​​​
  1. Income Tax department saves over Rs 977 crore in 5 years; here is how

Income Tax department saves over Rs 977 crore in 5 years; here is how

The Income Tax department has saved a whopping over Rs 977.54 crore in five years thanks to email. The department has doubled its email conversation with taxpayers since 2013-14. The tax department has saved Rs 212.27 crore on postage cost in 2017-18 (till December 31).

By: | New Delhi | Published: April 23, 2018 8:10 AM
it department email id According to the Finance Ministry data, the tax department has saved Rs. 140.91 crore in 2014-15, 348.55 crore in 2015-16, 177.36 crore in 2016-17 and 212.27 crore in 2017-18.

The Income Tax department has saved a whopping over Rs 977.54 crore in five years thanks to email. The department has doubled its email conversation with taxpayers since 2013-14. The tax department has saved Rs 212.27 crore on postage cost in 2017-18 (till December 31), according to The Indian Express report. According to the Finance Ministry data, the tax department has saved Rs. 140.91 crore in 2014-15, 348.55 crore in 2015-16, 177.36 crore in 2016-17 and 212.27 crore in 2017-18.

According to data, 14.15 crore e-mails were being sent to taxpayers in 2017-18, as compared to 11.82 crore in 2016-17, and 6.56 crore in 2013-14. It has been learnt that the rise in online communication was witnessed in 2015-16. In 2015-16, the tax department rolled out paperless assessment across the country.

It has been leart that the Central Processing Centre (CPC) for Income Tax returns has so far sent around 73.73 crore digitally signed intimations by email. Apart from these around 67.96 crore SMS alerts and around 4.17 crore intimations by conventional speed post across the country. The tax department has calculated the savings on postage cost by taking the average cost per speed post or ordinary post as Rs 15. The CPC processed about 5.62 crore Income Tax returns in 2017-18 as against 4.57 crore returns during the previous fiscal. In addition, the CPC has processed 1,25,978 wealth tax returns electronically.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top