K'taka: Fin Min launches OLTAS with digital sign

Manipal, Aug 1: The Finance Ministry has introduced Online Tax Accounting System (OLTAS) with digital signature facility making the system more foolproof and avoiding any tampering or misuse from this year.

Inaugurating a three-year BBM Course (e-Banking and Finance) by Manipal Institute of Management (MIM), claimed to be the first of its kind in the country, Income Tax Additional Commissioner K Paramashivaiah said here today that the digital signature had made the system fully foolproof ruling out any possibility for cyber crimes.

The department had also introduced the e-filing of Income Tax returns from the current year which was hassle-free to the Income Tax assessees, he said.

The life-style had changed with the revolution and advancement in the field of Information Technology. ''With the periodic advancement in the IT which has entered almost all fields including banking and financial institutions, we need to equip ourselves with the changing advancement,'' he added.

Syndicate Bank General Manager B Pramod said almost all banks in the country were on a recruitment drive this year. Most of the bank employees, attaining the retirement age, would retire in the next five years opening up job opportunities to qualified youngsters.

UNI