Corruption in property transaction
So a bollywood star bought an apartment in mumbai for 31.5 crores in 2015 and sold for 32.5 crores in 2022 as she spends more time in London these days.
Everyone most likely knows what happened in this transaction. It is highly likely a premium of 15 crores was paid in cash.
Most bollywood stars are doing this.
What is the Govt doing to stop this rampant generation and usage of black money.
7 years post notebandi, people still making fool of the Govt more
Everyone most likely knows what happened in this transaction. It is highly likely a premium of 15 crores was paid in cash.
Most bollywood stars are doing this.
What is the Govt doing to stop this rampant generation and usage of black money.
7 years post notebandi, people still making fool of the Govt more
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So far intent of the govt. is not on right path this will continue to happen. So many fraudsters moved out of the country still no one could be brought back. So why to expect eradication of corruption from this country? more
Jan 07
The government is run by IAS officers. They allow loop holes in laws for smart people to take advantage. One example is provision of Input Tax Credit in GST. Frauds of thousands of crores are happening but no action taken to rationalise GST rates without ITC. Another example is Bottled water being sold at different prices. It took more than 2 years to get Packaged Commodities Act amended. But again a loop hole was left in the Act. Now water bottles with different MRP are supplied as per buyer's requirement. One litre of water is sold @ Rs.20 to Rs.60. more
Jan 07
Wishful thoughts on cash transactions. Its not as easy as the writer has stated. Property prices in Mumbai have stagnated in Mumbai for quite a while. I wonder who pays a 50% premium in cash that too running into crores of rupees. This is just an imaginative post meant to titillate, without any facts or basis. There is some level of cash component in real-estate transactions, but not to the extent as indicated. All high-value transactions get scrutinsed by several authorities both at State and Central level. more
Jan 06
You are correct this post has no factual basis. It is a shame that people post rant on this list serve. more
Jan 07
It is not just in India, it is human nature and done all over the world. I am not sure how it is possible for them to move money? When you move large amount of money in and out of the country it has to be declared. more
Jan 07
Stamp duty is charged on transaction value or circle rate whichever is higher. When writer of this thread can estimate the cash transaction then why government officials can't. Though govt officials are well qualified and recruited thru competitive exams. Entire chain has their hands in gulves. more
Jan 05
