E Passbook for Property owners soon issued in April

By | January 10, 2017

E Passbook for Property Owners are issued by Income Tax Department in April.

Government which is under huge involvement of Black money removing is going to issue E passbooks. There are Electronically Verified and authenticated certificates to show owner ship of land. Up to now Only Revenue records are classified as ownership rights.

But from April First we are going to see resurvey of Each property, Lands, Farms, Estates etc. All Economic zones are now getting this alert from government. With this E passbook all property owner ship rights are linked to aadhar.

After linking to aadhar one must present his registration documents for Verification. This is major step to stop property accumulation in terms of Black money. All Black money holders also have big assets in lands and infrastructure. Benami people will be scapegoats in this process.

Some corrupted people has huge land investments and their records are up to now not updated. With this E passbook option each and every Indian assets are linked to aadhar. If they have bought any property they must enter it in E-passbook.

Deputy Commissioner of Hyderabad Income tax department has said this in interview. More than 8 lak crore undisclosed property are in hands of few black money holders. He also said that out of 25 crore citizens who have PAN number only 5 crore are filing their tax returns.

How to Get E passbook for Property in India?

The official procedure and Government law is not produced in parliament. But Officials roar this may happen in April. Up to now only money is termed for Tax filing. But Benami or blocked properties are also a huge blunt in corruption.

After a specific law is produced E passbook is issued by Government free. It is same as Property card in cities such as Bangalore, Delhi, Mumbai, Chennai etc.

A survey is done for each property and cross checking will be done about owner ship rights.