Indore: The Income Tax Department will tighten the noose of those who evade Capital Gain tax. To check this, the department has sought information of registries of immovable properties from 2016 from the state government. Talking to media here on Tuesday, Principal Chief Commissioner of Income Tax Ajay Kumar Chauhan informed that he has written to Inspector General (IG) of Registration and Stamps, seeking copies of registries of immovable properties of across the state conducted from 2016. In such dealings, 1% TDS on sale of the property worth Rs 50 lakh above is deposited at the time of conducting the registry, but the seller evades paying the Capital Gain Tax, which is an offence as per the I-T Act 1962.
Talking about the Indore Region, he said we had traced 408 cases of selling property in FY 2018-19. In 68 cases, ITD traced found that property sellers did not file the returns. He said that notices will be served to all those who did evaded Capital Gain Tax. Similarly, he said that he has obtained the list of 2100 companies of the state from Registrar of Companies, Gwalior, who aren’t filing the returns. They are also on radar of ITD. He once again appealed to tax payers to deposit the advance tax of self assessment honestly by March 15 and file the returns by March 31.