The Indian income tax department is close to implementing an online tax filing system that will allow taxpayers to file their returns from a network of centres around the country.
Reports in the Indian media this week have stated that a partnership between the income tax department and the National Securities Depository Ltd (NSDL) is near completion. A major aspect of the scheme is the creation of a nationwide network- using 10,500 commercial banks- which will house e-filing facilities. The system will also allow refunds to be credited straight into the taxpayer's account. The income tax department aims to pay these within four months of a tax return being filed.
B Swarup, a Member of the Central Board of Taxes, told the Business Standard recently that some R250 billion ($530 million) will be invested in IT infrastructure this year, in order to bring the system closer to international standards. “We have embarked on a major outsourcing drive of our non-core functions. As domestic tax rates are in sync with global trends, we are striving to come up to international standards on the services front,” the official explained.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment