Hyderabad: A person committed suicide on Saturday morning reportedly after an income-tax notice made him realise that he had sold his house to his relatives for a fraction of the true cost.
Police said the I-T notice given to one D. Jagannath had assessed the value of the property that he had sold to his relatives at Rs 29 lakh, and taxed him Rs 17 lakh, according to Malkajgiri sub-inspector K. Sanjeev Reddy
Jagannath had reportedly sold the house in Musheerabad to his relative C. Shekar and his sons Raghu, Srinu, Mahesh and Balaraju for Rs 6 lakh. The sub-inspector said that when Jagannath called C. Shekar and his sons, they did not take his calls. “Because of this, he went into depression and committed suicide.”
The Malkajgiri police registered a case under IPC Section 306 (abetment to suicide) on the relatives for cheating and has started investigations.
