Not just friends but even the taxman will be tracking your trip to the French Riviera

It is now time to think twice before posting up pictures on face book or on any social media site. You never know who is watching! The income tax officials have now found a new way to collect information about the taxpayer and his lifestyle through these social media sites. Pictures of an overseas vacation or a new car which you have unwittingly put up on these sites to share with your friends are now being checked out by the tax officials as well.

Though the Central Board of Direct taxes has not issued any directive to its tax officers to scour social media, the I T officers say the find it useful in certain cases to look up social media posts to gather information. This is not even perceived as harassment as the posts are publicly available. Officers claim they do not jump to conclusions over these posts but it certainly helps them in their line of questioning and gives them an added edge on the tax payer.

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If the tax payer was to complain about how his business was not doing too well and things were difficult, the I T officer would then show him pictures that he had put up of his foreign trip or his new car or house. The main purpose of vetting social media posts is to ascertain the lifestyle and thus the real income of the taxpayer. If hid personal expenditure is disproportionate to the income declared in the I T returns then an in depth probe can follow to unearth the unaccounted income.

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So those who enjoy putting up pictures and posts on social media, beware of what you put up as it is not only friends who are watching!!!

[ Via : Timesofindia ]

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