The Income Tax Department Is Stepping Into New Areas Of The Economy To Combat Tax Cheating
To combat tax evasion, the Income-Tax department is expanding into “new areas” of the economy, according to CBDT Chairman Nitin Gupta. At the same time, its investigation divisions are using analytics to sift through voluminous data on Indians who own assets abroad. The Central Board of Direct Taxes, the administrative body for the tax department, performs search and seizure operations to hunt for cases of tax evasion in addition to performing its regular function of collecting money for the government under the direct taxes category....