Government to check social media to reduce tax evaders
The Income Tax Department has inaugurated an initiative named Project Insight which scans social media sites to estimate the spending patterns of the population. The attempt is to correlate the pictures and videos on social media with the bank balance of the individuals and necessary action will betaken if there is a disparity. The primary aim is to identify tax evaders who display wealth on social media but fail to pay tax that is levied on that income bracket. Income tax is imperative for the funding of public services and amenities. Those who evade paying tax and complain about lack of facilities often do not realise the incongruity.
Source:Zee Business
- 1 Apr 2019
- WerIndia
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