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Real estate shouldn't be treated as cash cow; govt needs to overhaul tax structure to curb black money
There are several reasons why black money exists within real estate, and some of these are natural consequences of legacy structural issues. In terms of tax base, real estate has been consistently treated as a direct tax cash cow - with current tax overheads being in the range of 22 to 25 percent. Eradication of 'black money' has a different impact on real estate as opposed to eradication of cash, which has an entirely different set of impacts.
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