Over 35,000 property deals worth ₹55,000 crore face Income Tax scrutiny in Gurugram's Badshahpur
The exercise may have implications for Gurugram, where high-value property deals are drawing tax authorities’ scrutiny of registrations and financial reporting
Over 35,000 high-value property transactions worth over ₹55,000 crore in Gurugram's Badshahpur tehsil have come under scrutiny by the Income Tax department's Intelligence and Criminal Investigation (I&CI) division. The survey, conducted at land revenue offices, revealed significant discrepancies in the reporting of these transactions.
The investigation identified cases where details were not submitted or incorrect Permanent Account Numbers (PANs) were provided. While the ₹55,000 crore figure represents the total value of affected transactions, it does not indicate tax evasion. The discrepancies raise concerns about the accuracy of PAN details and timely filing of Statements of Financial Transactions (SFTs).
The department has called for corrective measures to ensure accurate reporting and filing of SFTs, particularly in Gurugram, a rapidly developing real estate hub.
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