The Sub registrar offices in Uraiyur in Tiruchirapalli district and Redhills in Thiruvallur district did not disclose transactions worth Rs 3,000 crore reportedly to the Income Tax department. This has resulted in registration department taking disciplinary action against the registrars.
This comes after the Intelligence and Criminal Investigation wing, Directorate of Tamil Nadu of the Income Tax department conducted a survey in the two sub-registrar offices on Tuesday and Wednesday. The non-disclosure of property transactions that have taken place was valued at Rs 2,000 crore at the SRO in Redhills and in Uraiyur it was Rs 1,000.
As per the norms, an Inspector-General or a Sub-Registrar should declare information about purchase or sale by any person of immovable property if it is Rs 30 lakh or more in the form of a Statement of Financial Transaction (SFT) to the department.
Official sources said that the sub-registrar did have the details in their system but it was not uploaded on the website of the Income Tax. The details of the documents registered from the financial year 2017-2018 were provided by the sub-registrars as requested by Income Tax department on Wednesday.
As per Section 285 BA and Rule 114 E of the Income Tax Act, details such as seller, buyer, Aadhaar number, PAN number, nature of property, value of property etc. are uploaded on the website of the Income Tax Department by the Registration Officers at the end of every financial year. This is called Form 61A. All the registrar offices have been informed through a circular from the head of the registration department emphasizing that these details should be uploaded regularly every year.
The Star 2.0 software of the Registry Department is designed to receive the information required for such uploading from the document holders before booking the document for registration. PAN numbers are obtained from both the seller and the buyer in case of registration of sales documents above Rs 10 lakh. Those who do not have PAN number should file Form 60 as per Income Tax Act. This information is also collected through software. And depending on the sale documents above Rs 30 lakh, additional details like seller, buyer, Aadhaar number, PAN number, nature of property, value of property are collected through Star 2.0 software. The details thus collected will be uploaded by the Registrar on the website of the Income Tax Department at the end of the financial year.
"All the registrants are strictly advised to upload the 61A details on the website of the Income Tax Department within due time," a release added.
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