The finance ministry is looking to empower income-tax officers to go after suspect businesses and the rich to unearth black money and check tax evasion even as the government eases laws and drop low earners from the tax net. The ministry is considering vesting taxmen with powers to conduct surveys beyond their jurisdiction if they think an assessee has stashed away ill-gotten wealth elsewhere. "Surveys are an effective tool to unearth black money...the idea is to make them more effective by removing geographic restrictions," said an income-tax official. The upcoming budget could unveil the proposal after a final go-ahead from Finance Minister Pranab Mukherjee.
Source: Economic Times
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