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.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..