Punjab: I-T dept flags gaps in reporting of ₹35,000-crore property deals

The checks were a part of an ongoing drive to check irregularities in the reporting of property transactions by tehsildars.

The Intelligence and Criminal Investigation (I&C I) Directorate of the income tax department, Chandigarh, on Tuesday carried out surveys at the offices of tehsildars in Manesar, Jalandhar-1 and Baddi, and discovered irregularities in reporting property transactions worth over ₹35,000 crore.

During physical checks, officials compared data from the state registry software with records submitted by the tehsildar to the income tax department. (Getty Images/iStockphoto)

The checks were a part of an ongoing drive to check irregularities in the reporting of property transactions by tehsildars.

During physical checks, officials compared data from the state registry software with records submitted by the tehsildar to the income tax department. The surveys revealed a large number of high-value property deals that were either not reported to the department at all or reported with incorrect details.

As per rules, all property transactions above ₹30 lakh must be reported to the income tax department, along with the names, PAN and Aadhaar details of buyers and sellers. However, in many cases, tehsildars allegedly submitted incomplete information, without correct PAN numbers, making it impossible for the department to verify identities or assess whether due taxes were paid.

The department said the ongoing enforcement, coupled with awareness drives, was aimed at widening the tax base and ensuring greater transparency in property transactions.