Just a post from my understanding
30 million tax payers out of 1.2 billion
nearly 170+ million PANCARDS.
PM JanDhan account-- over 266 million+ bank accounts--about 24% zero accounts.
average account in bank under the scheme is rs 64000
(data from internet, wiki and PM JDY website)
From the above, I believe the tax sleuths can track the accounts thru pancards, aadhar pm jan dhan yojana etc various persons entities - how the money moves.
I believe the first task is people with high money movements across.
This will take upto 1 year of more as this will be easily be few milions.(but a drop in 1.2 billion population).
tax implications by default in most countries is upto 7 years . So tax men have enough time to nail fraudsters.
Due to demonetisation-- likley huge increase in tax payers who cannot escape out of the tax net. almost 2 times the existing tax base.
More awareness amongts all classes of people-- dont know how it helps. But having some knowledge is useful I suppose.
continuing plugging of loop holes thru various other schemems like gst, stopping re routing of black money thru tax havens, taking account of benami land holders, gold etc and agreements with other countries etc etc if taken to logical end by creating a system
NaMo would have ensured that for years to come , govt would not have to worry too much about income thru tax.
But key is going thru the above implementation in the coming years.
Elections have to be won in 2019 to ensure it is not tampered by congress/sickulars.
only time will tell how the plans pan out in the long run.
Huge bold gamble but already a success in my limited view.
Aside --about NMS filing system
-- I recd a email about it -few easy questions.
many others have also recd it.
good begining to catch the tax escapees.