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Income Tax can raid through photo and video sharing on social networking sites

USNMix Report: Do not share photos beyond expectation on FB,
may get Income Tax Raid.

If you also share a picture of your trip or party on Facebook, then the Income Tax department may look at you. Yes, on behalf of the Income Tax Department, now a project is being worked out so that it is impossible to steal your tax but it will definitely be difficult. Income Tax Department (IT) is going to use Big Data Analytics from April 1 to curb tax evasion.

1 thousand crore program will start
Social networking profiles of people will be monitored through the program 'Project Insight', a program of Rs.1000 crore. Also, the methods of expenditure through photos and videos uploaded on social media will be explored. If there is a difference in purchase and travel expenses compared to the income declared by a person, then the income tax authorities will be informed about this, after which the person will be acted.
Income Tax can raid through photo and video sharing on social networking sites
Access to software from March 15
According to sources, Income Tax Department has given access to software to income tax officials since March 15. A source familiar with the matter said, "If you are traveling abroad and posting photos on social media or buying expensive cars, which are beyond the income generated in filing returns, then The Income tax department can use the Big Data to analyze it and check the discrepancy of your income and expenditure.'

Master file may be used
Sources said, "Income Tax Department can also use a master file, in which there will be complete details and important information regarding individuals and corporate". The main purpose of the project is to catch the thieves and increase the number of returnees and increase the tax payers. Insight will be a consolidated information management system in the project, which will help machine learning to help in taking the right steps at the right time.
India is going to join a group of countries like Belgium, Canada and Australia who use Big Data to curb tax evasion. Since the beginning of technology in the UK in 2010, the system has reinforced the loss of about 4.1 billion pounds of revenue.


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