PRE LAUNCH PROJECTS AND OUR ARTICLE ON THE SCAM PUBLISHED ON 29-01-2013


a-representatin-to-the-chief-minister-by-the-affected-to-take-action-against-cheating-real-estate-companies

COMPLAINT SUBMITTED TO THE CHIEF MINISTER OF KARNATAKA IN JANUARY 2017

PUBLISHED ON JANUARY 29, 2013- ALMOST THREE YEARS AGO – NOW THE BUYERS ARE FEELING THE HEAT AND PINCH

PRE LAUNCH HOUSING (APARTMENT) PROJECTS

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FULL PAGE NEWS PAPER PUBLICATIONS (ADVERTISEMENTS), INTERNET (ELECTRONIC MEDIA) AND OTHER MODES OF ADVERTISEMENTS ARE BEING RESORTED TO WOO AND COMPEL THE POTENTIAL APARTMENT BUYERS TO INVEST AND BUY HOMES AT LOW COST OR AT COST PRICE OR AT TEMPTING PRICES BY MARKETING AGENTS/EXECUTIVES IN BANGALORE.  PLEASE CONDUCT A DILIGENT CHECK AND SCRUTINY OF THE TITLES(DOCUMENTS) APPROVALS AND THE BACKGROUND OF THE SELLERS AND THE OWNERS BEFORE INVESTING.

SOME OF THE COMPELLING STATEMENTS OR ARGUMENTS IN SUPPORT OF THE SALES CLAIM ARE:

1). WE HAVE COMPLETED  xxxx MANY PROJECTS AND APARTMENTS.

2). BANKS HAVE APPROVED OUR PROJECTS.

3). WE HAVE SOLD  XXXX APARTMENTS OR XXXX MANY BUYERS HAVE BOOKED OR INVESTED IN OUR PROJECTS.

PLEASE OBTAIN ALL THE DETAILS WITH DOCUMENTARY EVIDENCE REGARDING THE COMPLETED PROJECTS.

DEMAND A LETTER FROM THE BANK THAT THE TITLES OF THE PROPOSED PROJECT OR PROPERTIES ARE CLEAR AND THE BANKS WILL TAKE THE RESPONSIBILITY OF NOT DEMANDING REFUND OF THE LOAN, IF THERE IS ANY SUITS OR LITIGATION.

PLEASE COLLECT THE COMPLETE NAMES AND FULL ADDRESSES OF ALL THOSE THOUSANDS OF APARTMENT BUYERS, WHO HAVE BOOKED THE PROPERTIES.

CHECK ALL THE RELEVANT DOCUMENTS AT THE CONCERNED THALUK OFFICE, DC OFFICE, BDA/BBMP OFFICE, INCOME TAX DEPARTMENT, BMTF AND SUB-REGISTRAR OFFICE AND PLACE A PUBLIC NOTIFICATION IN THE NEWSPAPERS INVITING CLAIMS OR OBJECTIONS FROM THE CLAIMANTS OR PUBLIC.

CHECK ALL THE PERMISSIONS, LICENSES, APPROVALS, NOCS AND CONSENTS AND THOROUGHLY READ ALL THE CONDITIONS ON WHICH SUCH PERMISSIONS ETC ARE ISSUED.

CHECK ALL THE ORIGINALS BEFORE ISSUING THE CHEQUE OR CASH.

ISSUE CHEQUE DIRECTLY IN THE NAME OF THE ORIGINAL OWNER AND NOT TO ANY MARKETING AGENCY OR OTHERS. OBTAIN OFFICIAL AND LEGITIMATE RECEIPT.

A SCAM IS BREWING!!!!!!!

Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai, Nagpur and Ahmedabad


MINISTRY OF FINANCE

INCOME TAX DEPARTMENT

Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai, Nagpur and Ahmedabad

Income tax investigations at Mumbai led to the revelation of a syndicate of ground level operators active in converting banned currency notes into legal tenders for a commission. As part of the operation to nab the culprits, Income Tax Investigation Directorate sent out a few decoy customers seeking to exchange banned currency notes into new notes. The syndicate, acting through its mediator, agreed to the exchange for a 35% commission. The exchange was to take place at the mediator’s residence. The mediator was caught red handed and new currency notes aggregating to Rs. 29.5 lakh was seized.

It has now emerged that the syndicate comprised of many ground level operators (GLOs) – mainly local youths led by a master aggregator and a mediator. The mediator would seek customers. The GLOs would withdraw new currency in their own names or names of friends and family within the prescribed weekly limits, pass it on to the aggregator for a commission and deposit the old notes in their own accounts or accounts of family or friends in small sums.

Another investigation into cash deposits in a bank account in Nagpur revealed that the account holder had no knowledge of the existence of her account where Rs. 3.29 crore had been deposited after 8th November, 2016. Enquiries by the Department revealed 6 more such accounts in her and parents’ names. The 7 accounts were opened and operated by unknown persons to launder cash of Rs. 4.25 crore. Evidences gathered suggest that copies of PAN and other personal documents that she handed over to a friend few years back were used to fraudulently open these accounts in Kolkata, which were operated to channel suspicious funds to 8 beneficiaries, who are now being investigated.

In an interesting case at Ahmedabad, discrete intelligence gathered by the IT investigation team led to a survey at the premises of a transporter in the late hours of 3rd December, 2016. Twenty four cartons in the godown of the transporter meant for transport to Delhi were found. Lorry receipts declared these to contain fire crackers. When the cartons were opened and examined, two cartons were found to conceal currencies in the denomination of Rs.100 aggregating Rs. 27 lakhs. On interrogation, the consigner claimed that the cash was on account of sale of fire crackers being transported to Delhi for purchase of fire crackers. The cash was seized on 5th December, 2016.

DEPOSITING OR ENCASHING RS.500/- AND RS.1,000/- NOTES. BEWARE !!! THE INCOME TAX DEPARTMENT IS WATCHING YOU


As per the IT department, the physical cash circulation in India is Rs 17 lakh crore and out of this, 88 per cent is Rs 500 and Rs 1,000 notes. Official data suggest that 40 per cent of black money is generated in real estate, while stock market and bullion transactions are other big sources.

  1. The Income Tax department will keep a check on individuals who exchange cash amount of Rs 2 lakh and above.

  2. The objective is to make Indians tax compliant, eventually leading to higher revenues for the government.

  3. The IT department has been asked to keep record of every individual, their PAN card details, and tally it with tax filing.

  4. Accordingly, the department will impose penalty, which could be between 30 per cent and 120 per cent, depending on the source of income.

 

REALTOR UNDER THE INCOME TAX SCANNER AT BANGALORE


POLITICALLY POWERFUL REALTOR GROUP, WHICH ACQUIRED HUGE STRETCH OF PROPERTIES, EVER SINCE, THE ARRIVAL OF NEW GOVERNMENT IN THE STATE IS UNDER THE SCANNER OF ENFORCEMENT DIRECTORATE AND SCRUTINY BY THE INCOME TAX DEPARTMENT.

THE AGENTS, DIRECTORS, SELLERS AND BUYERS ARE IN THE NET.

IT IS SAID THAT THE CATCH WILL BE HUGE WITH LOTS OF INPUTS FROM DIFFERENT SOURCES.

IT IS ALSO SAID THAT THIS NEW GROUP EMERGED, ALL OF A SUDDEN FROM THE BRINK, RAISING SUSPICION.