Searched for
BENAMI ASSETS LAW
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...
- Not naming beneficial owner does not invalidate I-T attachment order: Anti-benami authorityThe Adjudicating Authority confirmed a land assets attachment order issued by the Income Tax department in 2023. The order involved land pa...
- 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 ...
- Taxman has a 'benami' key to exhume deals assumed long done and dustedIndian tax officials, looking into suspected benami deals, are pressing wealthy individuals about transactions that occurred long before th...
- CBDT files review against SC's benami ruling; terms it continuing criminal offenceThe petition was filed by the Central Board of Direct Taxes (CBDT) that frames policy for the tax department under the department of revenu...
- 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...
- 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...
- Rajasthan High Court rules Benami Amendment Act, 2016, can’t be effective retrospectivelyThe new ruling allows the tax office to confiscate property and put the real owners and benamidar behind bars.
- IT dept attaches Rs 400 cr 'benami' plot in Noida belonging to Mayawati's brother, wifeThe law stipulates that a violator of the Benami Act can face rigorous imprisonment up to seven years besides being liable to pay fine up t...
- I-T dept attaches Lutyens bungalow worth Rs 208-crore in benami case against ex-UP engineerAn order for provisional attachment of the property was issued by the department under the anti-benami assets law.
- Confiscated benami assets worth Rs 6,900-cr: I-T departmentThe tax department started initiating action under this law, implemented by the Modi government, from November 1, 2016.
- Anti-money laundering body gets new member after 5-month delayVinodanand Jha, an Indian Revenue Service (Income Tax) officer of the 1983 batch, has been appointed as the Member of the authority from th...
- Benami assets worth Rs 1833 crore attached; CBDT's strong actionOfficial data, updated till October, shows that assets worth Rs 1,833 crore have been attached by the I-T department, for which it issued o...
- Will new benami law be given retrospective effect: High Court to Income Tax departmentThe process adopted by an individual or company to bring unaccounted money back to their business without paying any tax on the same is ter...
- I-T department attaches Rs 300-crore benami assets of Chagan Bhujbal, familyWhile the total cost of the attached 'benami' assets has been valued at over Rs 223 crore, the department has said the "market value" of th...
- With benami holdings on government’s radar, anxious queries on new rulesThe amendment allows the government to confiscate properties or assets held in another person’s name or fictitious names to evade tax and h...
- A Property in husband's name would be Benami no moreWomen will be able to acquire assets in name of their husbands without running the risk of the property being declared benami.
- Benami property to be seized under new lawA benami transaction is one in which a property is transferred to one person for a consideration paid or provided by another person.
Load More
