Income Tax Department of India has been announced as per notification 2 and 3 of 2012 dated 04.01.2012 a Centralized Unique Processing of Return Scheme. For more details about Centralized Processing of Returns Scheme, 2011. Click here to download.
Showing posts with label Unique Tax System. Show all posts
Showing posts with label Unique Tax System. Show all posts
Unique Identification - Aadhaar
What is Aadhaar?
Aadhaar is a 12-digit unique number which the Unique Identification Authority of India (UIDAI) will issue for all residents. The number will be stored in a centralised database and linked to the basic demographics and biometric information – photograph, ten fingerprints and iris – of each individual. The details of the data fields and verification procedures are available here.
Why Aadhaar is required ?
Who can get an Aadhaar ?
An individual who is a resident in India and satisfies the verification process laid down by the UIDAI can get an Aadhaar.
How to get an Aadhaar ?
The process to get an Aadhaar will be circulated by the local media upon which residents need to go to the nearest Enrolment Camp to register for an Aadhaar. The resident primarily needs to carry certain documents which will be specified in the media advertisement.
Read More Click Here
What are the Usage of Aadhaar ?
Where is an Aadhaar Enrollments ?
Where an Aadhaar enrolments ?
Aadhaar Enrollment Application Form Click Here
Check Enrollment Status of an Aadhaar
Aadhaar is a 12-digit unique number which the Unique Identification Authority of India (UIDAI) will issue for all residents. The number will be stored in a centralised database and linked to the basic demographics and biometric information – photograph, ten fingerprints and iris – of each individual. The details of the data fields and verification procedures are available here.
Why Aadhaar is required ?
Who can get an Aadhaar ?
An individual who is a resident in India and satisfies the verification process laid down by the UIDAI can get an Aadhaar.
How to get an Aadhaar ?
The process to get an Aadhaar will be circulated by the local media upon which residents need to go to the nearest Enrolment Camp to register for an Aadhaar. The resident primarily needs to carry certain documents which will be specified in the media advertisement.
Read More Click Here
What are the Usage of Aadhaar ?
Where is an Aadhaar Enrollments ?
Where an Aadhaar enrolments ?
Aadhaar Enrollment Application Form Click Here
Check Enrollment Status of an Aadhaar
Is secure your Credit/Debit Card ? Check Security First.
Friends, Credit cards have become an integral part of our life, but concern about its security and vulnerability is an ongoing issue. Here is a look at the security features introduced by card issuers and banks in the current scenario.
Verified by Visa / Master card Secure Code:
A significant upgrade in credit card security features came with the introduction of ‘ verified by visa master card secure code programmer ‘or second factor authentication. It addresses the credit and debit card transaction over internet.
EMV chip:
The EMV chip addresses security concerns while the card is physically swiped in a machine. When card are swiped on an electronic device, all the information stored on its magnetic strip get extracted for verification. The magnetic strip facilitates the transaction where EMV processing is not available and at the same time data will not be skimmed.
Second Level Authentication for IVR Transaction:
Even through second –level authentication has been introduced for online transaction, telephonic transaction with interactive voice response (IVR) started using second –level authentication with a PIN or a password this year only.
Credit Card Protection:
If you happen to loss your wallet while traveling in India or abroad, earlier you need to call each card issuer separately to get the card blocked .To ease this situation, a solution in the form of Credit Card Protection (CCP) exists.
Stay Safe :
Although many security feature have been introduced, still you can be a victim of the most common trap -phishing. Beware of mails appearing like coming from your bank / card company asking for your card details or personal information.
So, as far as credit card transaction go, be cautions. Here are few pointers:
Verified by Visa / Master card Secure Code:
A significant upgrade in credit card security features came with the introduction of ‘ verified by visa master card secure code programmer ‘or second factor authentication. It addresses the credit and debit card transaction over internet.
EMV chip:
The EMV chip addresses security concerns while the card is physically swiped in a machine. When card are swiped on an electronic device, all the information stored on its magnetic strip get extracted for verification. The magnetic strip facilitates the transaction where EMV processing is not available and at the same time data will not be skimmed.
Second Level Authentication for IVR Transaction:
Even through second –level authentication has been introduced for online transaction, telephonic transaction with interactive voice response (IVR) started using second –level authentication with a PIN or a password this year only.
Credit Card Protection:
If you happen to loss your wallet while traveling in India or abroad, earlier you need to call each card issuer separately to get the card blocked .To ease this situation, a solution in the form of Credit Card Protection (CCP) exists.
Stay Safe :
Although many security feature have been introduced, still you can be a victim of the most common trap -phishing. Beware of mails appearing like coming from your bank / card company asking for your card details or personal information.
So, as far as credit card transaction go, be cautions. Here are few pointers:
- Type the URL , your self and don’t rely much on search engines as there are chances for clicking similar duplicate sites.
- Look for the prefix ‘https’ in the website, addresses. The ‘s’ in http stands for secured.
- Keep in mind that no bank/card company would ever ask for confidential information through email/ phone under any circumstance.
Unique Centralize System to Identify Tax coming Soon.
New Delhi, June 30 (PTI) In a bid to tighten the noose around defaulters, the Income Tax Department will set up a centralised system to identify entities which deduct tax at source but do not deposit it with the government. “This Centralised Processing Centre (CPC) would be set up to process TDS (tax deducted at source) statements and to identify the defaults and PAN errors…,” the Central Board of Direct Taxes (CBDT) said.
Besides, the idea behind creating the CPC is to develop a mechanism to rectify the defaults and errors in the process of TDS collection through intelligent technological aids and by persuading the deductors.
As per the income tax laws, entities, both corporate and non-corporate, are required to deduct tax at source while making payments to their employees and deposit the same with the government within a stipulated time period.
If a person or corporate entity fails to pay the deducted TDS to the government within the prescribed time, he could face rigorous imprisonment of 3 months to 7 years.
The CPC would identify TDS defaults, like non-payment, short payment, short deduction, late payment and others. TDS accounts form about 38 per cent of the total direct tax collection.
The Department would engage a Managed Service Provider (MSP) for setting up and managing the CPC for TDS.
“The selected MSP will create and operate the Centralised Processing Center (CPC) to process TDS statements for ITD,” a revenue official said.
The MSP would design and develop the required IT software.
“Any future requirements like change in IT Acts/Rules, including Direct Tax Code, which is likely to come into force in 2012, or any modification in tax Information network application will also need to be taken into account at the time of designing the software,” the CBDT said.
Besides, the idea behind creating the CPC is to develop a mechanism to rectify the defaults and errors in the process of TDS collection through intelligent technological aids and by persuading the deductors.
As per the income tax laws, entities, both corporate and non-corporate, are required to deduct tax at source while making payments to their employees and deposit the same with the government within a stipulated time period.
If a person or corporate entity fails to pay the deducted TDS to the government within the prescribed time, he could face rigorous imprisonment of 3 months to 7 years.
The CPC would identify TDS defaults, like non-payment, short payment, short deduction, late payment and others. TDS accounts form about 38 per cent of the total direct tax collection.
The Department would engage a Managed Service Provider (MSP) for setting up and managing the CPC for TDS.
“The selected MSP will create and operate the Centralised Processing Center (CPC) to process TDS statements for ITD,” a revenue official said.
The MSP would design and develop the required IT software.
“Any future requirements like change in IT Acts/Rules, including Direct Tax Code, which is likely to come into force in 2012, or any modification in tax Information network application will also need to be taken into account at the time of designing the software,” the CBDT said.
Source: PTI
