Tax tracker on property owners with builder deals; I-T dept told to identify capital gains evaders

All landowners who had cut ‘joint development’ deals with builders are under the lens for skirting tax on capital gains.

The investigation wings of the Income Tax (I-T) department across the country have been told by the central direct tax body to collect information on agreements where individuals and Hindu Undivided Families (HUFs) had struck a deal with developers but may not have paid tax even after the buildings received ‘completion or occupation certificates’ (CC/OCs).

Read more at: The Economic Times