The income tax department is sitting on voluminous data collected by banks and financial institutions after the demonetisation drive. Owing to the new reporting requirements, banks and post offices are required to report all cumulative cash deposits above Rs 2.5 lakh and one-time cash deposits of more than Rs 50,000, and accordingly it is estimated that banks and financial institutions will report around 40 lakh accounts and The recent demonetisation drive by the government is expected to have a positive impact on the real estate sector in the long run as it would restrict the flow of black money into the sector.
1. Suraj Nangia, Partner with inputs from Shailesh Kumar, Director contributed an article on Budget 2017: Arun Jaitley must stimulate real estate demand for Financial Express.
Attached is link to the article
http://www.financialexpress.com/budget/budget-2017-arun-jaitley-must-stimulate-real-estate-demand-5-top-changes-that-can-power-up-sector/528401/
2. Neha Malhotra, Executive Director contributed article on Budget 2017 – Black money: Arun Jaitley set to tighten screws on tax evaders for Financial Express.
Attached is link to the article
http://www.financialexpress.com/budget/budget-2017-and-black-money-arun-jaitley-set-to-tighten-screws-on-tax-evaders/529934/
