A group of 100 individuals came forward to form a group housing society in 2015.
We recently came across few documents of society which point towards misappropriation of funds.
-Mr X selling land to Mr Y at 50 lakhs. An agreement to sell is signed between X and Y. No registry done.
-Our society buying same land from Mr Y at 55 Lakhs.A new agreement to sell is signed between Y and our Society.
-Our society pays stamps duty on 50 lakhs. 50 lakhs paid to Mr X (Original seller) and 5 lakhs paid to Mr Y (intermediate)
We are under the impression that 5 lakh of money has been misappropriated and Mr Y maybe a dubious person who is substitute of a management committee. Pls share expert thoughts.
Should we file a complaint with Police since we can't investigate it further.
Isn't above dealing a way of evading tax. Our society should have paid tax on 55 lakhs. Pls clarify.
