Home > Business > PTI > Report

E&Y, NSE.IT to advise I-T dept

January 07, 2004 18:23 IST

The government said on Wednesday that it has appointed management consultant Ernst & Young and NSE's infotech subsidiary, NSE.IT, as its technology advisors for providing online facilities to all tax payers under the "taxnet" scheme.

Also, it has notified NSDL as the e-TDS intermediary through which Tax Deduction at Source can be filed electronically.

The "taxnet" scheme was initiated by the Department of Income Tax in 1994 and seeks to create a single repository of assessees nationally to simplify both, the tax administration and collection processes.

"The successful completion of this project will mark a watershed tax administration in the country. It will go a long way in enhancing tax efficiency for both officials and the assessees," CBDT member B Swarup told newspersons in New Delhi.

He also said that from April 1 this year, personal income tax payees will have to fill only two challans against four needed previously while TDS filing can be done electronically by both companies and individuals.

Swarup said the government will also ensure that tax consultants, chartered accountants etc are allowed to act as intermediaries from April 1 this year so that personal return filing is simplified even further.

Article Tools
Email this article
Print this article
Write us a letter



Related Stories


Advance tax may come under lens

Cable operators evading tax

How to pick the best tax plan



People Who Read This Also Read


Margin trading from Feb 1: Sebi







© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.











Copyright © 2003 rediff.com India Limited. All Rights Reserved.