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LATEST NEWS UPDATES | Aadhaar may be used to curb black money in real estate -Remya Nair, Asit Ranjan Mishra and Madhurima Nandy

Aadhaar may be used to curb black money in real estate -Remya Nair, Asit Ranjan Mishra and Madhurima Nandy

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published Published on Nov 5, 2014   modified Modified on Nov 5, 2014
-Livemint

Finance minister Arun Jaitley says govt is considering making the use of Aadhaar mandatory for real estate transactions

New Delhi/Bengaluru: In a move aimed at curbing the use of black money in property deals, the government is considering linking real estate transactions with Aadhaar, the unique identity number.

If implemented, the move could provide a trail of all real estate transactions by an individual. It could also potentially solve the problem of property buyers using fake and multiple permanent account numbers to register their transactions to avoid detection by the income tax department.

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Livemint, 4 November, 2014, http://www.livemint.com/Politics/pTOLf2bF3CZd3lRCCAuh1J/Aadhaar-may-be-used-to-curb-black-money-in-real-estate.html


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