IT department to make best use of big data
Posted on: 03/Apr/2019 2:27:43 PM
With the IT infrastructure for profile access is all set with complete functionality, the IT department is gearing up to make use of big data 2019-20 for finding tax evaders.
The department makes use of ‘Project insights’ for identifying those who evade taxes. With this, the evaders will be sent with SMS, phone calls and mails and insist upon following the tax laws. The system is to be implemented from this new financial year. Government officials in fact add that a few measures for the project have already begun.
The data thus obtained through project insights involves those which the assesses should have declared, but have not yet done. This will help the tax officials in multiple ways including persuading the defaults to file returns, officials say.
After the implementation of Goods and Services Tax back in 2017, there is exhaustive collection of data which can be used for tax compliance. This includes various economic transactions. Initially, the manufactures who sell for more than Rs 20 lakh were bound to do the GST registration. The earlier limit was set at Rs 1.5 crore.
