Economic intelligence agencies have informed the FM (Finance Ministry) that a major chunk of illegal funds & black money is being generated and routed in the real estate sector of India.
Undisclosed Income 40%..!
Special departments like the CEIB (Central Economic Intelligence Bureau), Income Tax (Intelligence) and the Directorate General of Excise Intelligence have alerted enforcement agencies like the Enforcement Directorate and I-T (Investigations) to conduct special operations and keep a tight vigil on the funds moving in real estate sector.
The CEIB reported that during the year 2011, the maximum percentage of undisclosed income (40%) was detected in the real estate sector, followed by the manufacturing sector (27%).
The CEIB is the nodal body for collection & dissemination of economic intelligence data. It coordinates with all the concerned agencies in the area of economic offences like the I-T, ED, DRI (Directorate of Revenue Intelligence), Customs & other agencies like the NCB (Narcotics Control Bureau), CBI and the IB (Intelligence Bureau).
Rs. 1,400 crore..!
The concealed incomes were detected by the investigation units of the I-T department and the total undisclosed income in the real estate and construction sector was more than Rs. 1,400 crore, while the manufacturing sector reported above Rs. 1,100 crore of stashed funds during the calendar year 2011.
Undisclosed Income 40%..!
Special departments like the CEIB (Central Economic Intelligence Bureau), Income Tax (Intelligence) and the Directorate General of Excise Intelligence have alerted enforcement agencies like the Enforcement Directorate and I-T (Investigations) to conduct special operations and keep a tight vigil on the funds moving in real estate sector.
The CEIB reported that during the year 2011, the maximum percentage of undisclosed income (40%) was detected in the real estate sector, followed by the manufacturing sector (27%).
The CEIB is the nodal body for collection & dissemination of economic intelligence data. It coordinates with all the concerned agencies in the area of economic offences like the I-T, ED, DRI (Directorate of Revenue Intelligence), Customs & other agencies like the NCB (Narcotics Control Bureau), CBI and the IB (Intelligence Bureau).
Rs. 1,400 crore..!
The concealed incomes were detected by the investigation units of the I-T department and the total undisclosed income in the real estate and construction sector was more than Rs. 1,400 crore, while the manufacturing sector reported above Rs. 1,100 crore of stashed funds during the calendar year 2011.
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