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BENAMI LAW INDIA
Paid tax on black money? 7 reasons you can still lose it all- 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...
- Income Tax Department website revamp: Site offers links for new ITR forms, e-pay tax, e-verification, e-PAN, payment status and many other tasksThe Income Tax Department has launched a revamped e-filing portal to support the transition to the new Income Tax Act, 2025. Taxpayers can ...
- 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 ...
- 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...
- 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 ...
- FM urged to equalise tax benefits for govt and non-govt employees in Budget 2020The Income-tax Act, 1961 differentiates between a government employee and non-government employee. However, this should not be the case. Th...
- 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...
- 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...
- How new law changes the definition of benami assetsA person booking a property in the name of her father can find herself on the wrong side of the law if tax officials are convinced that fat...
- Benami properties next on Modi's hit list? PM may have a plan next yearGiven its huge disruptive influence on real estate market as well as politics, a crackdown on benami property has the possibility of hoggin...
- Benami properties worth over Rs 800 crore attached: CentreProvisional attachment of properties under the Act has been done in more than 230 cases," Santosh Kumar Gangwar said.
- Expert Take: No GST credit if vendors aren’t paid in 90 daysThe proposed GST Legislation appears to deny tax credit in relation to input services for which payments are made after three months of the...
- After demonetisation, benami properties to be next target says PM ModiThe way ahead is for India to adopt the Torrens system wherein land ownership is directly registered by the state.
- Realty players hail Bill to curb benami transactionsYesterday, the Cabinet approved the new Benami Transaction (Prohibition) Bill which aims at curbing the generation of domestic black money.
- Benami definition to go stricter, may include only wife, unmarried daughterIn an effort to tackle black money issues, the government could sharply prune the list of relatives in whose names property can be acquired.
- 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.
- Benami trail may be difficult to trace in Satyam scamThere is little chance that Satyam will get back the cash suspected to have been siphoned off from the co. No bailout for Satyam | L&T stak...
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