In its drive against unaccounted foreign assets and benami properties, the Central Board of Direct Taxes CBDT is taking new steps to strengthen its exercises.
A new online facility has been launched to encourage informants to tip off tax sleuths on black assets abroad. Also, special Foreign Asset Investigation Units (FAIUs) are being created in CBDT 14 directorates across the country. The FAIUs units will be directly monitored by the CBDT.
Top sources at centre say that CBDT is seeking more Indian Revenue Service (IRS) officers alongwith more budgetary allocation to fund its drive. CBDT also plans to hire the services of private experts like data analysts and chartered if required. The FAIUs will also probe cases of Indian entities named in global tax document leaks, such as the infamous Panama Papers.
