Now, I-T tool to track tax evasion in computerised accounts

For long, manipulators have evaded income tax and hidden the malpractice under a pile of data recorded in computerised accounts. The government has now found a system to track the illegal activity. The Central Board of Direct Taxes (CBDT) is currently in the process of equipping its officials with smart software that will be laid across the country to scrutinise computer-based accounts of tax-payers, according to a senior department official. The software has a set of standard tools that will run on the data under scrutiny and track manipulation in the accounts for tax evasion, he told Business Standard. “The software has already been developed. The I-T department officials, who would be using it, have tested it. We have completed the UAT (user acceptance test) within the department,” he said. The department has also successfully conducted the tests on live accounts and checked its efficacy in getting the desired results.

Source : Business Standard