The boom in the real estate sector seems to have prompted the taxman to launch special combing operations in the current financial year to close in on evaders. Under the scanner, especially, will be those buying property way beyond their annual income.

The income tax department will also watch closely commodity brokers and those escaping the tax net despite high levels of agricultural income.

The latest scrutiny norms, discussed with chief commissioners of income tax last week, have laid special emphasis on property deals. While all deals worth more than five times an assessee's gross income face scrutiny, those showing losses from a transaction or trying to get away without paying capital gains tax will also be under the lens.

The gross income will include the gross total income, which can come by way of salary and perks, agricultural income and income that is claimed to be exempt from tax. So, anyone purchasing an apartment worth Rs 1 crore could face the tax department's scrutiny if his gross income during the year is less than Rs 20 lakh.

Sources said in a booming real estate market, a few individuals could be selling official or residential spaces at a loss or avoiding paying capital gains tax since property value had appreciated many times over since they were acquired. As a result, anyone who sells a house worth more than Rs 30 lakh but has no capital gains liability could see his tax returns being scrutinised.

IN TAXMAN'S CROSSHAIRS

• Returns showing loss in transaction, capital gains of over Rs 25 lakh through sale of shares within year of purchase
  
• Buyers who are also active players in stock markets or borrowed heavily to fund house purchase under watch
  
• Hotels, tour operators with turnover more than Rs 5 cr & profit less than Rs 25 lakh