Aadhaar can curb black money in real estate
Government is considering linking real estate transactions with Aadhaar
Nov 07, 2014
Source : niticentral.com
Arun jaitley

 

Finance Minister Arun Jaitley, in an interview, said that to curb the use of black money in property deals, the Government is considering linking real estate transactions with Aadhaar. It can solve the problem of property buyers using fake and multiple PANs to avoid detection by the income tax department.

Economic affairs commentator Gautam Mukherjee says this is an additional input by the Government to have each and every real estate transaction on identification grid. He welcomes the move adding that Government should widen the tax base and impose expenditure tax instead of income tax. If Aadhaar can bring transparency, certain policy changes should also be done by the Government to avoid black money transactions.

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