Patiala: The Income Tax Department has geared itself to send notices to serve notices to about three thousand defaulters, who have sold off their agriculture land for four-laning projects and claim the compensation for commercial lands.
Sources in the Income Tax Department on the condition of anonymity told that the department has received a fully confidential report in which the things cropped up.
These sources claimed that this exercise will definitely add money in the kitty of department as defaulters will have to dole out 20 per cent tax over their income.
It may be mentioned here that the project on four-laning of Chandigarh-Bathinda highway is on and for this purpose state government purchased the land. The farmers after selling their agriculture land claimed the awards for commercial land.
Principal Commissioner of Income Tax Department, Dr Jagtar Singh said that so far the department has received an insider report about it and the matter is under investigation.
Singh said that the department is committed to punish tax offenders. He made it clear that every person has to dole out 20 percent tax in case he or she sold commercial land.
Interestingly as per Municipal Bylaws the lands falling in 8 Km radius of city is considered as commercial ones and beyond this entire land is considered as agricultural lands.
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