Technology, especially its tools such as data analytics and artificial intelligence, is ending the heydays of exploiting information gaps to hide income from the taxman. Tax authorities are detecting mismatches in tax returns using tonnes of information about large transactions from banks, mutual funds, companies issuing shares, stamp and registration departments of states and sounding alerts about possible tax evasion, with different wings of the revenue department, direct tax, indirect tax and customs sharing data. However, the nationwide drive to find evaders has also given a free hand to corrupt officials to exploit the system with arbitrary notices and demands. Small and large businesses are at the receiving end of the taxman's hounding, threats and at times even violence. Watch the video for more.Also Read: Indirect tax collection rises 12.3% to Rs 10.7 lakh cr in FY21

The non-banking finance company with market capitalisation of Rs 2.84 lakh crore has raised the substantial sum in March alone amid the second Covid wave

As tech helps tax authorities check evasion and fraud, taxpayers complain of harassment and misuse of powers

A team from the Chandigarh investigation unit of the department, that is handling the probe, was seen going inside Vadra's office in the Sukhdev Vihar area of the national capital around 3 PM

Deepak Kochhar was arrested by Mumbai branch of the ED under the Prevention of Money Laundering Act in connection with the ICICI Bank-Videocon money laundering case

Contrary to government claims, not a single indicator is encouraging; rather the numbers are so bad that government has stopped releasing industrial output data after April and those that are available for May and June are rather depressing

So far, their progress is mixed with individual countries taking more aggressive positions to bring a change to the impact of what would be known several years from now

Tax havens have powerful backers; they include big nations including the UK and the US, reputed international bankers, accountants, law firms and many others which makes it difficult to discipline them

Tax havens are increasingly being used for tax avoidance and other purposes; most of India's FDI inflows and outflows also are routed through them and should be a cause of concern

Indian jewellers have received surprise tax notices asking them to turn over money they made from customers who scrambled to buy gold after 2016 noteban

Citizens found owning properties outside the country without explaining the source of funds or income for their purchase could be prosecuted under the Black Money Act

Twitter used a feature called live carousel through which provided updates during the presentation of the Budget 2020, allowing people to follow the dialogue between policymakers, influencers, journalists, opinion-makers, and the general public

The Indian economy is going through one of its longest spells of slowdown - six quarters and counting

GST mop-up slips to 19-month low of Rs 91,916 crore in SeptemberGST collection slipped to Rs 91,916 crore in September, the lowest in 19 months. It is also a substantial decline from the GST revenue of Rs 98,202 crore reported in August 2019. Of the total GST collection, CGST was Rs 16,630 crore and SGST was Rs 22,598 crore. IGST during the month was Rs 45,069 crore, including Rs 22,097 crore collected on imports. Cess collected during September was Rs 7,620 crore.Mahindra to lead...

Instead of paying high premium each month in an endowment policy, the same amount cannot be divided into monthly term plan premiums and systemic investment in financial products such as mutual funds to get the most benefit