha Prasad, Chief Controller of Accounts of CBDT (Central Board of Direct Taxes), asked the bankers to pass on the tax collections to the Government account at the earliest. Mr S. Thanga Raj, Deputy Controller of Accounts (CBDT-South Zone) presented the annual report for 2003-04.

Mr A.K. Das, Principal Chief Controller of Accounts, said the OLTAS (Online Tax Accounting System) would considerably reduce the time taken for movement of funds and ensure hassle-free services to the taxpayer.

More Stories on : Income Tax | Andhra Pradesh

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