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Need to move towards tech-driven tax administration: FM

Feb 23 2013, 14:26 IST
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P Chidambaram today said there is need to move towards a technology driven tax administration. (Reuters) P Chidambaram today said there is need to move towards a technology driven tax administration. (Reuters)
SummaryP Chidambaram today said there is need to move towards a technology driven tax administration.

returns filed online by Indian citizens since 2008. Till date, it has successfully processed more than 30 million tax filings and related

refunds, the company said.

In 2011, the income tax department selected Infosys as its managed services provider to facilitate central processing of TDS filings by business entities.

As part of this new agreement, Infosys provides comprehensive services to the department including technology infrastructure, maintenance, and upgrade of applications for the tax deduction reconciliation, analysis, and correction

enabling system, better known as TRACES, the statement said.

The new centralised system will enable real-time reconciliation of TDS filings and refund claims, instant detection of erroneous claims and faster payment of verified

claims, and significant savings for the government by reducing the interest accumulation on delayed tax refunds.

"The launch of the new CPC will play a key role in increasing the efficiency of tax filing for entities and processing of TDS for the Income Tax Department. We are

delighted to partner with the ITD in their endeavour to improve the tax-payer experience in India," Infosys Head (India Business) C N Raghupati said.

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