Tag Archives: Benami law
Beware! Benami Property Transactions Can Land You In Jail For 7 Years
Sticking to its poll promise of curbing black money, the NDA government has ensured smooth passage for the Benami Transactions (Prohibition) Amendment Bill, 2015 in both the houses of parliament and has been notified. Benami, literally means ‘nameless’ or ‘without a name’. Here are 3 points to remember how the law will qualify a Benami
Benami Transactions Law– Attempt To Check Black Money In Real Estate
Last month, the Lok Sabha passed a comprehensive Benami Transactions (Prohibition) Amendment Bill 2015, with the intent of bringing unaccounted money into the system, as well as seizing benami property and prosecuting those indulging in such activities. The three-fold objective – Amending the definition of benami transactions, establishing adjudicating authorities and setting up an Appellate
