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New Delhi: Thousands of property transactions across the country Income Tax DepartmentThey are escaped from the radar of. The department had not already noticed the fact that the deliberate reports, as well as the use of fake or misleading PAN numbers by buyers and vendors. Now all this is coming to mind. Therefore, verification is being done.

Officers of the Income Tax Department Investigation Branch are investigating the records to verify the details of the transaction at the Property Registration Office (Registrar Office). According to the rules, the Income Tax Department must inform the registrar to buy and sell the price of Rs 30 lakh or more. However, in many cases it has been found that some people do not inform the corrupt officials in connection with the transactions or use false PAN numbers and names to prevent the transactions from going to the true parties.

This step is part of a nationwide strategic campaign to prevent anonymous transactions and unaccounted wealth. Tax officials have examined property registration records in cities like Varanasi, Lucknow, Gorakhpur, Kanpur and Bhopal. The department has directed their regional departments to inspect and survey after analyzing data.

PAN and support need for all parties

E-verification of PAN and Aadhaar card for all parties can be a significant improvement to strengthen the system. It is said to help prevent the use of fake or wrong details, increase transparency, and ensure the true ownership of the property.

Agricultural income of 1 lakh without land

Earlier this year, the Income Tax Department started a nationwide inspection to identify such individuals and institutions, who declared Rs 1 lakh or more agricultural income, though they had no land. The department also checked the cases of showing Rs 1 lakh per acre or an unrealistic agricultural income.

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