• I Paid A Bribe
  • 6 years ago

Bribe paid for getting signature form IT official for long term capital gain bond

Reported on November 26, 2018 from Bangalore , Karnataka  ι Report #193378

My mother had invested 2 lakhs under capital gain bonds (in Canara bank). This amount arised from sale of property in 2014. At the time of maturity (3 years) we went to get signature of concerned IT official in Koramangala office. He postponed signature many times mentioning there is still time to sing & later when pressurised (after 3-4 months of dilly dallying) he asked for Rs 10000 bribe. After few discussion it was reduced to Rs 8000.
Since it was a horrendous & long delay we had to some how get the signature & we paid bribe due to get the maturity proceeds which was stuck for 4 months after maturity & were tired of following up.
We earned close to Rs18000 as interest from maturity (3 year tenure) but the bribe eat most part of it.
When I often look back & think, feels like we could have utilised the 2 lakhs amount rather than investing for 3 years & losing all the gains arised from that (wanted to be a sincere citizen to show the amount & pay any tax arising to Govt but ended up paying bribe).

Name :- R Nithyanand, Date :- 16/17th Apr 2018, Time :- Afternoon, Location :- Koramangala,

What is your reaction after reading this report?