Nagpur: The Income Tax Department’s Intelligence and Criminal Investigation Wing has exposed a major case of undervalued property registrations at the Sakkardara Sub-Registrar Office (Nagpur) and in Buldhana district. The probe revealed that transactions worth nearly ₹520 crore were registered at undervalued rates to evade taxes.
This comes on the heels of an earlier ₹1,300 crore scam detected at the Hingna Sub-Registrar Office, after which the department had hinted at expanding its scrutiny to other offices.
Key Findings:
- Around ₹500 crore worth of transactions were uncovered at the Sakkardara SRO (Nagpur).
- Nearly ₹20 crore of irregular deals were detected at the Mankapur SRO (Buldhana).
- Several transactions were missing from the ‘Statement of Financial Transactions’ (SFT) database, hampering the department’s ability to track fund flow and identify black money channels.
- Many buyers declared annual incomes of just ₹10–20 lakh but purchased properties worth several crores. Some falsely cited “unsecured loans” as their funding source.
- Multiple sellers were also found to have evaded capital gains tax.
Officials confirmed that this was deliberate non-reporting, not a clerical or technical lapse. Under the Income Tax Act, all reporting entities must file transaction details above a certain threshold through Forms 61, 61A, and 61B within the prescribed time.
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4 Oct 2025
The department has announced strict action, including:
- Issuing notices and correction orders,
- Levying heavy penalties,
- Prosecuting offenders if required.
Preliminary probes also suggest that high-value property deals recorded on Maharashtra’s ‘E-Sarita’ property registration portal were intentionally kept out of the SFT system to bypass automated monitoring.
