I-T dept seeks data of property deals worth Rs 1 cr or more in last 10 yrs

The I-T department has asked for names, address and PAN numbers of sellers and buyers, along with the value of the agreements

The income tax (I-T) department has asked all sub-registrars and tehsildars under its jurisdiction in Mumbai to send it details of property deals worth Rs 1 crore or more in the past 10 years. 

This is aimed at nabbing those who stash unaccounted money in benami property. 

The letters from the I-T department, seeking information of property registrations between April 2007 and June 2017, were issued under Section 21(1) of the Prohibition of Benami Property Transactions Act, 1988. The Central Board of Direct Taxes altered this law significantly through a notification on October 25 last year.

According to estimates of