Indian Finance Minister P. Chidambaram made an interesting revelation on Tuesday, describing a new technological implementation by the Indian government to construct a 360-degree financial profile to identify tax evaers.
The ministry has successfully made 13 arrests so far using the system.
Tax evasion continues to be, particularly in India, a difficult problem to target and prosecute, but Chidambaram is confident that the technological resources available today allowing the government to track every single financial transaction of an individual will ofer the requisite evidence to make a case.
Only 41% of India’s service sector tax payers actually pay the service tax.
via futuregov