Tax Au­thor­i­ties Divided as Re­alty Play­ers Claim Cash Deals as ‘Loans’

The Economic Times - - Front Page -

Tax au­thor­i­ties in In­dia are split down the mid­dle on how to treat cash deals of builders — cash re­ceived from home­buy­ers, cash used to buy land, and most im­por­tantly, cash shown as ‘loans’ taken for con­struc­tion from un­named mon­ey­bags.

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