E-Filing and E-Payment of Taxes, Web-based facility for tax Payers to track Resolution of Refunds


IT Initiatives: E-Filing and E-Payment of Taxes, Web-based facility for tax Payers to track Resolution of Refunds 

CBDT to Set up Eight more Aaykar Seva Kendras in 2011-12
Various tax initiatives have been taken in the Union Budget 2011-12 for efficient tax administration. Presenting the Budget in the Lok Sabha, Finance Minister Pranab Mukherjee highlighted the initiatives including e-filing and e-payment of taxes, adoption of ‘Sevottam’ concept by CBEC and CBDT, web based facility for tax payers track the resolution of refunds and credit for pre-paid taxes and augmentation of processing capacity. 

The on-line preparation and e-filing of income tax returns, e-payment of taxes through 32 agency banks, ECS facility for electronic clearing of refunds directly in taxpayers’ bank accounts and electronic filing of TDS returns are now available throughout the country. 

The ‘Sevottam’ concept has been adopted by both Boards i.e. CBDT and CBEC. The pilot projects of Aaykar Seva Kendras (ASKs) under CBDT have come of age. CBDT will commission eight more such centres this year. In 2011-12, another fifty ASKs will be set up across the country. CBEC has also launched a similar initiative and four of their pilot projects have been commissioned. 

The Centralized Processing Centre (CPC) at Bengaluru has increased its daily processing capacity from 20,000 to 1.5 lakh returns in 2010-11. Two more CPCs will become operational in Manesar and Pune by May 2011 and a fourth CPC will come up in Kolkata in 2011-12. 

The electronic filing of tax deduction at source (TDS) statements has stabilized and soon there will be provision for salary tax payers to not file income tax returns as their tax liability is being discharged by their employer through TDS. 

As a measure to increase the level of service CBDT will provide a web-based facility to enable tax payers to report and track the resolution of the refunds and credit for pre-paid taxes. 

Quality of Governance to be improved through Performance Monitoring and Evaluation System (PMES)


Quality of Governance to be improved through Performance Monitoring and Evaluation System (PMES); 62 Departments already Covered

The Union Budget 2011-12 seeks to improve the quality of governance through strengthening Performance Monitoring and Evaluation System (PMES). The Finance Minister Shri Pranab Mukherjee said in Lok Sabha that as per the recommendations of Second Administration Reforms Commission, the Government has set up a PMES to assess the effectiveness of Government departments in their mandated functions. It involves preparations of a Results Framework Document (RFD) by each department, highlighting its objectives and priorities for the financial year and achievements against pre-defined targets at the end of the year. This document would be available for public information on the departmental websites. In the first phase, 62 departments have been covered under PMES.

Exemption Limit for Individual Tax Payers Raised to Rs.1,80,000


Exemption Limit for Individual Tax Payers Raised to Rs.1,80,000 

Qualifying age for Senior Citizens Lowered to 60 Years 
Senior Citizens above 80 Years to Get Exemption upto Rs. 5,00,000
The exemption limit for the general category of individual tax payers has been enhanced to Rs. 1,80,000 from Rs. 1,60,000 in the General Budget 2011-12, presented by the Union Finance Minister, Shri Pranab Mukherjee in the Lok Sabha today. The measure will provide a uniform tax relief of Rs. 2,000 to every tax payer of this category, besides moving closer to Direct Tax Code (DTC) rates.

Qualifying age for Senior Citizens has been reduced from 65 years to 60 years and exemption limit for Senior Citizens has been enhanced from Rs. 2,40,000 to Rs. 2,50,000. A new category of Very Senior Citizens, 80 years and above, has been created who will be eligible for a higher exemption limit of Rs. 5,00,000. 

All india Consumer Price index Numbers for industrial workers on base 2001=100 for the month of January, 2010


All india Consumer Price index Numbers for industrial workers on base 2001=100 for the month of January, 2010

            All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of  January, 2011 increased by 3 points and stood at 188 (one hundred and eighty eight).
            During January, 2011, the index recorded an increase of 11 points each in Bhopal and Jamshedpur centres, 10 points each in Amritsar, Bangalore and Chandigarh centres, 8 points in Haldia centre, 7 points each in Nasik, Kodarma and Ghaziabad centres, 6 points in 2 centres, 5 points in 4 centres, 4 points in 12 centres, 3 points in 15 centres, 2 points in 8 centres and 1 point in 7 centres. The index decreased by 4 points in Godavarikhani centre, 1 point in 9 centres, while in the remaining 11 centres the index remained stationary.
            The maximum increase of 11 points each in Bhopal and Jamshedpur centres is mainly on account of Housing Index and increase in the prices of Rice, Wheat Atta, Milk, Goat Meat, Onion, Vegetable & Fruit items, Petrol, etc. The increase of 10 points in Amritsar, Banglore and Chandigarh centres is due to Housing Index and increase in the prices of Rice, Wheat, Wheat Atta, Onion, Vegetable & Fruit items, Electricity Charges, Petrol, etc. The increase of 8 points in Haldia centre is due to Housing Index and increase in the prices of Eggs, Onion, etc. However, the decrease of 4 points in Godavarikhani centre is the outcome of decrease in the prices of Rice, Vegetable & Fruit items, etc.
            The indices in respect of the six major centres are as follows :

1. Ahmedabad  183
 2. Bangalore   196
3. Chennai      172
4. Delhi          173 
5. Kolkata     180
6. Mumbai      187
  
            The All-India (General) point to point rate of inflation for the month of January, 2011 is 9.30% as compared to 9.47% in December, 2010. Inflation based on Food Index is 10.22% in January, 2011 as compared to 7.98% in December, 2010.

Recent Posts

Popular Posts