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Taxman to track high-value spending in major cities
Updated On: 30 July, 2014 11:41 AM IST | | PTI
<p>In order to widen the tax base and check undisclosed income, the Income Tax department has decided to train its scanner on instances of personal expenditure, interest earned on investment, purchase of luxury vehicles and capital gains made from sale of property in a select band of economically surging Indian cities</p>
New Delhi: In order to widen the tax base and check undisclosed income, the Income Tax department has decided to train its scanner on instances of personal expenditure, interest earned on investment, purchase of luxury vehicles and capital gains made from sale of property in a select band of economically surging Indian cities.
The Central Board of Direct Taxes (CBDT) has tasked its exclusive technical snoop unit-- the Directorate of Intelligence and Criminal Investigation to initiate a pilot project in 8 metro and tier-II cities of Bangalore, Chennai, Kolkata, Pune, Kochi, Lucknow, Bhopal and Guwahati for "widening and deepening the tax base".

