Safe keeping of original title deeds of property. - Income Tax - 1431/CBDT

INSTRUCTION NO. 1431/CBDT Dated: November 21, 1981 A number of non-officials had represented to the Estimates Committee that original documents filed by the assessees are often misplaced in the Income-tax Department. The loss of documents which could be out of mischief or negligence puts the assessees to great inconvenience. The problem has been examined by the Board. Whereas the question of accepting photostat copies of certain documents is being separately examined and necessary instructions on the subject will follow in due course, it has been decided that title deeds of property, which are generally taken by the Department as security against tax dues must be obtained from the assessee in original because photostat copies in such cases may not serve any purpose as the assessees can always create an equitable mortgage with the original title deed without informing the Department. The Board have therefore laid down the following procedure:- i) Wherever title deeds of property are taken as a security measure against tax dues or for any other purpose the same must be kept by the officer concerned in his personal custody under lock and key. ii) the assessee must be given a simple receipt duly signed by the officer concerned and bearing his official signature; iii)at the time of returning the original documents to the assessee his acknowledgement must be obtained and kept on the file with suitable entry on the order sheet and the receipt referred to at (ii) above should be taken back. 2. You are requested to kindly circulate these instructions to all the officers working under your charge for their information and necessary action.