By admin on Aug 19, 2011 with Comments 0
Govt developing computeraided tool to check tax evasion
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The government is developing a computer-aided investigation mechanism to deal with tax evasion cases, Parliament was informed today.
?The computer-aided investigation tool will assist in scrutinising computer-based accounts of tax payers,? Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha.
He further said that scrutiny assessments are carried out and completed as per the procedure prescribed under the Direct Tax laws. The software will enhance investigative capabilities of the Income Tax department.
However, he did not give any timeline by when the software would be developed.
To another query, Palanimanickam replied that the I-T Department has seized around Rs 2,283 crore as direct taxes over the last three financial years from tax evaders.
He said a total of 3,379, 3,454 and 4,852 warrants were executed from 2008-09 to 2010-11, in that order, fetching the department Rs 550.23 crore, Rs 963.50 crore and Rs 774.98 crore, respectively.
He added that so far as direct taxes are concerned, the I-T Department conducts seizure and survey operations based on the credible information on persons and entities who do not disclose possessions like money, bullion and jewellery.
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