The Income-Tax department is going into “new areas” of the economy to check tax evasion even as its investigation units are using analytics to sift through voluminous data on Indians holding assets abroad, CBDT Chairman Nitin Gupta has said.
The Central Board of Direct Taxes, the administrative body for the tax department, undertakes search and seizure operations to check instances of tax evasion apart from performing its regular task of collecting revenue for the government under the direct taxes category.
“We are covering a variety of sectors of the economy (while undertaking searches and raids). We are not limiting ourselves to real estate or developers only…our action is spread across sections of economy right from healthcare to pharma to developers to industries, manufacturers, service providers etc.
“We are touching new areas and various sectors of the economy which were never touched like asset reconstruction companies, gaming, betting etc.,” Gupta said during an interaction.