Showing posts with label E-filing. Show all posts
Showing posts with label E-filing. Show all posts
Excise Tax to go the e-way
E-filingThe Coimbatore Central Excise Commissionerate is preparing for the implementation of an e-governance project that is likely to be rolled out in a couple of months.
The Commissioner, C. Rajendiran, told The Hindu that Coimbatore was one of the eight commissionerates chosen in the country for the first phase of implementation of the Automation of Central Excise and Service Tax project.
With 2,000 Central Excise assessees, about 14,000 registered Service Tax assesses, excise revenue of Rs. 360 crore and Service Tax revenue of Rs. 324 crore, it was one of the “compact commissionerates.” It had 32 ranges in Coimbatore, Tirupur and Pollachi and the entire area would be covered under the project.
The project would have nine modules and seven of it would be assessee-focused. “Computerisation is not merely for data storage. It should facilitate service to customers.” Tasks such as registration, grant of permissions, refund and rebates and filing of returns would be available online with the implementation of the project.
Training programmes were on for the officers. Orientation programmes and workshops would be held for industrial associations.
Under the proposed project, the assessees would move over to the online system completely. “We are looking at 100 per cent comprehensive coverage.” The hardware required for the project would also be ready in a couple of months.
Source : Hindu
The Commissioner, C. Rajendiran, told The Hindu that Coimbatore was one of the eight commissionerates chosen in the country for the first phase of implementation of the Automation of Central Excise and Service Tax project.
With 2,000 Central Excise assessees, about 14,000 registered Service Tax assesses, excise revenue of Rs. 360 crore and Service Tax revenue of Rs. 324 crore, it was one of the “compact commissionerates.” It had 32 ranges in Coimbatore, Tirupur and Pollachi and the entire area would be covered under the project.
The project would have nine modules and seven of it would be assessee-focused. “Computerisation is not merely for data storage. It should facilitate service to customers.” Tasks such as registration, grant of permissions, refund and rebates and filing of returns would be available online with the implementation of the project.
Training programmes were on for the officers. Orientation programmes and workshops would be held for industrial associations.
Under the proposed project, the assessees would move over to the online system completely. “We are looking at 100 per cent comprehensive coverage.” The hardware required for the project would also be ready in a couple of months.
Source : Hindu
Pay Tax Online - No option left -RBI
E-filingMANDATORY FROM 1.04.08 for certain category of tax payers
1.All Corporates.
2.person other than corporate but covered under section 44ab(compulsory Tax audit)
The e-payment means pay the taxes through net facility /internet/net banking or Credit or Debit card .Payment Facility to taxes through credit and debit card is yet to be finalised by the banks though allowed by income tax deptt. /CBDT in his circular/rules.
Now RBI has come up with a circular to implement the scheme and instruct the banks "not to receive payment from the corporate assesse in physical challan at all".In circular its is strongly written in bold letters that"Assesses who's pan's 4th digit is "C" can not deposit tax in to bank branches manually,Physical challans from such assesses shall not be accepted across the counter.
Moreover in circular RBI has instructed the banks that in case of person covered under section 44AB and required to deposit tax online ,there is no indication in pan itself ,so in this case taxpayers words will be final.
but this circular has raised a question once again .
Whether tds should also be deposited online compulsorily ???????
Earlier its hotly debated whether TDS is also a tax and to be deposited online by such assessee,
In rules issued by the CBDT taxes means taxes as explained in section 2(43) ,
further instruction issued on website by income tax deptt "how to pay tax online"define e-payment of taxes as under.
All Direct Taxes e.g. Income Tax, Corporate tax, FBT, BCTT (TDS, Advance tax, self assessment tax) to be paid online using net banking facility
But what RBI circular says that forth digist of the pan of the corporate assesse is "C" and banks should not receive physical challan from such assessee .
But TDS(tax deducted at source) is deposited against a TAN ,and TAN has no indication whether it is of the corporate assesse or otherwise.so what we may conclude from RBI circular
that RBI thinks that TDS is not covered under the compulsorily online payment of taxes.
that RBI has just missed to mention about Tan.
1.All Corporates.
2.person other than corporate but covered under section 44ab(compulsory Tax audit)
The e-payment means pay the taxes through net facility /internet/net banking or Credit or Debit card .Payment Facility to taxes through credit and debit card is yet to be finalised by the banks though allowed by income tax deptt. /CBDT in his circular/rules.
Now RBI has come up with a circular to implement the scheme and instruct the banks "not to receive payment from the corporate assesse in physical challan at all".In circular its is strongly written in bold letters that"Assesses who's pan's 4th digit is "C" can not deposit tax in to bank branches manually,Physical challans from such assesses shall not be accepted across the counter.
Moreover in circular RBI has instructed the banks that in case of person covered under section 44AB and required to deposit tax online ,there is no indication in pan itself ,so in this case taxpayers words will be final.
but this circular has raised a question once again .
Whether tds should also be deposited online compulsorily ???????
Earlier its hotly debated whether TDS is also a tax and to be deposited online by such assessee,
In rules issued by the CBDT taxes means taxes as explained in section 2(43) ,
further instruction issued on website by income tax deptt "how to pay tax online"define e-payment of taxes as under.
All Direct Taxes e.g. Income Tax, Corporate tax, FBT, BCTT (TDS, Advance tax, self assessment tax) to be paid online using net banking facility
But what RBI circular says that forth digist of the pan of the corporate assesse is "C" and banks should not receive physical challan from such assessee .
But TDS(tax deducted at source) is deposited against a TAN ,and TAN has no indication whether it is of the corporate assesse or otherwise.so what we may conclude from RBI circular
that RBI thinks that TDS is not covered under the compulsorily online payment of taxes.
that RBI has just missed to mention about Tan.
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