Everyone says corrupt cops, politicians, govt officials, rowdies, judges, IAS, IPS folks wash black money and bribes to white using real estate. But for buying even above Rs 50 Lakhs, you need TDS and with stamp registration as well, you cant hide anything. So how do they do it?
Whenever you hear an argument as to why RE prices in India are sky high, one of the top reasons given is that all the corrupt people netas and cops etc wash their bribes and black money into real estate.
But when you want to buy even a small apartment, even if you are paying a portion in cash or even full in cash you have to submit the PAN and TDS gets deducted, moreover on registration as well there are records created. So how exactly do the corrupt people wash their black money into real estate?