Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: list of goods taxed at 4% :: form 3cd :: VAT RATES :: cpt
 
 
News Headlines »
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions
  Mentioning of Minor Head Code for accounting of Refund

I-T Dept gearing up to check tax evasion
July, 19th 2007
The Income Tax Department is gearing up to prepare a 360-degree tax profiling of individual tax payers in the country to keep a tab on tax evasion and money laundering.

"Finance Minister has given a go-ahead for integrated 360-degree mapping of individual tax payers by utilising data collected from various sources like annual information returns (AIRs) from banks, credit cards, mutual funds, stock market and property registrars," a senior Finance Ministry official said.

Only yesterday, Finance Minister P Chidambaram had said that in the meeting of chief income tax commissioners, decision has been taken for integrated tax mapping. He, however, declined to give details about the project.

Sources said after a successful pilot project on integrated tax profiling in Delhi, the I-T department also has plans to prepare a huge data bank that would have all sorts of information on potential tax evading individuals and corporate houses.

The government has so far gathered information about Rs 60,00,000 crore investment by tax payers through AIRs. Under the tax mapping, the department plans to explore cases involving large scale tax evasion.

The sources said the Financial Intelligence Unit (FIU) under the ministry will also provide information about potential tax evaders, as it collects and analyses information about financial transactions through banks and other financial institutions.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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