The government can seek details from sellers such as sources of funds while buying, reports Tinesh Bhasin/Business Standard. When you sell a property next time, expect a letter from the Income-Tax (I-T) department, asking you to explain when you acquired it and the source of funds. This could be one of the ways the government could zero in on benami property holders. Lawyers say that earlier it was usual practice by the department to call buyers to explain sources of funds whenever someone ... Rediff.com, 2 months ago
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India’s debt recovery and restructuring framework is still a work in progress, even six months after the President's assent to the Insolvency and Bankruptcy Code 2016. Illustration: Uttam Ghosh/Rediff.com. Even after six months of the Insolvency and Bankruptcy Code 2016 receiving the President’s assent, India’s debt recovery and restructuring framework is still a work in progress. Stakeholders feel that issues regarding inadequate insolvency infrastructure, small pool of ...Rediff.com, 2 months ago
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