
Banks may find I-T a lot easier.
by
anshul
on Thu 16 Feb 2006 03:55 PM IST
PUNE/MUMBAI: Banks may find it a lot more easier from the coming fiscal year to comply with the obligation to provide tax authorities the list of depositors who earn interest on their fixed deposits but fail to report it while filing their tax returns. This anti-tax evasion measure, the biggest of its kind unveiled by the government in the Budget ’05-06, has not taken off yet because banks have found it tough to collate this information at frequent intervals.
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