Q. With reference to Project Insight, consider the following statements:
1.The project will monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money.
2.Central Bureau of Investigation (CBI) is implementing the project.
Which of the statements given above is/are correct?
Answer: A
Notes:
Statement 1 is correct: The project will monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money.
Statement 2 is incorrect: The income tax department is implementing ‘Project Insight‘.
Source: Pandora Papers and Illegal offshore investments from India – Explained, pointwise
