Information technology has changed life beyond imagination. For example, cyber treasury has made the process of depositing tax quite easy. With this facility in place long queues before offices for depositing tax are now passé.
The hazards of carrying cash are also gone. Tax may be deposited through cyber treasury 24x7. Earlier, the businessmen had to send their employees with cash to deposit the tax and the latter would do it at their convenience, thereby causing inordinate delay.
All these advantages explain the fast growing popularity of cyber treasury in the state. The rapidly growing popularity of cyber treasury can be brought out by the fact that in year 2007, when it was launched, only Rs 16 crore was deposited through 24,477 transactions. Now the number of transactions has gone up to 25.77 lakh in year 2013-14 through which an amount of Rs 14,233 crore was deposited.
A couple of days before another facility has been added to the system. With this the challan number of cyber treasury would be instantly available to those depositing government tax or fee online. They would not be required to wait for two days for confirmation. The depositor would be able to have a print of treasury challan number and challan sitting at home. The print out of can be submitted as challan to concerning departmental officer immediately.
Besides, the depositor would get the prescribed service within no time. The most important feature of this facility is that cyber treasury has been linked to common e-challan. Following this public facilitation centres like MPOnline kiosk can be linked to cyber treasury. The depositor may deposit the amount at any kiosk.
When the cyber treasury was started only one bank was linked to it. Now 10 banks are linked with this facility. These are State Bank of India, Punjab National Bank, Bank of India, Central Bank of India, Union Bank, Uco Bank, Vijaya Bank, Allahabad Bank, Axis Bank and ICICI bank.