PM Modi asks taxmen to use data analytics to track undeclared wealth

Said 50-year-old tax laws and procedures needed to change with the times

Prime Minister (PM) Narendra Modi said there was a need to overhaul the old tax structure on Friday at a gathering of top-level income-tax (I-T) officials on Friday, as the existing tax laws are over 50 years old and do not fit in with today’s environment and present economic situation. 

Modi is backing a major change in the system, which could change the entire tax department’s strategy to nab tax evaders.

According to sources, the PM, in an hour-long speech at Rajasva Gyan Sangam in New Delhi addressing direct and indirect tax officers, highlighted the several defects in the present