sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« General »
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004
 How salaried individuals can avail full potential of I-T benefits
 The Central Board of Direct Taxes unveiled new Income Tax Return forms for assessment year 2018-19 on 5 April. Although the manner of filing returns remains the same as compared to last year, certain changes have been incorporated in the new ITR forms.
 Income Tax efiling: Must-do steps to file your IT return for FY 2017-18 on time till you get Form 16
 What are the tax filing deadlines for financial year 2017-18?
 How income tax department can penalise you for under-reporting, misreporting income
 Start your tax planning right now
 Government confident of meeting fiscal deficit, tax revenue targets
 Clarification with respect to the E-way Bill System
 Here is how you can save on taxes

Income Tax to make staff's work less taxing
March, 14th 2011

In a bid to reduce the burden on officials, the Income Tax Department is planning to outsource record management to private entities.

Under the proposal, a private party will handle the departments records, including returns and those pertaining to tax disputes.

A senior department official told Business Standard the plan was formulated at a meeting of the Central Board of Direct Taxes on February 18. Action is to be initiated immediately by DG (Logistics), the official said.

He said the work was likely to be handled by either a single company or a consortium. The task of managing tax records through the country would be huge and more than one company might be required, said the official.

It is a good move. The officials should focus on tax collection and avoiding unnecessary litigation, said KPMG Executive Director Vikas Vasal. He said with adequate safeguards, the model should work well and reduce the burden on the tax authorities.

On concerns over the confidentiality of tax records, he said, I dont think its such a big issue. When PAN (permanent account number) work was outsourced, there was a hue and cry, but it has made everybodys life easier.

The main task of the private player will be to maintain records of income tax returns filed manually and management of records pertaining to scrutiny cases and tax disputes at various levels.

Department officials will oversee the work. A central team will look after the implementation of record management and local teams at different commissionerates will operate at the ground level. It will be an assembly line system, with I-T officials working as the front office, said the department official.

He added the department would ensure secrecy and security of records. There will be segments handling individual work and nobody, apart from the officials, will have full information about a particular tax-payer, he said.

The number of income tax-payers in the country is about 35 million. It is expected to reach around 80 million by 2015. Considering that a substantial number of tax-payers file returns manually, managing records has become a major task for the department.

The department says it requires about 12,000 officials just for scrutiny cases. At present, around 4,000 offcials are handling 7,00,000 scrutiny cases a year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions