Income Tax department honing its strategies for effective searches
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The investigation wing of Income Tax(IT) department is sharpening its strategies to make search and survey procedures more effective, an official said.
"We are sharpening our strategies to such an extent that non-compliance with the taxation provisions by individuals and companies do not go unnoticed by the department", R S Upadhyay, principal director IT (investigation), Kolkata, said.
He said the IT department was doing 360 degree profiling of the taxpayers based on the humongous quantum of data generated and captured.
"We are now doing risk assessments where tax can be evaded which has now become a trend", he said at an interactive session organised by Calcutta Chamber of Commerce on Monday.
A database of more than 10,000 companies has also been created.
Stating that investigation approach would always be tougher than assessment route, he said search and seizure would necessarily lead to prosecution.
The official said any red-flagged banking transaction would automatically reach the doors of the IT department. (PTI)
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