I-T dept probes 500 Dubai property cases, Rs 700 cr evasion found in Delhi

Quick Summary:

India has recently received information from Germany about properties owned by Indians in West Asia.

Dubai’s real estate market has attracted numerous Indian investors in recent years, offering schemes requiring as little as a 10 per cent down payment, with the balance payable over several years.

During the Delhi searches, taxpayers admitted to investing more than Rs 125 crore in undisclosed cash, according to the official.

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Article Details

Category: BusinessFinance

Markets: IndiaGermanyUnited Arab Emirates

Topics: Indian real estate abroad Undisclosed properties Germany information exchange Income tax property cases I-T raids Dubai property cases Foreign Asset Investigation Unit Dubai properties by indians Income tax department news Tax evasion Income Tax department Black money Properties in Dubai by india Dubai

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 11:39:13 (14 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 432 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23938573

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