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Homechevron_rightKeralachevron_rightLand deals of last...

Land deals of last five years to be scrutinised – again

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Land deals of last five years to be scrutinised – again
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Thiruvananthapuram: Kerala Registration Department has initiated steps to scrutinise the possible tax evasion in all land transactions that took place over the last five years.  

A monitoring cell has been set up in the department to issue notice in cases of inadequate stamp duty (undervaluation)  to book those who have not paid up, and to spot tax evasion and other irregularitites in registration of apartments. Registrations since 2014 will be subject to such scrutiny.

The cell comprises six officials including Registration Joint IG Sajan Kumar.   It will be in charge of examination of undervaluation,  stamp duty loss  in apartment registrations since 2014 and review of revenue reccovery proceedings. 

It was also decided to to exact the payment either when the property on which has been issued will be transferred or when a loan is availed on that.  The cases of under valuation will include property registered even as far back as 1986.

There are also moves to realise the fines from those who failed to pay up even after serving of notice.   The department feels that once action is taken against a few,  all others who had received notice will come forward to pay up.   

However,  the truth is that of those who were issued notice,  40 % do not have curent possession of such property.  In most such cases,  several transactions were conducted since then.

Ever since 2010,  registration of sale has been going on based on fair price of land.  Notices  have been issued even for property registered on this basis.   Further,  even those who had been served notice and paid the dues,  have again been issued notice.

Meanwhile,  there are complaints that those who lost receipts of such payments in the past, are again receiving notices.   The official to determine undervaluation subsequent to registration,  is the registering officer,  who also has to issue the notice. 

Grievances are also being aired that in most cases,  notices are issued to clients who refuse to grease the registering officers.

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Web Title - Land deals of last five years to be scrutinised – again
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