Tax portal 2.0 to integrate with bourses to track trade transactions

Will take stock of discrepancies in assessee disclosures in ITR

The income-tax (I-T) department is working on integrating the new e-filing portal with stock exchanges to help tax authorities track trade transactions, including futures and options.

The integrated system will look at discrepancies between the data disclosed by an assessee and match it with data fetched from stock exchanges, using artificial intelligence, said two officials in the know. 

This will help detect and red-flag such matters, particularly those related to non-filers of income-tax return (ITR). The department aims to achieve this integration this fiscal year. 

This comes at a time when there are concerns over growing retail participation in the