Drive against blackmoney ongoing process: Govt
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Drive against blackmoney ongoing process: Govt

Last Updated: Wednesday, March 28, 2012, 16:53
 
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Drive against blackmoney ongoing process: Govt
New Delhi: Government on Wednesday said it is taking various measures, including use of information technology, as part of its drive to check blackmoney and tax evasion.

"Drive against blackmoney/tax evasion is a continuous and ongoing process. The Income Tax Department takes several punitive and deterrent steps to unearth unaccounted money and curb tax evasion.

"These include scrutiny of tax returns; surveys, search and seizure actions; imposition of penalty; and launching of prosecution in appropriate cases. Information technology is used in a systematic way for collection and collation of information to take anti-evasion action against tax evaders," Minister of State for Personnel, Public Grievances and Pensions V Narayanasamy told Lok Sabha in a written reply.

Besides, he said that a bill aimed at checking Benami transactions was being examined by a Standing Committee.

A comprehensive legislation -- Benami Transactions (Prohibition) Bill, 2011 -- has been introduced in Parliament aimed to prohibit holding property in benami, restrict right to recover or transfer property held benami and to provide a mechanism and procedure for confiscation of property held benami.

"The Bill is currently being examined by the Standing Committee on Finance," the Minister said.

Narayanasamy said the Central Vigilance Commission has also prepared a draft 'National Anti-Corruption Strategy' in order to promote good governance.

"The proposed strategy aims at systematic and conscious reshaping of the country's national integrity system. The draft Strategy recommends a set of action to be taken by the Government and a set of actions by the political entities, judiciary, media, citizens, private sector and civil society organisations," he added.

PTI




First Published: Wednesday, March 28, 2012, 16:53


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