Released on: March 11, 2008, 3:03 am

Press Release Author: E-Lock Technologies

Industry: Accounting

Press Release Summary: E-Lock Technologies, a pioneer in the field of Digital
Signature Technology, today announced the launch of instaTDS, one of its kind
software, a simple & easy-to-use solution that helps any organization to issue
digitally signed Form 16s in no time, and a secure method for accessing,
controlling, and archiving these

Press Release Body: E-Lock Technologies, a pioneer in the field of Digital Signature
Technology, today announced the launch of instaTDS, one of its kind software, a
simple & easy-to-use solution that helps any organization to issue digitally signed
Form 16s in no time, and a secure method for accessing, controlling, and archiving
these.

E-Lock instaTDS solution saves time and efforts by automating the process of
issuance of TDS certificates and reducing paper processing costs. Using this
software the organizations can generate, sign and distribute all Form 16s at just a
click of the mouse. The employees receive the soft copies of the Form 16s by e-mail.


instaTDS is a web-based software; it is suitable for the large organizations and the
payroll service providers, who have to issue a huge number of Form 16\'s.

What the law provides?

The Indian Information Technology Act 2000 recognizes the use of Digital Signatures
as equivalent to Physical Signatures. Therefore, a digitally signed Form 16 has the
same legal validity as a physically signed one.

In addition to this, as per Circular No. 2/2007 dated 21/5/2007 from the Income Tax
Dept, \"The Central Board of Direct Taxes have, therefore, in exercise of powers
under section 119 of the Income-tax Act, 1961, decided for the proper administration
of this Act to allow the deductors, at their option, in respect of the tax to be
deducted at source from income chargeable under the head \"Salaries\" to use their
digital signatures to authenticate the certificates of deduction of tax at source in
Form 16.\"

Further, Tax deductees are no longer required to file a copy of their Form 16 along
with their returns to the Income Tax Dept. Hence the need for a paper-based Form 16
is eliminated

About E-Lock

E-Lock Technologies a pioneer in Digital Signature Technology, offers
state-of-the-art, legally compliant products & services to organizations &
professionals. These solutions ensure that business processes become more secure,
efficient and cost-effective. Digital Signatures provide authentication,
non-repudiation, integrity and confidentiality for documents, content and
transactions. E-Lock solutions seamlessly integrate with any existing application,
software or workflow.


For questions or inquiries about E-Lock\'s instaTDS please call 020-25538640 or email
info@elock.com. For additional information please visit http://www.elock.com



Web Site: http://www.elock.com

Contact Details: E-Lock Technologies
Contact Person: Abhijit Kale
Range hills road, Shivajinager, Pune India
Email Id: pr@elock.com
Phone No: +91-20-25538640