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Minister of State for Finance, Shri S.S. Palanimanickam affirmed in Rajya Sabha today that Government have approved setting up of the Phase-II of Tax Information Network (TIN) at a cost of Rs. 100 crores. It will begin from 01.07.2005. It consists of facilities for dematerialization of TDS certificates and electronic filing of Annual Information Returns. Dematerialization of TDS certificate will enable paperless filing of returns on internet.
Phase-I of TIN has become operational. It consist of facilities for ‘On Line Tax Accounting System’ and electronic filing of TDS returns.
The minister stated this in reply to a question raised by Dr. Vijay Mallya and Shri R.S. Gavai in Rajya Sabha today.
BSC/BY/DN-209/05
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