Tax Department Plans ₹5,000 Crore Land Purchase
The Central Board of Direct Taxes is planning to buy land worth about ₹5,000 crore for offices and staff housing. It is targeting prime plots in Delhi, Mumbai and Bengaluru, including a ₹2,000 crore MTNL site in Delhi. The aim is to cut rising rental costs as its workforce grows.
Context
Context: CBDT runs India's direct tax system, including income tax, under the Finance Ministry. Rising office rents in big cities have pushed government departments to consider owning property instead of renting.
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