IT dept warns Benami Holders, Scrutinise all properties above Rs 30 lakh

New Delhi Nov 15: In a Move to crackdown the Benami Property the Income Tax department has said that it would scrutinise the tax history of all people who have properties registered above a value of Rs 30 lakhs.

CBDT chairman Sushil Chandra has said that "The Income Tax Department is matching the "tax profiles" of all property registrations of above Rs 30 lakh under the provisions of the anti-Benami Act, as action against illicit asset holders is set to intensify".

The Central Board of Direct Taxes chief has also said that "the taxman is also investigating those shell companies and their directors whose operations were recently debarred by the government as part of the drive to check black money generation through their abuse."

The IT dept revealed that it has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed is about Rs 1,800 crore.

The Announcement assumes significance because recently the PM has hinted that more action would be taken on benami property.Currently, under the law, a Benami holder would be fined and sent to jail if he has benami property.