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Are you not paying your tax? don't miss to read it!

Shweta Purohit (Associate Editor) (138 Points)

28 July 2015

Are you not paying the Income Tax? If you are also a tax evader, very soon you will be in the custody of Finance Ministry.

Yes! Finance Ministry is coming with a new technology named as "Project Insight" to trap the tax evaders. Income tax department is going to be very strict with the Black Money. The people who are stealing the money of the government will be the targets of the authorities.

Finance Ministry has planned to spend 108 crore rupees on this project. Insight Project will use the database analyst to target the tax evaders.

Know more about Project Insight and star paying your tax.

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5 Replies

raghavan (self) (611 Points)
Replied 28 July 2015

Today economic times carry the article and the amount allocated for project insight software is 150 crores. Hope compliance tax payers increase and more hni people start to answer audit queries by auditors from nowon

1 Like

Rajagopalakrishnan R (PARTNER) (1417 Points)
Replied 28 July 2015

The department should lay emphasis on capturing thousands of people who do crores of business and launder the money as NRI remittance/Agri Income etc without paying even a rupee as income tax in this country.

1 Like

Anubhav (Student) (589 Points)
Replied 29 July 2015

Sorry for my ranting and I don't do that normally as this is a professional forum and we ought to maintain a certain decorum but I am a bit irritated by Govt.'s attitude.

By experience we can tell that, Govt. can make a lot of money by not spending it uselessly.

I am not sure that a 150 Crore software is required for such a thing, may be a relative of finance minister is benefitting some-where.

If they ask an article working at a CA firm, suggestions on how to catch defaulters, they can do it at almost free and simple database maintenance and intelligent sorting and reporting software should suffice.

My boss was telling me that when GST gets introduced, tax rates can touch as high as 20%, I am not sure if this is possible but I did not expect Service Tax to rise as well from an already high level.

The loot made by Congress has emptied the coffers of Govt. and it needs funds unregently, and the urgency is so much that Govt. is not able to implement 'One Rank One Pension' type of scheme immediately even when there is so much pressure.

People in general should really push for stopping leakages in Govt. treasury, which is just like throwing our money on the road or in the pockets of our exploiters.

I have this crazy dream that wannabe politicians should not have wealth above Rs. 1 crore nor they should be married, We may not be able to control the marrying part, but we can surely ask a person who wants to work for people, should be allowed to stand only if he forfeits his wealth above Rs.1 crore to people i.e. Govt. treasury.

1 Like

Shweta Purohit (Associate Editor) (138 Points)
Replied 29 July 2015

Yes. I am also agreed with you. Rs. 150 Crore is a big amount to spend on a software. Catching the tax evaders is important but spending too much money is a stupid thing. I think, everyone should do his/her duty honestly. Everyone should pay the tax on time. The government should also catch the real culprits and tax stealers. I am waiting for the day when we will bring the black money back in our country.

1 Like

raghavan (self) (611 Points)
Replied 29 July 2015

The day will come early..utleast before 2018. The software is worth and the software is useful for data mining and identify big looters as addressed by sweta and anubhav. The it dept has numerous information thru Air..pmla act,cash ten,sb Ac details,aadhar land deals,it deductions,refund etc and we know from last yr govt spending and scrutinising large data and nil collection. So to filter data and not to harass people below income of say 20 lakh..this size of software is required. The cost of software will be recovered in 6 months whereas the parameters are useful for developing other big evaders. Anyhow implementation without political pressure is a question.. We should wait and see..

2 Like