{
  "id": 4796665,
  "title": "Rough land(ing): ₹8,500-cr deals under taxman's lens",
  "url": "https://urgent.news/2026/08/31/rough-land-ing-8-500-cr-deals-under-taxmans-lens",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-31T19:43:41.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/services/property-/-cstruction/landing-in-trouble-8500-cr-property-deals-under-taxmans-scanner/articleshow/133662484.cms"
  },
  "original_language": "en",
  "account": "The Income-Tax Department in India is intensifying its scrutiny of land and property transactions after uncovering deals worth approximately ₹8,500 crore that were either unreported, undervalued, or involved suspected benami ownership, according to sources familiar with the investigation. These transactions include large land purchases, agricultural land, and high-value properties, spanning deals finalized in fiscal year 2025 and reported in fiscal year 2026, as well as those in the ongoing filing cycle.\n\nAround ₹2,000 crore of the identified deals are suspected to involve benami arrangements, where a property is registered in one person's name while the funds originate from another, making the true beneficiary invisible in the ownership records. Officials are investigating whether the individual listed as the purchaser or owner is the same person who funded the transaction and ultimately benefits from the property.\n\nThe department is cross-referencing the PAN (permanent account number) used in property transactions with the PAN of the taxpayer who filed income tax returns, as many of these transactions lack income to substantiate the property acquisition. Officials are also comparing the investment declared in the tax returns with the value of the acquired property to identify discrepancies.\n\nThe emphasis on the PAN check is crucial for suspected benami transactions, as the ownership record may not reflect the actual beneficiary receiving the funds. The department is also scrutinizing underreported property valuations and transactions where the declared consideration falls short of the total amount paid.\n\nEmail notifications have been sent to taxpayers involved in these transactions. The tax department's approach to enforcement is evolving from traditional searches and surveys to leveraging transaction-level data to identify cases for action. This shift is facilitated by the convergence of data from various sources, including banks, post offices, and increased disclosure by reporting entities in recent years.\n\nThe department has launched the NUDGE campaign, alerting taxpayers to specific discrepancies and allowing them to rectify their returns based on the inconsistencies between their tax filings and the data available to the department. Following the first campaign, 24,678 taxpayers revised their returns, disclosing foreign assets worth ₹29,208 crore and foreign income of ₹1,089.88 crore, as reported by the Central Board of Direct Taxes (CBDT).",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}