Brief by Shorts91NewsDesk / 04:04am on 26 Mar 2025,Wednesday India
Indian Finance Minister Nirmala Sitharaman underscored the significance of digital records in tax investigations, revealing that decoding encrypted mobile messages led to the detection of ₹250 crore in unaccounted money. She defended the proposed Income Tax Bill’s provisions allowing access to digital data during authorized searches, stating it will help curb tax evasion. Addressing privacy concerns, she clarified that such measures are necessary to close loopholes in the 1961 Income Tax Act. The bill is currently under review by a Select Committee and is expected to be debated in Parliament’s Monsoon Session. (PC: Fortune India)
