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ITR portal shows inflated income to some taxpayers; Rs 450 showed as Rs 45000. Here's what to do if you face similar issue

The Income-tax department said on X said that they have "identified certain inconsistencies in the data of the securities market (SFT-17) provided by one of the Reporting Entities." It appears that due to this the Income-tax department s Compliance Portal showed highly inflated transaction values for some taxpayers in their annual information statement (AIS). Some taxpayers say that their sale consideration of Rs 4 lakh got inflated to Rs 17 crore. There are many taxpayers who complained on X about the Compliance Portal showing inflated transaction values in their AIS. ....

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Commercial realty to benefit with easier debt financing norms for REITS

New Delhi [India], February 2 (ANI/NewsVoir): The commercial real estate industry in the country will get a shot in the arm as Finance Minister Nirmala Sitharaman today said that debt financing of REITs will be enabled by way of making amendments in the current financing models.
While presenting the Union Budget 2021, Sitharaman also said that with a view to make compliance easy, it is proposed to make dividend payment to REIT exempt from the Tax Deducted at Source.
Real Estate Investment Trust (REIT) is a legal entity that owns and operates finances generating commercial property assets like office space and malls. REITs pool in capital from numerous small investors. Markets regulator SEBI had issued guidelines for REITs and InvITs back in 2014. It then revised them in 2016 and again in 2017. Embassy Office Parks REIT became the first REIT to list in India. ....

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