Undisclosed income investment in real estate

Govt to allow legalisation of undisclosed money in property deals

Under the proposed law, no authority will be allowed to raise questions or initiate proceedings regarding such income if the taxpayer voluntarily discloses the amount and pays the required tax, notwithstanding any provisions in the Income Tax Act or other laws in force
2 hour(s) ago

Real estate still a haven for black money

The scope for legalising undisclosed income without facing any questions remains as the tax administration has not scrapped the provision of whitening black money in case of the purchase of flats and land, raising criticism.
4 September 2024, 18:00 PM