09 July 2012
Respected Sir/Madam, I recently[june 2012] Purchased a flat of value 31.50 lacs. Will the subregistrar inform this to income tax department. Will the subregistrar inform immediately or he will do so in august 2013 when he files AIR. Will the sub registrar send address of the flat that I have purchased. Do you think that registrar's file AIR regularly without fail.
If I purchased the flat in Punjab will the income tax authorities in Himachal Pradesh know of this purchase.
09 July 2012
Dear Sanjay! Income Tax Department is not bound by the state boundaries because its under Central Government. Hence, if you make any transaction in India (In any state) IT Dept may ask for clarification of the same.
CAclubindia
