8 years post demonetisation: Black money still haunts real estate

Quick Summary:

A striking 90% of citizens believe that black money is prevalent in real estate and construction, where many payments are still made in cash to avoid taxes.

Despite the government’s push for digitisation, a significant portion of the population is either unaware or has not been prompted to link their property documents with Aadhaar.

This is expected to prevent tax evasion, curb illegal transactions, and reduce the usage of black money in real estate deals.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Bhu Aadhaar Land reforms India Property fraud prevention Government RegulatioN Black money DILRMP Urban land records Transparency Black money in real estate Demonetisation Aadhaar Linking Land reforms budget 2024 Aadhaar property registration Real Estate Demonetisation Corruption Benami transactions GST receipts Corruption in real estate Black Money LocalCircles survey Rural land digitisation Real estate Property records Real estate audits Property transparency Black money reduction India Land digitisation Real estate transparency Government reforms Aadhaar linkage Accountability

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 11:01:55 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 821 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23467671

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 250 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

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Publisher ID: #49

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