Income-Tax raids against VK Sasikala, kin continue

According to sources, officials have found so far that VK Sasikala and her family have evaded tax to the tune of over Rs 1,000 crore.

Project Insight: Taxmen to track buys via social media to curb black money

Taxmen will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.

The taxpayer will be able to submit online explanation without any need to visit income tax office.

The drive started by I-T department aims to detect black money generation post demonetisation.

Jaitley said he expects further increase in tax returns going ahead.

Details of raids by I-T dept will be put online and govt will rate defaulters from high to low risk.

Some 9.46 lakh persons responded on pre-defined parameters of sources of the cash deposits.

CBDT has already detected undisclosed income over Rs 9,334 crore from Nov 9, 2016 to Feb 28 this year.

So far, it has received replies from over 7 lakh people who have accepted making suspicious deposits.

Under Operation Clean Money, I-T dept sent SMS and e-mails to 18 lakh assessees in initial phase.