While deposing before the committee, the Chairman of CBDT (the Central Board of Direct Taxes) provided a window into the various Big Data Analytics efforts used by the tax department. With the usage of Big Data Analytics, India is set to join a group of developed countries such as Belgium, Canada, USA, UK and Australia which already use Big Data to keep a check on tax evasion. Under this project, the Income Tax Transaction Analysis Centre (INTRAC) has been operationalised for handling data integration, data warehousing, data quality management and data enrichment including data analytics. A dedicated reporting portal has also been launched to provide a comprehensive interface between reporting entities and the Income Tax Department. Another example of the terra-bytes of data available is the linkage of the GSTN with the income tax information that further richens the data pool.

Source: Mint June 29, 2019 12:56 UTC