"In the initial phase, we are putting data of those persons who have deposited Rs 5 lakh or more and deposits between Rs 3 lakh and Rs 5 lakh of suspicious nature and who have poor tax compliance after November 8," Chandra said.Initially, this will cover 18 lakh tax payers whose data will be uploaded on e-filing portal. These people while filing reply have to explain to tax department the sources of deposit.Chandra said that tax department has compiled huge data which shows that there are over 1 crore accounts where above Rs 2 lakh money have been deposited and involves unique PAN of 70 lakh persons. "We have compared these vast data with the income profile, turnover and the various other particulars of income available in the income tax data bank. "People have been fearing there will be Inspector Raj as tax department will have data about all the deposits. "Initially this will cover 18 lakh tax payers whose data will be uploaded on e-filing portal.

Source: Economic Times January 31, 2017 09:43 UTC