Income Tax department may keep an eye on those who show off during Diwali
Income Tax department may keep an eye on those who show off during Diwali

If you have planned to show off on and buy luxurious things this Diwali, then beware. The Income Tax Department is keeping an eye on all the activities from online to offline. Detective of the tax department is more alert during the festival season. Their eye is on how much you are spending and what your actual income is. 

For example, if you take a high priced car on the occasion of Diwali and post a picture of it on social media, you also have to be prepared to answer the income tax notice. Under the Project Insight, the tax department may ask you about the expenses, which you rarely worry about. According to information from sources, the tax department is particularly focused on social media.

L & T Infotech is helping in Data Analytics. Last year, the tax department had signed an agreement with L & T Infotech to implement Project Insight. The purpose of this campaign is to improve people's habits by restraining tax evasion. Last month, Prime Minister Narendra Modi had advised the Income Tax Department to levy tax evasion by using more technology. 

According to Data Analytics Expert, links between people's income and expenditure can be established through data analytics. You can send a notice on this basis. That's why if you posted photos from your expensive vacation, on the Facebook, Instagram, etc., you may receive the Income Tax Department's notice. 

Narendra Modi's Government Project Insight is preparing a pool of virtual information, where other information such as information collected about you from traditional sources like banks, such as social media sites, will also be included. The tax department will no longer need to directly raid offices and homes.

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