Flaunting your Rolex on FB? Taxmen to track social media to nab high spenders

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If you flaunt your expensive Rolex watch on Facebook from 2017-18 onwards, chances are that the income tax department is watching you.

 

The department is planning to include information given on social media under its Project Insight, a project to do data mining to nab high spenders who may not be reporting their true income.

 

Related Article:  No escaping the taxman: PAN must, I-T notices on dubious deposits, property buys

“If you flaunt that you have gone on an expensive trip to a foreign location on Facebook and other social media, we will gather that information to match it with your income declared,” a finance  ministry official said.
Another official also said Project Insight will include information from social media in its data mining.
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