Income Tax Department Uncovers Rs 200 Crore Property Tax Evasion Racket in Bulandshahr
The Income Tax (I-T) department has unearthed an alleged tax evasion racket worth approximately Rs 200 crore, linked to property registrations at the sub-registrar office in Khurja city of Bulandshahr district, Uttar Pradesh. This significant discovery highlights systemic issues in property transaction documentation and identity verification processes.
Joint Survey Reveals Large-Scale Discrepancies
A joint team from Noida and Ghaziabad conducted a comprehensive survey at the Khurja sub-registrar office on Monday, which revealed "large-scale discrepancies in sale deeds" according to officials. The investigation was prompted by suspicious high-value transactions flagged by the I-T department's Kanpur unit, leading to the formation of a special investigation team to delve deeper into the matter.
Sudhir Kumar, an I-T officer at the Ghaziabad division, stated that preliminary findings indicate that PAN and Aadhaar details were allegedly misused during property registrations to facilitate tax evasion. He explained, "Around 1,000 sale deeds executed over the past five years are under scrutiny for discrepancies, resulting in significant revenue loss to the government."
Seizure of Digital Evidence and Ongoing Probe
During the survey, officials seized crucial digital evidence, including transaction records and registration data, which are expected to play a pivotal role in the investigation. Kumar added, "A detailed probe is underway to establish the full extent of the fraud and identify the individuals involved. Initial estimates suggest the scam could run into over Rs 1,000 crore." This indicates that the current Rs 200 crore figure might only be the tip of the iceberg, with potential for much larger financial implications.
Pattern of Manipulation Across Western Uttar Pradesh
The Khurja case is not isolated; similar surveys conducted in recent weeks across western Uttar Pradesh have revealed a concerning pattern of manipulation of identity documents in property deals. Key findings from other regions include:
- In Garh Mukteshwar, officials detected irregularities worth nearly Rs 700 crore, showcasing the widespread nature of such fraudulent activities.
- Surveys in Noida and Ghaziabad have also uncovered discrepancies, suggesting a coordinated or imitated modus operandi across multiple locations.
This pattern underscores the need for enhanced scrutiny and stricter verification protocols in property registration processes to prevent future tax evasion. The I-T department's proactive measures in these areas aim to curb revenue losses and ensure compliance with tax regulations.
As the investigation progresses, authorities are focusing on tracing the flow of funds and identifying all parties involved in the alleged racket. The outcomes of this probe could lead to significant legal actions and policy reforms to safeguard against similar frauds in the real estate sector.
