SIT on black money to create ‘database’ of tax crimes
20 Nov 2014 5:57 AM IST
The SIT is wanting to bring together the databases of CBDT, Financial Intelligence Unit (FIU), Enforcement Directorate, Customs and Excise and few other departments so that in case of an input being received on any instance of black money generation, it could be quickly taken up for action, sources privy to the development said.
‘The database will initially be shared by the agencies by way of regular exchange of information over the existing channels. Later, it is planned to be made electronic,’ they said. The aim of the SIT is to begin ‘seamless sharing of information’ among all the agencies involved with it and also those outside it, they said. A team of officials has already begun working on this plan and the agencies have been asked to identify common ‘red flag’ indicators collated by different departments.
The SIT also wants to prepare the database on the lines of the ‘360-degree’ data profiling platform of the Income Tax Department which aids tax sleuths in finding all the relevant information about a suspect on the basis of pointers like PAN card, credit card information and I-T returns.
The database, the sources said, is expected to be developed by a private software vendor.
‘The database will initially be shared by the agencies by way of regular exchange of information over the existing channels. Later, it is planned to be made electronic,’ they said. The aim of the SIT is to begin ‘seamless sharing of information’ among all the agencies involved with it and also those outside it, they said. A team of officials has already begun working on this plan and the agencies have been asked to identify common ‘red flag’ indicators collated by different departments.
The SIT also wants to prepare the database on the lines of the ‘360-degree’ data profiling platform of the Income Tax Department which aids tax sleuths in finding all the relevant information about a suspect on the basis of pointers like PAN card, credit card information and I-T returns.
The database, the sources said, is expected to be developed by a private software vendor.
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