Tax Evasion News

Finance Ministry Detects Over Rs 2150 Crore in Tax Evasion

tax evasion

The detection came through an initiative of an online monitoring system of suspicious transactions, which is named ‘virtual Office’, which was set up by the Finance Ministry earlier this year for real-time coordination among revenue intelligence agencies.

The Central Board of Direct Taxes (CBDT) has detected unaccounted income and assets of nearly about Rs 1408 crore using this technique.

The Directorate General of Central Excise Intelligence (DGCEI) and Directorate General of Revenue Intelligence (DGRI), have together worked on detecting indirect tax evasion of Rs 750 crore, according to the reports of an official document.

Both these agencies are also part of the Virtual Office programmer, detected the evasion after following up the report of Suspicious Transaction Reports passed on to them by the Financial Intelligence Unit.

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