« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals «  No extension of IT return date... Noose to tighten on tax truants... » 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.