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Section 54: Money-launderer's delight

Section 54 provides a tax-free method to convert unaccounted money into accounted money

Section 54: Money-launderer's delight

There have been widespread media reports on the subdued demand for houses. However, home prices have obstinately refused to fall ,despite low demand. It is widely known that residential real estate is used as a vehicle for investing undisclosed (black) money. Most commentators feel that since this is the only investment option that facilitates the investment of black money, it makes the sector immune to the normal law of demand and supply. Given the amount of black money generated every year, the demand for houses from holders of black money is quite high. This keeps the prices constant ...