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BENAMI TRANSACTIONS ACT
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...- 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...
- 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...
- Insurance agents got extra Rs 25,000 crore via benami companies: I-T DeptNotices under Benami Transactions (Prohibition) Amendment Act, 2016, have been sent to insurance agents. They have\ been told to share info...
- 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 ...
- 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...
- Centre notifies special courts for benami transaction casesThe central government has notified Sessions courts in 34 states and UTs which will act as special courts for offences under the benami tra...
- Centre notifies special courts for benami transaction casesIn case of National Capital Territory of Delhi, Courts of Additional Sessions Judge 02 in each district have been designated as special cou...
- Notices to 10,000 depositors post demonetisationNotices have been sent to about 10,000 depositors under benami law, more people to get similar missives.
- 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.
- 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 ...
- 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...
- No intention to demonetise Rs 100/50 notes: GovernmentIn a series of tweets, the government described as "myth" a rumour that the Prime Minister will again address the nation to declare Rs 50/1...
- Rigorous imprisonment of up to 7 years for benami transactionsThe Benami Transactions (Prohibition) Amendment Bill, 2015 was introduced in Lok Sabha on May 13, last year by Finance Minister Arun Jaitle...
- Cabinet clears bill to check benami transactions aimed at curbing domestic black moneyApart from confiscation, the Bill provides for prosecution and aims to act as a major avenue for blocking generation and holding of black m...
- Incremental move to bring a new law to unearth benami propertyMoreover, a single law is unlikely to check either speculative real estate transactions or real estate price bubbles.
- New Benami law to allow property in spouse, siblings' nameThe Cabinet approved a proposal to bring Benami Transactions (Prohibition) Bill 2011, replacing Benami Transactions (Prohibition) Act, 1988...
- 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.
- Govt to strengthen benami transactions prohibition actAiming to clamp down on benami transactions, the government is set to give more teeth to the Benami Transactions (Prohibition) Act, 1988.
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