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BENAMI LAW
Paid tax on black money? 7 reasons you can still lose it all- Paying tax won't legitimise cash stashesThe taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department t...
- Informal ‘benami’ investments may now face confiscation; Supreme Court ruling puts family property deals under scannerWhere family arrangements are involved, they must comply with legal conditions, including joint ownership where required. Informal arrangem...
- SC order turns up tax heat on old benami transactionsThe Supreme Court has ruled that tax authorities can retroactively apply the benami law to confiscate assets from transactions predating 20...
- PM Modi empowered ED to cleanse cancer of financial crimes; not to target anyone: MoS Pankaj ChaudharyPankaj Chaudhary, the Minister of State for Finance, called the central agency the "nation's shield against financial crimes", stating that...
- SC recalls 2022 verdict declaring benami law provisions unconstitutionalThe Supreme Court overturned its 2022 decision declaring two provisions of the benami property law unconstitutional. The court agreed with ...
- Insurers' intermediaries get I-T notices under benami law over alleged fund routing violationsOver the past one week, some companies acting as agents and marketing intermediaries of insurance companies have received notices under the...
- New ruling on Benami law may unearth old dealsEven if a benami transaction had happened long before November 2016, when the new, amended statute came into force, the parties would face ...
- After Benami ruling, all eyes on 'retrospectivity' of Black Money LawWhile the I-T Act can be used to claim tax on 10-year old undisclosed income, the Black Money (BM) Act empowers the tax department to go af...
- Supreme Court strikes down provision of 1988 Benami lawThe verdict came on the appeal of the Centre challenging the Calcutta High Court judgement in which it was held that the amendment made in ...
- I-T takes over Mehul Choksi's assets in 1st Benami law confiscationThe assets linked to Choksi were provisionally attached last year under the BTPA after a probe by the Mumbai IT investigation wing ascertai...
- SC ruling on retro effect of Benami Law keenly awaitedA plethora of transactions like cash transfers, property deals, and share issuances have come under the lens with the invocation of the Ben...
- How Benami law changes impact both old and new property buyersBenami Property can be in any form, i.e., immoveable, movable. Intangible, tangible, corporeal, incorporeal, property in converted form and...
- Notices to 10,000 depositors post demonetisationNotices have been sent to about 10,000 depositors under benami law, more people to get similar missives.
- Avail PMGKY or face action: I-T warns defaultersThe tax and penalty against those who hide their black money and fail to avail the PMGKY could go as high as 137 per cent of the cash depos...
- Government to bolster institutions for effective Benami law"Whatever is required to strengthen the institutions to make the Benami law more effective, we will do that," the official said here.
- New benami law put on fast trackThe legislation provides for setting up of an authority as “administrator”, which shall have the power to manage the benami property confis...
- Is the Benami Bill targeted at corruption and black money futile?Apart from the provision declaring benami transactions illegal, the law also provided for the confiscation of property by the government.
- Govt apologises for long delay in Benami LawThe Govt apologised for its share of lapses in not notifying a Benami transactions law passed by Parliament way back in 1988, but said othe...
- Government may approve benami property act changes today to fight against black moneyThe union cabinet is expected to approve amendments to benami property law to demonstrate its seriousness in fighting the menace of black m...
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