I-T department empowered to demand info from taxpayers for e-verification

The intention is to bring more transparency within the tax agencies and streamline the process of uncovering serious tax evasion or money stashed abroad

The government has empowered the income tax department to gather more information from the taxpayers on digital mode and reconcile it with information received from various sources within a period of 90 days.

If there is any discrepancy between the amount accepted by the assessee and the amount reported after such first e-verification, the information will be run through a risk management strategy to be laid down by the Central Board of Direct Taxes (CBDT). In case, the information found to be no or low risk and where no further action is required, it will be processed for closure.

However, if the