sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?
 How to e-verify your income tax return? Here are five ways to do it

IT department to check tax-evaders
March, 29th 2010

To outsmart tax evaders who resort to delete their financial data or hide it in password-protected devices during search operations, the I-T department has started including portable forensic labs and experts in its team.

The department has unearthed links to more than Rs 1,000 crore money in the last few searches with the help of cyber forensics, according to sources.

The search teams now visit premises of assesses equipped with pre-wiped disks for imaging and cloning hard drives, portable labs for previewing computer hard disks, evidence bags and tags to pack, label and transport the imaged and cloned data to its labs.

Taxpayers and evaders have increasingly started using high-end softwares like 'logic bomb' which deletes all files as soon as investigators try to source information from the hardware.

While password protected CDs, DVDs, pen drives, MP3 players, ipods and SIM cards are used to store and conceal the voluminous records of transactions and payments to evade taxes, the sources said.

The department clones hard drives and other hardware in the presence of the assessee and prepares a 'panchnama' with the help of forensic experts drawn from the department or hired from outside. An on-the-spot seizure of the electronic data is necessary after instances of "zero storage" happened when the seized hardware was re-opened in department's forensic labs, they said.

The I-T authorities, in a recent search conducted on a prominent food and spices manufacturer of the country, was faced with a unique problem when the assessee provided a limited number of account books to the department admitting a lower tax liability.

The cyber forensic team then went through the companies numerous hard drives and ferreted out the hidden account books resulting in disclosure of transactions to the tune of Rs 15 crore, the sources said.

The department also recovered Rs 74 crore of concealed income from an on-spot analysis of servers when searches were conducted on a popular apparel brand.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions