Income tax dept spots lapses in reporting ofRs.18k-cr property deals
Mohali, Sept. 26 -- The Intelligence and Criminal Investigation (I&CI) Directorate of the income tax department, Chandigarh, on Thursday conducted a survey at the office of the tehsildar in Kharar, uncovering irregularities in reporting property transactions worth over Rs.18,000 crore.
During physical checks, officials compared data from the state registry software with records submitted by thetehsildar to the income tax department.
The directorate has given 15 days to revenue officers to file their Statement of Financial Transaction (SFT) and correct their financial record, failing which penal action will be initiated against the state revenue officers.
The checks were not a one-off exercise. Similar surveys have already been conducted in Khanna, Amritsar, Ludhiana, Mohali, Fazilka and other areas of Punjab. However, the corrective measures are not being taken by the state registry officials due to which the department was constrained to conduct enforcement actions.
The department has also been conducting awareness seminars and outreach programmes for tehsildars so that they understand their responsibility in filing the correct information. However, many tehsildars still continue to give incorrect reports to the department, it said in a release.
The I&CI Directorate has been carrying out such surveys across the state to ensure accurate reporting of property transactions and to curb tax evasion....
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