The Central Board of Direct Taxes (CBDT) on Wednesday set up a panel to find out whether it could engage non-government agencies in locating non-traceable taxpayers and their assets. The move is part of the government?s crackdown on those who have amassed black money.
The panel headed by DGIT (Administration) Anita Kapur would also explore the possibilities of putting the names of chronic tax defaulters in the public domain and propose a reward scheme for informants.
The committee, which would submit its report in two months, would also suggest ways for utilisation of the information available with the Financial Intelligence Unit (FIU) and the Directorate of Income Tax (Systems). The panel has members from different units of the income tax department and a nominee from the FIU.
The department said in the current wave of transparency and anti-corruption drive, there was a demand to put the list of chronic defaulters in the public domain.
This is the second panel constituted by the government to track black money. Recently, it had set up a committee headed by CBDT chairman Prakash Chandra for strengthening the law to curb generation of black money. This panel is also looking into declaring wealth generated illegally as national asset, enacting and amending laws to confiscate and recover such assets and providing for exemplary punishment to offenders.
The Centre is facing intense pressure from the Opposition and the Supreme Court on the issue of black money stashed in Swiss banks.