- It is a project launched by Union Finance Ministry to monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money.
- It will use data mining, big data analytics to scoop out tax evaders from social media platforms to deduce mismatches between spending pattern and income declaration.
- The linking of PAN (Permanent Account Number) with Aadhaar will be key identifier to be used by IT Department to link and analyse various transactions relating to tax payers.
- The integrated information technology platform will help in catching tax evaders in non-intrusive manner using technology and without traditional intrusive methods like search and seizure.
- It will use technology to allow government collate databases of IT forms, IT returns, TDS/TCS statements and Statement of Financial Transactions received from financial institutions.