Tuesday, February 1, 2011

Income Tax department should raid ....................

Income Tax department should raid Real Estate Agents /Brokers.
Income Tax department should raid those  who spend lavishly on marriages.


From one of the Real estate deal websites, I could find that number of estate
agents (this is only who are formally registered on the website) in Mumbai
are 4000.

If these brokers are making 5 lacs Rupees on average and not paying income tax
it will be 20000 lacs i.e. 200 Crore Rupees of unaccounted money.

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Similarly a business of marriage in India is 1.1 lac Crore,
10% of union budget.

Jewellery business (due to marriage ) is 75 000  crore,
 Mehndi is  5000 Crore ,
Mandap (pandal)/hotel rooms is around 10,000 Crore.
Now all these agencies especially those connected
with big and grand marriages need Income Tax check.

Income Tax Department can really do something worthwhile
rather than penelising regular taxpayers who find rewgular returns.


Warm Regard
Mr. Bankim Shah

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