Tax evasion: Government has detected over one lakh crore of undisclosed income

IT department of India has detected over one lakh crore of undisclosed income in the last financial year. This is more than double from its previous financial year. The action was conducted by the I-T department against individuals, business firms, corporates and other financial institutions to check tax evasion.

According to official data, the I-T department detected undisclosed income worth Rs. 10,791.63 crore in search operations during the just concluded 2013-14 fiscal while it also found unreported income of Rs. 90,390.71 crore in survey operations conducted during the same period across the country.

The I-T department also seized assets like jewellery, fixed deposits and cash worth Rs 807.84 crore as it executed 4,503 warrants and launched searches on 569 entities during this period. The number of search warrants executed by the investigations wing of the I-T department also saw an upward trend in the last fiscal.

Source: http://www.thehindu.com/news/blackmoney-over-rs-1-lakh-cr-illegal-income-detected/article6217419.ece?ref=sliderNews

Mobile app for the Property Search and apartment management

CommonFloor.com, India’s leading online real estate portal, has released mobile apps -one for real estate property search and another for “CommonFloor Group” to connect residents (living in the same community) each other.

CommonFloor Groups is India’s largest apartment management tool with over one lakh gated communities and ten lakh residents using it across the country. The ERP level tool offered by CommonFloor is a free of cost solution.

CommonFloor Groups App

CommonFloor Groups (formerly CommonFloor Communities) is a private platform for all the residential complexes that helps them in bringing all the residents together to build a happy, close-knit and well-managed community. This beta App allows residents a faster access to their residential complex Group.
https://play.google.com/store/apps/details?id=com.groups.commonfloor

CommonFloor Property Search App

CommonFloor Property Search app helps you to search real estate projects and properties on the go. Search, Buy, Rent and Sell Properties in India – apartments, flats, houses, housing, villas, residential projects, shortlist preferred properties, view property and project details, contact owners, builders, brokers, post property requirements, post property ads and much more like map search, augmented reality to view properties around your nearby location.

https://play.google.com/store/apps/details?id=com.commonfloor

About CommonFloor

CommonFloor.com, a product of maxHeap technologies Pvt Ltd, is a leading online real estate portal dedicated to apartments and gated communities. It is also the first to host an online community management platform that extends its role way beyond real estate buying and selling or renting of properties in India.

CommonFloor.com, founded by Sumit Jain, Lalit Mangal and Vikas Malpani started in December 2007. Lalit and Sumit were batchmates at IIT Roorkee and then went on to work at Oracle for a year, before quitting their jobs in mid-2007. Vikas is a computer engineer from Bangalore and worked at SAP Labs before starting work on CommonFloor.com.

CommonFloor head office located in Bangalore and branch offices at Chennai, Hyderabad, Kochi, Gurgaon, Noida, Mumbai, Pune, Kolkata and Ahmedabad.

Source: yourstory.com | thehindubusinessline.com | CommonFloor.com