I-T drive to target tax evasion on capital gains in joint deals
The income tax department is launching a drive to nudge 25,000-30,000 landowners in Kolkata and Bengaluru, identified for not paying capital gains tax on joint development agreements. This campaign, extending to other cities, encourages voluntary compliance through emails, offering updated returns for recent cases and a 25% additional payment for older ones to avoid penalties.
The income tax department is launching a drive to nudge 25,000-30,000 landowners in Kolkata and Bengaluru, identified for not paying capital gains tax on joint development agreements. This campaign, extending to other cities, encourages voluntary compliance through emails, offering updated returns for recent cases and a 25% additional payment for older ones to avoid penalties. What's Your Reaction?
