IT Department can now track your PAN transactions

The Indian government is all set to launch a new PAN activity monitoring and analysis software. This tool would allow the Income Tax department to check transactions history of any individuals. The department expects this to help them effectively track the black money trail.

The tool is currently being put through final tests by an elite team of tax sleuths and software analysts in Delhi. The new software would allow IT authorities to view enable the taxman to view transactions history of any individual or organization where a PAN number has been mentioned.

The project is expected to start by the end of this month by the Finance Ministry. This would also enable the IT department and NSDL and UTIITSL to allocate a fresh PAN number and issue a new PAN card in 48 hours flat.

Image credit: Indiatimes