Budget 2015: Government to leverage technology to curb tax evasion

MUMBAI: The Indian government will use technology to curb tax evasion and will let different government departments pool and analyse data to cut down on black money in the country.

Though transactions over a certain value have to include a PAN number, people often get around this rule by splitting the transaction to avoid the reporting requirement. The finance minister Arun Jaitley intends to clamp down on this, he said in his budget speech.

"Provision is also being made to tackle splitting of reportable transactions. To improve enforcement CBDT and CBEC will leverage technology and have access to information in each other’s database," Jaitley said in his speech.

Various states have already begun putting in place analytical platforms to go through the different sources of information to catch potential tax cheats.