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black money in real estate

Accounting standards for real estate sector to change: Revenue Department

Accounting standards for real estate sector to change: Revenue Department
The Revenue Department has declared that it is going to introduce changes in the accounting standards for the real estate sector to bring about uniformity in reporting of financial results. The Central Board of Direct Taxes (CBDT) has stated that the report of the CBDT appointed committee on accounting standard for the real estate sector [...] Continue Reading »

CREDAI opposes any black money transactions in real estate

CREDAI opposes any black money transactions in real estate
The Confederation of Real Estate Developers Association of India (CREDAI) has decided to prevent any black money transaction in Indian real estate sector. Many people believe that real estate is the best sector where they can invest their ill-acquired money. According to CREDAI, builders are encouraging the black money in real estate to increase the [...] Continue Reading »

CREDAI wants reforms in real estate regulations

CREDAI wants reforms in real estate regulations
The Confederation of Real Estate Developers’ Association of India (CREDAI) said that there is a need for comprehensive reforms to check black money and corruption in the realty sector. CREDAI has been advocating for single window system for project clearances to cut down time and chance for corruption. CREDAI has recommended reforms in four key [...] Continue Reading »

Government favours TDS to stop black money in real estate business

Government favours TDS to stop black money in real estate business
The government of India is planning to check the generation of black money in the real estate sector in India. In order to do that the government again suggested to introduce the tax deduction at source (TDS) on sale-purchase of properties in India. In a Paper on black money prepared by the Finance Ministry, it [...] Continue Reading »



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