Mumbai, Feb 27: The Stock Holding Corporation of India (SHCIL) plans tointroduce a new service facilitating the preparation of returns and filingof income tax initially for its existing client base.The corporation has been planning to provide this service as an add-onservice to the clients at a minimal cost. SHCIL has already entered into amemorandum of understanding (MoU) with Munshikaka.com, a portal which offersaccounting and taxation services to manage personal finance and investmentto individuals.
The service offered by Munshikaka is unique and the offer of this servicewould be advantageous to the corporation in terms of retaining and enlargingthe client base. SHCIL would offer this service to its customer at aconcessional rates and would share the revenue with Munshikaka as thecorporation offers its clientele.
Munshikaka.com would be implemented within shcil.com environment to ensurethat the data relating to SHCIL's clients were not accessed by anybody elseand eliminate the investment required to be made by the corporation.
Initially, this service would be available in 8 offices, Mumbai, Delhi,Kolkata, Chennai, Bangalore, Hyderabad, Pune and Ahmedabad. Later SHCILwould extend the service to clients spread over the entire length andbreadth of the country.
The service is available both online and offline. SHCIL's client can accessshcil.com and file returns online or otherwise can visit SHCIL's offices inthese 8 cities.
Munshikaka offers four modules First Class, Fast Track, Pardes and ReadyMix. SHCIL is going to target Ready Mix, which is the simplest module andfacilitates computation of tax, preparation of returns and printing them. Asof now the corporation has nearly 7-lakh client base.
In order to encourage the clients to use the service, the corporation hasproposed to offer the service free of cost for the first financial year,2000-01.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
