Where family arrangements are involved, they must comply with legal conditions, including joint ownership where required. Informal arrangem...

India faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this ...

To combat benami property deals, a CBDT panel suggests stricter measures, including access to Aadhaar data and property registries. The rec...

While 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...

Notices have been sent to about 10,000 depositors under benami law, more people to get similar missives.

So far, 176 benami properties and 25 bank accounts were attached till March after the amended Benami Transaction (prohibition) Amendment Ac...

"Income Tax Department has attached properties worth more than Rs 3,500 crore, including immovable properties of more than Rs 2,900 crore, ...

Given its huge disruptive influence on real estate market as well as politics, a crackdown on benami property has the possibility of hoggin...

Tax experts, however, said even now a distinction between unexplained tax credits, where higher tax is applicable, and a benami transaction...

The deposits were declared 'benami in the ruling in one of the first adjudication cases of the new anti-black money law.

Show cause notices for provisional attachment of benami properties have been issued in 140 cases involving properties of the value of about...

Benami property "may be attached and confiscated by the government" and these actions are in "addition to actions under other laws such as ...

Violations of the Act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.

The Benami Act provides that anyone who abets or induces the Benami transaction, shall be punishable with imprisonment for a period ranging...

Under the PMGKY, only unaccounted cash and deposits can be disclosed before tax authorities. It is not open for other unaccounted assets.

The fortnight since demonetisation saw sudden spurt in deposits; total amount in accounts may swell beyond what was collected from income d...

The sources said the taxman has initiated a country-wide operation to identify suspect bank accounts where huge cash deposits have been mad...