I-T dept alleges stamp duty evasion by EC Ashok Lavasa's family
The Lavasa family have denied allegations of stamp duty evasion. Shakuntala Lavasa said that Rs 10,42,220 was paid as stamp duty as per law
- Dec 27, 2019,
- Updated Dec 27, 2019 10:06 AM IST
The Income Tax department has flagged discrepancies between the income tax returns of Election Commissioner Ashok Lavasa's wife Novel Lavasa and the registered transfer deed of a Gurugram property for the financial year 2017-18. The IT department has approached the Haryana government seeking further enquiry into alleged stamp duty evasion during the transfer of the apartment in Gurugram from Novel Lavasa to Ashok Lavasa's sister, Shakuntala Lavasa.
According to a report by The Indian Express, Haryana's Financial Commissioner of Revenue and Disaster Management, Dhanpat Singh has confirmed the IT department's letter.
The Lavasa family have denied allegations of stamp duty evasion. Shakuntala Lavasa said that Rs 10,42,220 was paid as stamp duty as per law, as mentioned by the daily. Ashok Lavasa also stated that there is no evasion of stamp duty and that it has been paid by as per applicable rates. "It is for the department to ascertain the facts and not indulge in selective leaks," said the Election Commissioner. Novel Lavasa has said that these "roving inquiries" were meant to malign the family's reputation.
The report states that Novel Lavasa's IT returns show that she had sold the first floor of the four-storeyed building in Gurugram to Shakuntala Lavasa for Rs 1.73 crore. Shakuntala Lavasa's returns also show the property as being "self-occupied".
However, the registered transfer deeds show that Novel Lavasa gifted the property to her husband Ashok Lavasa on December 27, 2018 who in turn gifted the same property to his sister Shakuntala Lavasa on January 21, 2019. Gift of immovable property between spouses and blood relatives do not attract stamp duty as per a Haryana government order. Any property sale transaction in urban areas of Haryana attracts 5 per cent payment of stamp duty.
The IT report states that this appears to be a case of stamp duty evasion by Novel Lavasa and Shakuntala Lavasa. "The 'sale' transaction between Mrs Novel Lavasa and Dr Shakuntala Lavasa has been camouflaged as 'gift' of immovable property in a circuitous manner - first by Mrs Novel Lavasa to Sh Ashok Lavasa (spouse of Mrs Novel Lavasa) and then by Sh Ashok Lavasa to Dr Shakuntala Lavasa (sister of Ashok lavasa)," mentioned the IT report.
Novel Lavasa and Shakuntala Lavasa have received income tax notices. Abir Lavasa, Ashok Lavasa's son and the company where he serves as a director, Nourish Organic, have also received income tax notices and are undergoing an investigation by the Enforcement Directorate for alleged violation of foreign exchange laws.
Also read: Budget 2020: Modi govt may cut income tax rate, introduce new slabs to boost consumption
Also read: Income tax on gifts: Know when your gift is tax-free
The Income Tax department has flagged discrepancies between the income tax returns of Election Commissioner Ashok Lavasa's wife Novel Lavasa and the registered transfer deed of a Gurugram property for the financial year 2017-18. The IT department has approached the Haryana government seeking further enquiry into alleged stamp duty evasion during the transfer of the apartment in Gurugram from Novel Lavasa to Ashok Lavasa's sister, Shakuntala Lavasa.
According to a report by The Indian Express, Haryana's Financial Commissioner of Revenue and Disaster Management, Dhanpat Singh has confirmed the IT department's letter.
The Lavasa family have denied allegations of stamp duty evasion. Shakuntala Lavasa said that Rs 10,42,220 was paid as stamp duty as per law, as mentioned by the daily. Ashok Lavasa also stated that there is no evasion of stamp duty and that it has been paid by as per applicable rates. "It is for the department to ascertain the facts and not indulge in selective leaks," said the Election Commissioner. Novel Lavasa has said that these "roving inquiries" were meant to malign the family's reputation.
The report states that Novel Lavasa's IT returns show that she had sold the first floor of the four-storeyed building in Gurugram to Shakuntala Lavasa for Rs 1.73 crore. Shakuntala Lavasa's returns also show the property as being "self-occupied".
However, the registered transfer deeds show that Novel Lavasa gifted the property to her husband Ashok Lavasa on December 27, 2018 who in turn gifted the same property to his sister Shakuntala Lavasa on January 21, 2019. Gift of immovable property between spouses and blood relatives do not attract stamp duty as per a Haryana government order. Any property sale transaction in urban areas of Haryana attracts 5 per cent payment of stamp duty.
The IT report states that this appears to be a case of stamp duty evasion by Novel Lavasa and Shakuntala Lavasa. "The 'sale' transaction between Mrs Novel Lavasa and Dr Shakuntala Lavasa has been camouflaged as 'gift' of immovable property in a circuitous manner - first by Mrs Novel Lavasa to Sh Ashok Lavasa (spouse of Mrs Novel Lavasa) and then by Sh Ashok Lavasa to Dr Shakuntala Lavasa (sister of Ashok lavasa)," mentioned the IT report.
Novel Lavasa and Shakuntala Lavasa have received income tax notices. Abir Lavasa, Ashok Lavasa's son and the company where he serves as a director, Nourish Organic, have also received income tax notices and are undergoing an investigation by the Enforcement Directorate for alleged violation of foreign exchange laws.
Also read: Budget 2020: Modi govt may cut income tax rate, introduce new slabs to boost consumption
Also read: Income tax on gifts: Know when your gift is tax-free