ED targeting Indians who bought homes in Dubai, black money and crypto payments under scanner

If you are someone who has bought a home in Dubai, then brace for scrutiny from the Enforcement Directorate (ED). The ED has sent out multiple summons to buyers who have bought homes in Dubai asking them to explain why there is no record of bank transfers, a report by Economic Times said. The report further added that most of the summons were issud in the north.

According to strict rules and regulations, money transactions over buying apartments or stocks and also booking Fixed Deposits with an offshore bank, need to be done via proper banking channels. The records need to be clear. ED is now acting on cases where the banks were not used for these transactions.