The government in May this year have started adapting a big data analytics tool that basically raises red flags from the total income tax data.The income tax department has identified 7 lakh "high risk clusters" with about 14 lakh transactions. The CBDT in its notice said that all those who fail to respond to the notices would have to deal with "further necessary action" by the income tax department. The government is going after companies and individuals who do not have PAN card number, Central Board of Direct Taxes (CBDT) on Thursday said. In some cases the government has already started issuing notices. The revenue department has already identified transactions where tax may not have been paid, the companies and individuals may start receiving notices in the coming months, say industry experts.IT department is scrutinising 90 lakh high value transactions between 2009 and the current financial year and is zeroing in on suspicious transactions with the help of in house analytics.

Source: Economic Times July 21, 2016 11:38 UTC