Recently, there was a news report about a corrupt bureaucrat who was caught with currency notes running into crores and papers showing ownership of 17 flats. There is a close linkage between the footage showing a room full of currency notes and visuals of plush flats the corrupt bureaucrat owns.
A piece by economist Vivek Kaul highlighted how changes in tax laws have had a mild dampening impact on the activities of such real estate “investors”. In my view, the impact has been mild because of the continuation of Section 54 of the Income-Tax (I-T) Act in its current form. It
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
