Govt.
Sets Up Panel To Probe Tax-Related Offences
The
Finance Ministry has set up a Directorate of Income Tax (Criminal Investigation)
to investigate criminal offences under direct tax laws, the Parliament was
informed today.
"The
Directorate of Income Tax (Criminal Investigation) is mandated to perform
functions in respect of criminal matters having any financial implication
punishable as an offence under any direct tax law," Minister of State for
Finance SS Palanimanickam said in a written reply in the Lok Sabha.
The
DCI, to be a part of the Central Board of Direct Taxes (CBDT), will seek and
collect information about persons and transactions suspected to be connected
with criminal activities "having cross-border, inter-state or international
ramifications, that pose a threat to national security and are punishable under
the direct tax laws", he said.
The
directorate will also investigate the source and use of funds involved in such
criminal activities.
In
a separate reply, Palanimanickam said the tax department is in the process of
collating data on the indirect tax evasion by pharmaceutical companies.
"The
information relating to evasion of tax by pharmaceutical companies is being
collected," he said.
In
another reply, he said the Enforcement Directorate has initiated an
investigation into the suspected contraventions of Foreign Exchange Management
Act, 1999, involving certain individuals and entities based in Kolkata.
"Investigations
are currently underway and as such it would not be appropriate in the interest
of investigation to divulge details of cases at this stage," Palanimanickam
said.
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