I-T Department Targets Landowners for Tax Evasion

21 Nov 2024 CW Team

The Income Tax (I-T) Department is intensifying its scrutiny of landowners who are found to be evading capital gains tax through joint development agreements (JDAs). As part of a crackdown on tax evasion in the real estate sector, the department is targeting landowners who fail to report their share of capital gains on properties involved in joint development projects.

In a joint development deal, landowners typically contribute their land for development, and in return, they receive a portion of the constructed property or its value. However, many landowners have reportedly avoided declaring the income generated from these agreements, especially the capital gains arising from the sale or transfer of land. This has led to the I-T Department stepping up its efforts to ensure that these transactions are properly reported and taxed.

The department is using various tools to detect such evasion, including data mining, cross-checking property records, and investigating discrepancies in the declarations made by landowners and developers. The scrutiny has been ramped up as the government aims to boost tax collections and curb the growing trend of underreporting income from high-value real estate transactions.

Landowners who are found guilty of evading taxes could face significant penalties, including hefty fines and interest charges on the unpaid tax. The I-T Department's actions serve as a warning to others involved in similar deals to ensure they comply with tax regulations and properly report their earnings from joint development agreements. This crackdown is expected to bring more transparency to the real estate market and contribute to increasing tax revenue for the government.

Products

04 Dec 2025

Kuche7 Launches Ruby Vanity for Sculpted, High-Performance Bathrooms

Kuche7, India’s leading maker of premium stainless-steel kitchens, has unveiled the Ruby Vanity, a bathroom system engineered for long-term performance with a warm, sculpted aesthetic. Built on a 304-grade stainless-steel framework, the vanity offers corrosion resistance, structural strength and high durability suited to humid environments.Precision metal-forming enables the seamless curved façade, finished in a matte beige PU coat and paired with a marble countertop for depth and texture. Stainless-steel internal carcasses ensure efficient, moisture-resistant storage for everyday use. The ..

Knauf India Doubles Capacity with New Metal Line at Khushkhera Plant

Knauf India, the world’s leading drywall and ceiling solutions company, has inaugurated a new Metal Line at its Khushkhera plant, doubling the facility’s overall production capacity. The expansion strengthens Knauf’s local manufacturing footprint and supports the growing domestic demand for advanced building materials.The launch was held during Knauf’s Dealer Engagement Day, which brought together dealers, partners and team members from across the country for a full-day programme combining technical demonstrations and engagement activities. The event began with a guided plant tour show..

Valueline Launches Tiberio by Ceramica Cielo in India

Valueline, a premium home solutions brand established in 2002, has announced the launch of Tiberio by Ceramica Cielo, an Italian bathroom collection that pairs traditional ceramic craftsmanship with contemporary design. The series is positioned to bring refined elegance and architectural depth to modern interiors.Designed by Andrea Parisio and Giuseppe Pezzano, Tiberio emphasises balanced proportions and a harmonious integration of ceramic and wood. The collection offers both modular and freestanding formats, enabling application across varied settings including high-end residences, boutique h..