POSSESSION OF SCRAPPED CURRENCY NOTES BEYOND 30-12-2016 WILL ATTRACT CRIMINAL PROCEEDINGS AND FURNISHING WRONG INFORMATION WHILE DEPOSITING OLD CURRENCY WILL ATTRACT FINE FROM 1-1-2017 TO 31-3-2017


  The government on Wednesday approved promulgation of an Ordinance to make possession of more than 10 scrapped banknotes a penal offence. The Specified Bank Notes Cessation of Liabilities Ordinance makes holding of old 1,000 and 500 rupee notes after March 31 beyond a threshold amount a criminal offence. Furnishing wrong information while depositing the… Read More

ENCROACHMENT – RAJA KALUVE – LAKES – LENDERS ESCAPED


The owners who have bought the apartments and sites in and around raja kaluve and the lakes have borrowed money from BANKS.  In many cases, the banks have evaluated the projects and in some cases had issued pre approval to the projects which are under investigation and demolition. Majority of the buyers are borrowers and… Read More

REGISTRATION VALUE OR THE GUIDANCE VALUE OF THE PROPERTIES REGISTERED – TAX EVASION – PENALTIES – TAX EVADERS GOT RED HANDED – RBI -INCOME TAX DEPARTMENT – STAMPS AND REGISTRATION DEPARTMENT – STAMP DUTY EVASION – PENALTY – 10 TIMES THE TAXES EVADED


In a bid to reduce or evade the stamp duty at the time of registration, the buyers and the sellers of the properties, have not SHOWN  the real sale price or consideration in the registered sale deed, but 90% of the buyers have borrowed money or availed institutional finance under HOME LOAN scheme, have falsified… Read More

Tax Evaders/Benami Transactions – 7,00,000 NOTICES


FAILED TO MENTION THE PAN NUMBERS IN THE TRANSACTION OR TRYING TO EVADE TAX – THE GOVERNMENT HAS PROPOSED TO SEND 7 LAKH NOTICES       The Finance Ministry is sending out 7 lakh notices on big transactions which appear suspicious because PAN numbers were not disclosed. The Department will be issuing letters to the parties… Read More

PROPERTY OR MUNICIPAL TAXES – UNDER VALUED AND UNDER PAID


It is common knowledge that some property owners ( Constructed Buildings ) declare the lesser extent of the constructed area either commercial or residential buildings to evade taxes, is done deliberately. There are some, who have built commercial buildings and are paying taxes as RESIDENTIAL BUILDINGS. There are few, who have leased or let out… Read More

RS.250 CRORES SCAM IN BANGALORE NORTH – ILLEGAL AND IRREGULAR LAYOUTS AND SITES WITH INVALID AND BOGUS E-KATHA IN FORM NO.9 AND 11 – ENQUIRY IS IN PROGRESS – BANGALORE NORTH


A NEWS REPORT ON ILLEGAL AND UNAUTHORISED LAYOUTS IN BANGALORE NORTH. ILLEGAL LAYOUTS IN GREEN BELT AND FAKE DC CONVERSION ORDERS A COMMITTEE HAS BEEN SET UP BY THE GOVERNMENT TO INVESTIGATE THE SCAM MOST OF THE ILLEGAL SITES ARE REGISTERED AND ALL SUCH ILLEGAL AND IRREGULAR PROPERTY REGISTRATION WILL AUTOMATICALLY GETS CANCELLED. CHECK BEFORE… Read More

MANYATA TECH PARK IS IN NEWS AGAIN FOR NON PAYMENT OF TAXES


It has become a fad for the developers and builders for not making (paying)the municipal and other taxes to the local authorities and in one such an instance, the BBMP has issued a notice to the Manyata Tech Park management (managed by a politician in power) to pay the revised taxes and as usual, the… Read More

TAX EVADERS (LEADING CREDAI BUILDERS) IN THE NET


VAT TAX  THE COMMERCIAL TAXES DEPARTMENT HAS WOKEN UP AND RAIDED SEVERAL BUILDERS LIKE MANTRI, DS MAX, EMBASSY AND NITESH AND COLLECTED OVER 140 CRORES IN THE ARREARS OF VAT COLLECTED BY THESE BUILDERS FROM THE BUYERS OF THE PROPERTY. IT IS TO BE NOTED THAT THESE BUILDERS COLLECT THE VAT OR COMMERCIAL TAX FROM… Read More

XXXXXX (REAL ESTATE) RAIDED BY COMMERCIAL TAXES


IT HAS BEEN WIDELY REPORTED THAT THE COMMERCIAL TAXES DEPARTMENT HAS INITIATED PROCEEDINGS AGAINST THE REALTY MAJOR `xxxxx` AT BANGALORE FOR THE RECOVERY OF TAXES ON ITS PROJECTS ON DEVANAHALLY ROAD AND OTHER AREAS. AS REPORTED EARLIER, NOTICES HAD BEEN ISSUED TO FEW REAL ESTATE COMPANIES IN BEGUR, BANNERGATTA ROAD AND THE DEPARTMENT IS INVESTIGATING… Read More

JOINT DEVELOPMENT AGREEMENTS EXECUTED FOR APARTMENTS AND LAYOUTS – UNDER REVISION – STAMPS AND REGISTRATION DEPARTMENT –


THE STAMPS AND REGISTRATION DEPARTMENT HAS DETECTED TAX EVASION IN THE JOINT DEVELOPMENT AGREEMENTS EXECUTED BETWEEN THE LAND LORD AND THE DEVELOPERS AND BUILDERS AND HAS REOPENED THE FILES BY ISSUING NOTICES TO THE CONCERNED LANDLORDS AND THE BUILDERS/DEVELOPERS. IT IS FELT THAT THE DUTY LIABILITY ALONG WITH THE FINE WILL BE IN TUNE OF… Read More

OPPORTUNITY FOR FRAUDS, CHEATS, TAX EVADERS, CORRUPT AND TAINTED OFFICIALS AND POLITICIANS AND DESH DROHEES TO DECLARE THEIR ILLEGAL WEALTH & MONEY STASHED AWAY ABROAD!!!!!!! BY ALL, EXCEPT CRIMINALS AND TERRORISTS


GOT ILLEGAL WEALTH, MONEY AND ASSETS – DO NOT WORRY – THE GOVERNMENT MAY GIVE YOU A BREATHER – BRING IN  AND EARN AND ENJOY !!!!!!!!!!!!!!!!!!!!!!!!!!! VOLUNTARY DISCLOSURE SCHEME TO BRING BACK THE BLACK MONEY @!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!  The government is seriously considering the option of a voluntary disclosure scheme” for bringing back unaccounted money kept in banks abroad.… Read More