The Hindu Business Line : Tax assessees can access e-ledger accounts from Feb 1

COME February 1, tax deductees would be able to access their electronic ledger accounts, maintained by the Income-Tax Department, through a password driven system.

This access is likely to be made available for a one-time registration fee of say Rs 50 per assessee, Mr S.S. Khan, Director, Income-Tax (Systems), told an industry gathering at a workshop on tax deducted at source (TDS) organised by the PHD Chamber of Commerce and Industry.

Such an access would enable the deductees to corroborate and verify whether the taxes deducted under the income-tax law have actually been paid to the exchequer to the credit of the deductee or not.

Mr Khan said that the Income-Tax Department would come up with an elaborate list of procedures to guide the deductees in situations of mismatch between the amounts deducted and those reflected in the electronic ledger account.

For the year 2004-05, the Income-Tax Department had received 5.10 lakh e-TDS returns involving about 12 crore transactions.

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Tax assessees can access e-ledger accounts from Feb 1