BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL Astrology GOSSIP CORNER SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

Be careful! Income Tax Department watching your social media activities

Friday - March 29, 2019 11:13 am , Category : WTN SPECIAL
Monitoring of the tax evaders through social media!
Monitoring of the tax evaders through social media!

Be alert before showing your richness on social media, because the Income Tax Department 'observing all'!

MAR 29 (WTN) - Because of the cheap Internet, and mobile phones; Indian people have become addicted to posting their activities on social media. It is common practice nowadays of posting the photos of birthdays, wedding, marriage anniversary, foreign trip and shopping on social media, like Facebook and Instagram. But if you have the passion of showing your richness on social media, then we advise you to avoid this, because if you are fond of traveling abroad and buying expensive things, and instead of giving this information to the Income Tax Department, If you publicize this on social media, then the Income Tax Department can inquire about it.

For your information, let you know that from April 1: the Income Tax Department is going to introduce project ‘insight’ across the country. Under this project, social media accounts of such people will closely monitor, who purchase expensive items but do not give the information to the Income Tax department about the purchasing.

To curb the income tax evaders, the Income Tax Department will now match the bank accounts of the user through pictures posted on social media. If the department thinks that the user has made expensive purchases, and the information about this is not given to the Income Tax Department, then the department may inquiry user about this.

For your information, let you know that by keeping an eye on the social media, the Income Tax department has planned to start project ‘insight’ last year to stop income tax evasion, after which the project started from April 1 this year. Through Project Insight, the Income Tax Department will monitor people, who are making expensive purchases or are fond of roaming abroad, but not giving all this information to the department.

According to the information, the Income Tax Department has created a virtual house for Project Insight, through which the limit of spending of people will be matched with the bank accounts as well as social media. Through Facebook, Instagram and Twitter, the Income Tax Department will try to ascertain, whether the user is traveling abroad or is buying expensive items, it is in user’s income limits or not.

The Income Tax Department has spent a thousand crores on this project being prepared for the last seven years. It is being said that the purpose of the government is to create the world's largest biometric database through this project. The government claims that this database will help income tax, banks, ED and NIA to prevent tax evasion.

According to the Income Tax Department, many people in the country do not give the right information of earnings to the Income Tax Department, which leads to loss of revenue to the government. Through the Project Insight, the Income Tax Department will be able to find out the information of the purchasing and the roaming of people through social media posts, that user has done all this within their income limits or outside. In such a situation, those people need to be careful, who show their income less to the Income Tax Department and show their richness on social media.