Business Mantra News
- ‘Project Insight’ is the watchdog prepared by L & T Infotech at the behest of Income Tax Department to watch social networking accounts of individuals to match your income and spending patterns.
- It is going to be an analytical approach of the Taxmen to take care of your spending patterns and will compare it with your income and wealth.
- Purchase a luxury car and show it on your fb or Instagram to your friends.
- The next step will be a notice from the Income Tax Department, if the price does not match with your income and spending pattern.
- Taxmen are finding ways and means to trap you by one way or the other.
- Income Tax Department is likely to monitor your high value transactions, making it difficult for you to generate or play with black money.
- PAN was also made mandatory to be linked to Adhaar to get full information of a person about his income and his assets.
This is also one of the steps government is trying to use in ‘Operation Clean Money’