If you purchased a luxury car, villa, or took an overseas trip and flaunted it on your social media without you or your family members paying appropriate taxes, get ready to receive letters from India’s taxmen who have started reopening old assessments.
What is Project Insight?
After the demonetisation in 2016, India set forth an ambitious target to nail tax dodgers and floated an idea to use an algorithm to do so and the Income Tax department initiated ‘Project Insight’ to deter noncompliance, to impart confidence that all eligible persons pay appropriate taxes, and to promote a fair tax administration. According to Rohinton Sidhwa, partner, Deloitte India, told CNBC-TV18, the original idea was propounded as early as 2015.
Who built this algorithm and Insight portal?
To initiate the project, use contemporary technology for data mining, research and analytics against black money and tax evasion, the government roped in L&T Infotech in 2017. The website that tracks all the data is https://report.insight.gov.in/
Catching tax evaders: 'Insight' into I-T dept algorithm that's scanning social media posts
- by: Amrita Das
- 03-14-2022
- Source:
CNBCTV18
- 03/14/2022
man looking at marketing analytics by Adeolu Eletu is licensed under Unsplash unsplash.com
man looking at marketing analytics by Adeolu Eletu is licensed under Unsplash unsplash.com
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