ENA Sectors 2023-04-11 16:51:19 <p><span style="font-size:14px"><strong>Hyderabad, Apr 11 (KNN)</strong> Sub-registrars are statutorily obligated to report immovable property transactions exceeding Rs 30 lakh and collect pan of all transacting parties for transactions exceeding Rs 1 lakh.</span></p> <p><span style="font-size:14px">This was informed at a seminar on filing of statement of financial transactions (SFTs) which was conducted by directorate of income tax (intelligence and criminal investigation), Hyderabad at income tax office.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">A statement containing all reportable transactions is required to be filed by sub-registrars by 31 May, 2023.</span></p> <p><span style="font-size:14px">The directorate of intelligence and criminal investigation is tasked with the responsibility of ensuring timely and defect free filing of statement of financial transactions.</span></p> <p><span style="font-size:14px">Addressing the large gathering of sub registrars of Hyderabad, Ranga Reddy and M. Vijay Kumar, IRS, Director (I&amp;CI) explained the importance of filing of SFTs by the Sub-Registrars in augmenting the revenue collection. </span></p> <p><span style="font-size:14px">Vijay Kumar, IRS also touched upon the scheme of e-verification that has resulted in filing of updated return in large numbers. <em><strong>(KNN Bureau)</strong></em></span></p> 32943 https://knnindia.co.in/news/newsdetails/sectors/sub-registrars-to-collect-pan-for-transaction-above-rs-1-lakh-notify-income-tax-if-property-value-exceeds-rs-30-lakh 2023-04-11 16:51:19 knnindia.co.in