GURUGRAM: On Tuesday, the income tax department conducted surprise verification and survey operations at sub-registrar offices in Gurugram and Mohali. This action was prompted by reports of significant lapses in the reporting of high-value real estate transactions.
The operations commenced early in the day at the tehsil office located in the mini secretariat, where officials have uncovered discrepancies in property transactions amounting to Rs 45,000 crore at the Gurugram tehsil.
This initiative is part of a nationwide data-validation effort aimed at evaluating the accuracy and quality of information provided by designated reporting entities. According to the law, sub-registrar offices are required to report details of property transactions exceeding Rs 30 lakh to the department, including the PAN details of buyers and sellers, to ensure alignment with taxpayers’ income disclosures.
Officials reported that inspections in Gurugram and Mohali unveiled widespread inconsistencies in transaction reporting. Initial analyses suggested that transactions lacking proper PAN information, incorrect PAN entries, and misaligned buyer-seller data could total around Rs 65,000 crore, with approximately Rs 20,000 crore linked to Mohali tehsil. The extent of identified discrepancies is among the highest observed in similar investigations nationwide.
During the verification, I-T officials scrutinized data from the states’ registry management systems, cross-referencing it with the information submitted to the department as per statutory reporting obligations. This comparison allegedly exposed thousands of cases with incomplete or incorrectly uploaded transaction records.
Investigators found numerous instances where PAN numbers were either absent or inaccurately entered, complicating efforts to identify the parties involved. “In several situations, buyer and seller details were improperly linked in the reporting structure. Such fragmentation or defects in reporting significantly decrease the data’s usefulness for financial profiling and tax compliance analysis,” noted an official.
The department increasingly relies on third-party transaction reporting to detect potential income concealment or under-reporting. “When accurate information is obtained, it is electronically matched with I-T returns filed by taxpayers. In cases of discrepancies, taxpayers are usually encouraged to voluntarily amend their returns through compliance campaigns,” he explained.
The operations primarily aimed to enhance the integrity of information flow from reporting authorities. Once accurate details are received, the department may investigate specific cases with significant financial discrepancies, with the overarching goal being to motivate taxpayers to file updated returns.
Authorities are now expected to request corrected and complete transaction records from the sub-registrar offices in Mohali and Gurugram for effective taxpayer verification and compliance monitoring. Officials indicated that these data-driven efforts aim to fortify transparency in the real estate sector, improve voluntary compliance, and optimize the effectiveness of non-intrusive tax administration.
Additionally, the department has stepped up its outreach initiatives through programs and sensitization meetings with reporting entities, including state revenue authorities, to ensure adherence to reporting standards outlined in the I-T Act. Officials assert that this will foster greater voluntary compliance among reporting entities, thereby encouraging taxpayers to revise their returns when necessary.
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