I-T dept goes for tech upgrade to tighten tax net
To tighten the noose around tax evaders and expand the tax net, the finance ministry is rolling out seven-eight big-ticket technology projects that would significantly bolster its capabilities. The projects, at various stages of implementation, would enable the income tax department to carry out a complete profiling of taxpayers.
The new capabilities would ensure seamless movement of information within the department. And, the business intelligence and trend analysis tools used to mine the data will make the department more “proactive than reactive” in nabbing tax dodgers. The department is also considering collecting transaction data from external sources such as the internet.
“The country’s tax base is not going up. If you look at our tax-to-gross domestic product (GDP) ratio, it is the lowest in the world,” said a senior official with a technology firm working with the government on some of the projects. “We, as a country, specialise in how to evade taxes. That’s the reason why the government is looking at using technology tools to check tax evasion in the country.” (SHARPER TECH EYES)
There are about 35 million taxpayers in the country. In 2012-13, the Centre’s tax to-GDP ratio stood at 7.8 per cent.
The Rs 200-crore income tax business applications project aims at refreshing and significantly upgrading the department’s entire existing technology. The department is also implementing a network project that would provide better connectivity across income tax offices, with higher speed bandwidth.
-----------------------------------------------------------------------------------------
Subscribe and Be Updated yourself
♥ Pulla Harsha Vardhan ♥
© pullaharshavardhan.blogspot.in ©
-----------------------------------------------------------------------------------------
To tighten the noose around tax evaders and expand the tax net, the finance ministry is rolling out seven-eight big-ticket technology projects that would significantly bolster its capabilities. The projects, at various stages of implementation, would enable the income tax department to carry out a complete profiling of taxpayers.
The new capabilities would ensure seamless movement of information within the department. And, the business intelligence and trend analysis tools used to mine the data will make the department more “proactive than reactive” in nabbing tax dodgers. The department is also considering collecting transaction data from external sources such as the internet.
“The country’s tax base is not going up. If you look at our tax-to-gross domestic product (GDP) ratio, it is the lowest in the world,” said a senior official with a technology firm working with the government on some of the projects. “We, as a country, specialise in how to evade taxes. That’s the reason why the government is looking at using technology tools to check tax evasion in the country.” (SHARPER TECH EYES)
There are about 35 million taxpayers in the country. In 2012-13, the Centre’s tax to-GDP ratio stood at 7.8 per cent.
The Rs 200-crore income tax business applications project aims at refreshing and significantly upgrading the department’s entire existing technology. The department is also implementing a network project that would provide better connectivity across income tax offices, with higher speed bandwidth.
-----------------------------------------------------------------------------------------
Subscribe and Be Updated yourself
♥ Pulla Harsha Vardhan ♥
© pullaharshavardhan.blogspot.in ©
-----------------------------------------------------------------------------------------
No comments:
Post a Comment