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IT Dept. Can Now “Trace” Defaulters Using Banking, Insurance Data
December 27, 2017
As per the recent changes brought in the rule book by the government, the tax authorities can now access the databases maintained by the insurance companies, banks, and municipal corporations to obtain the addresses of “untraceable” tax defaulters and approach them for the payment of due taxes.
Currently, the taxmen have access to the only those addresses that are provided on the PAN or ITR of the tax defaulters.