Salil Parekh, CEO and managing director of the country’s second largest software services firm which has been tasked by the government of India to run the Income tax portal of the country said on Wednesday that over the past month, the portal has been further bolstered, the system has seen steady increase in usage over the past few weeks, and the taxpayers concerns are being progressively addressed.
“Over 18 crore logins have been observed on the portal and approximately 3.8 crore users have successfully completed various transactions,” said Parekh while announcing the company’s financial results for the quarter ending September 2021.
He also said that the income tax return forms are all functional and most of the statutory forms are available on the system.
“The system is seeing somewhere between two and three lakh returns being filed each day… From the previous assessment year, 96% of the returns have been processed for the current assessment year; over one crore returns have already been processed, which was part of the benefit of this new approach, integrated system with the filing and the processing. To ensure a smooth filing experience for the users, Infosys has continuously engaged with more than 1200 individual taxpayers.
“Over the last several months, we’ve also been working closely with the Chartered Accountant community. We ensure that a comprehensive set of user scenarios are supported and thoroughly tested before deployment. We remain committed to making further progress, and we are confident of ensuring a seamless experience for all the taxpayers.”
STARTUP ROCKSTARS IN 2021
Sign-in to see our list of the most promising startups of 2021
Since the portal went live on June 8, taxpayers have faced technical glitches, errors and challenges in accessing the portal or several functions within the website, drawing their ire as well as that of the finance ministry.
Infosys was given time till September 15 to fix the glitches and get the system right. The finance ministry summoned Parekh in August asking him to explain why glitches in the nation’s new electronic tax filing portal have not yet been fixed.
“We take pride in partnering with the Government of India, and continue to work closely with various departments to accelerate the digital evolution of the country’s technology capabilities on the GST as well. We are working very closely with the Department… These are situations that come up when we look at an address on an ongoing basis,” said Parekh.
Infosys reported better than expected profit and revenue numbers on the back of strong demand and revised its revenue guidance upwards from 14-16% to 16.5%-17.5%.
It reported 11.8% year-on-year growth in its consolidated net profit for the quarter ended September to Rs. 5,421 crore on Wednesday. Infosys reported 20.5% year-on-year growth in consolidated revenue to Rs. 29,602 crore.
The numbers outperformed Street expectations which estimated the company to report 7.5-9.5% profit growth and 18.5-20% revenue growth on a year-on-year basis respectively.
On a sequential basis net profit grew by 4.3 percent compared to Rs. 5,195 crore in Q1 and revenue grew by 6.1 percent compared to Rs. 27,896 crore in Q1. On a year-on-year constant currency basis revenue improved by 19.4 percent and 6.3 percent sequentially.
For all the latest Technology News Click Here
