For $100-million, L&T Infotech to help govt track social media to catch tax evaders

"That is really advanced analytics. Now, that is like a $100-million deal for us. It's not a small deal," LT Infotech chief executive and managing director Sanjay Jalona told reporters.

By: Express Web Desk | New Delhi | Published: October 2, 2017 4:08 pm
Larsen & Toubro, L&T, Larsen & Toubro tax evaders, L&T Infotech Ltd, business news, india news, indian express newsa As reported by PTI, a news report last month had said it was a multi-year contract where LTI would operate on a build-own-operate-transfer basis. (File Photo)

The infotech arm of engineering conglomerate, Larsen & Toubro Ltd-owned L&T Infotech Ltd, will track social media accounts of taxpayers to see if their spending patterns are in accordance with their tax declarations in order to nab the tax evaders, according to a company official. The contract is a $100-million worth project, added a company official. “That is really advanced analytics. Now, that is like a $100-million deal for us. It’s not a small deal,” LT Infotech chief executive and managing director Sanjay Jalona told reporters as quoted by PTI.

Terming the work awarded by the Central Board of Direct Taxes as a “high volume digital deal”, he elaborated that the project involves creating a ‘semantic web’ where web pages are structured and tagged in such a way that can be directly read by the computers. “We are creating a systematic web on a person. If his wife is going to the Seychelles and putting photos on Instagram, we will capture it … that is really advanced analytics,” Jalona said.

A news report last month had said it was a multi-year contract where LTI would operate on a build-own-operate-transfer basis. Jalona said apart from the work on the CBDT project, the company, which was listed last year, is working on other high value digital deals to digitise parent L&T’s construction vertical “at the core”. This project involves plan and machinery optimisation for the company through interventions like sharing of high cost assets, he said.

with PTI inputs

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