« Top Headlines » Open DEMAT Account in 24 hrs  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal  How To Save Tax For Salary Above 15 Lakhs? «  `Waive sales tax on pea flour'... Tax dept takes note of ‘low’ incomewallahs in Jamshedpur... » Allowing post offices to accept IT returns questioned September, 18th 2006 The decision to allow post offices to accept income tax returns has earned the ire of the income tax officers union, which says the finance ministry could end up paying up to Rs 1,500 crore annually by 2011 for outsourcing the job. In a letter to the Central Board of Direct Taxes, the Income Tax Gazetted Officers Association said while the total cost of accepting and processing income tax returns costs the IT department a sum of Rs 51 per return, the postal department is being paid at the rate of Rs 100 per return and that too only for receiving it. "Is this outsourcing or is the Finance Minister being misinformed?, association secretary-general Rajesh Menon asked. He said at present, the total number of IT returns being filed in the country is 3.75 crore and the government is willing to spend Rs 375 crore for just receiving these returns. "As per the professed policy, the number of returns by the year 2011 is expected to be 15 crore and the corresponding expenses could be as high as Rs 1,500 crore", he said. In a government notification issued in July this year, postal department was authorised to accept income tax returns. It was decided that a payment of Rs 100 per return would be made to the department by the finance ministry.