I-T readies search engine to ferret out tax evaders
August, 02nd 2006
The Income Tax department is becoming tech-savvy and is designing its own search engine to track tax evaders. The search engine will use the Annual Information Return (AIR) data to catch evaders. The new software will help mine data on tax evaders from AIR.
The department, which has armed itself with the information about high value transactions - numbering 18 lakh through AIRs is all set to put it to use.
The Central Board of Direct Taxes (CBDT) is planning to create a special search engine which would be able to mine information about individuals who did not mention Permanent Account Numbers(PAN) in their high value transactions.
The search engine would be able to match details about individuals who have not mentioned PAN in the high-value transaction with the information from the returns available with the income tax department, according to the instructions issued to the field forces on use of AIR.