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BENAMI ACCOUNTS
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...- ED raids in Maharashtra, Gujarat in Salim Dola drugs caseThe Enforcement Directorate conducted raids across Maharashtra and Gujarat. The probe targets Mohammad Salim Dola, an alleged drug traffick...
- Money laundering case: Court sends 'godman' Ashok Kharat in judicial custodySelf-styled godman Ashok Kharat has been sent to 14-day judicial custody. He faces money laundering charges involving over Rs 47 crore. The...
- 'Invisible weapons attacking social harmony': Akhilesh Yadav targets BJP, demands audit of funds and assetsSamajwadi Party Chief Akhilesh Yadav has directly attacked the Bharatiya Janata Party. He alleges invisible weapons are being used to harm ...
- Rs 70 crore money laundering case: ED gets 'godman' Ashok Kharat's custody till May 26Self-proclaimed spiritual leader Ashok Kharat has been remanded to Enforcement Directorate custody until May 26 in connection with an alleg...
- 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...
- India must leverage its digital verification architecture to evolve into a trust-based economyIndia faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this ...
- Taxman may get more power to demolish benami realty dealsTo combat benami property deals, a CBDT panel suggests stricter measures, including access to Aadhaar data and property registries. The rec...
- Rs 900 crore Benami properties attached in Rajasthan in 16 monthsSo far, 176 benami properties and 25 bank accounts were attached till March after the amended Benami Transaction (prohibition) Amendment Ac...
- Income Tax Dept attaches 900 benami properties worth over Rs 3,500 crore: Finance Ministry"Income Tax Department has attached properties worth more than Rs 3,500 crore, including immovable properties of more than Rs 2,900 crore, ...
- What is disgorgement?The board issued a disgorgement order against the company on charges of fraudulent trading in its erstwhile unit, Reliance Petroleum.
- Benami Act violators to face double whammy of legal actionBenami property "may be attached and confiscated by the government" and these actions are in "addition to actions under other laws such as ...
- Benami assets: I-T registers 230 cases, attaches assets worth Rs 55 croreViolations of the Act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
- I-T begins action under Benami Act; issues 87 notices; attaches 42 assets worth croresThe Benami Act provides that anyone who abets or induces the Benami transaction, shall be punishable with imprisonment for a period ranging...
- NCDEX issues guidelines to curb ‘Benami’ account tradingThe exchange said that this transparent framework will help members to establish internal processes to ensure strict monitoring of client p...
- Can you declare benami deposits under PMGKY and get immunity? CBDT may clarify this soonUnder the PMGKY, only unaccounted cash and deposits can be disclosed before tax authorities. It is not open for other unaccounted assets.
- Bank account violators will face 7 years jail: Income Tax departmentThe sources said the taxman has initiated a country-wide operation to identify suspect bank accounts where huge cash deposits have been mad...
- Demonetisation: Banks told to keep a hawk's eye on new accounts, depositsSome large private sector banks have decided to use this as an opportunity to do fresh KYC of their customers by seeking fresh identity pro...
- Beware of Benami propertyThe govt can soon acquire & auction benami properties & property deeds must be verified by CAs.
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