Union Finance Minister P Chidambaram on Saturday said innovative search engines were being created to mine information and unearth tax evaders.
BANGALORE: Union Finance Minister P Chidambaram on Saturday said innovative search engines were being created to mine information and unearth tax evaders.
At the inauguration of India's first Large Taxpayers Unit here, he said limited information was coming in the way to reach tax evaders, but it would change. A group of professionals was working on innovative search engines, which would help in gaining information leading to unearthing of tax evaders, he added.
Chidambaram said a small number (of tax evaders) believe they are "clever" but that is no longer true. "We have more information than you (tax evaders) think we have".
The minister said the government intends to open units in Chennai, Mumbai, Delhi and Kolkata. Out of this, he expects one or two to commence operations before March. There are 830 entities, which are eligible to join the units: 202 in Delhi, 282 in Mumbai, 132 in Chennai, 131 in Kolkata and 83 in Bangalore.
He said the cost of tax collection was the lowest in India at 0.67 per cent and expected it to drop to 0.64 per cent this year.
Chidambaram said it was necessary to bring about administrative and attitudinal changes and incorporate modern management principles into tax administration. "That's what we are trying to do". There was a need to make the tax administration more friendly and helpful. The finance minister said compliance was key to further tax reforms.
Unit officials said 31 out of 83 eligible large taxpayers have joined units here. The total tax revenue paid them in 2005-06 was Rs 1,464 crore. They said the figure was expected to go up to Rs 1,800 crore in the current fiscal.
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