Latest StoriesRegulatory

Haryana: I-T Searches Tehsil Office, Finds ₹45,000 Crore Discrepancies

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…

Latest StoriesRegulatory

Missing Papers Halt 2.5 Lakh Property Deals in Gurugram

GURUGRAM: The Income Tax (I-T) department is investigating approximately 2.5 lakh property transactions, worth over Rs 3 lakh crore, in the north-west region of India, according to officials. Many of these substantial transactions stem from Gurgaon and Faridabad. Revenue offices in these areas have either neglected to report transactions or submitted incomplete or erroneous PAN details, causing significant obstacles in tax verification efforts. Over the past year, the Directorate of Intelligence and Criminal Investigation (Chandigarh) has conducted over 40 surveys and spot verifications across revenue offices in Punjab, Haryana, Himachal Pradesh, and various Union Territories, including Chandigarh, Jammu & Kashmir,…