Benami Property Transactions Act
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Ex-AIADMK Leader VK Sasikala's Assets Worth 1,600 Crores Attached
The Income Tax department on Tuesday attached properties worth Rs 1,600 crores belonging to former AIADMK leader VK Sasikala under the provisions of the Benami Transactions (Prohibition) Act, IT sources said.
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Tax Officials Attach Rs 400 Crore Plot Belonging To Mayawati's Brother
The Income-Tax Department has attached a "benami" plot worth Rs 400 crore in Noida belonging to BSP chief Mayawati's brother and his wife, an official order said.
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Benami Attachments Worth Crores May Fall Flat As No Authority For 1.5 Years
Over 780 benami asset attachments worth crores of rupees run the risk of being invalidated in the near future as the government has failed to create a designated adjudicating authority for over a year-and-a-half since the stringent law was enforced to deal with black money and corruption.
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Benami Property: Taxman Attaches Properties Worth Rs 3,500 Crore
The Prohibition of Benami Property Transactions Act provides for provisional attachment and subsequent confiscation of Benami properties, whether movable or immovable.
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Allegedly Benami Properties Owned By Lalu Yadav's Daughter Seized
The Income Tax Department has provisionally attached a plot of land and a house in connection with its probe in the Rs 1,000-crore benami land deals and tax evasion case allegedly involving family members of Bihar politician Lalu Yadav.
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Income Tax Department Crackdown Yeilds 400 Benami Transactions
Benami property includes movable or immovable assets and property which is in name of someone other than the beneficial owner.
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Notices Issued In Cases Of Rs 200-Crore Benami Property
Though the Benami Transaction (Prohibition) Act, 1988 has been on the statue book for more than 28 years, the same could not be made operational because of certain inherent defects.
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Benami Act Violators To Face Double Whammy Of Legal Action
In advertisements issued in leading national dailies today, the Income Tax department stated: "Do not enter into benami transactions" as the Benami Property Transactions Act, 1988, is "now in action" from November 1, 2016.
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Income Tax Department Issues 87 Notices Under Benami Act
The I-T department had earlier warned people against depositing their unaccounted old currency in someone else's bank account saying such an act would attract criminal charges under the Benami Property Transactions Act, 1988.
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PM Modi Targets Real Estate Assets In Drive Against Corruption
Prime Minister Narendra Modi has quietly plugged a tax loophole used by the wealthy to buy real estate in someone else's name as part of his campaign against corruption, a senior tax official said on Monday.
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Government To Bolster Institutions For Effective Benami Law: Report
A top Finance Ministry official said the government will do everything to strengthen the institutions required for effective operationalisation of the law.
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Benami Property Act To Be Effective From November 1
The new law to prohibit benami transactions, which also provides for up to 7 years imprisonment and fine for those indulging in such activities, will come into effect from November 1.
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Ex-AIADMK Leader VK Sasikala's Assets Worth 1,600 Crores Attached
The Income Tax department on Tuesday attached properties worth Rs 1,600 crores belonging to former AIADMK leader VK Sasikala under the provisions of the Benami Transactions (Prohibition) Act, IT sources said.
-
Tax Officials Attach Rs 400 Crore Plot Belonging To Mayawati's Brother
The Income-Tax Department has attached a "benami" plot worth Rs 400 crore in Noida belonging to BSP chief Mayawati's brother and his wife, an official order said.
-
Benami Attachments Worth Crores May Fall Flat As No Authority For 1.5 Years
Over 780 benami asset attachments worth crores of rupees run the risk of being invalidated in the near future as the government has failed to create a designated adjudicating authority for over a year-and-a-half since the stringent law was enforced to deal with black money and corruption.
-
Benami Property: Taxman Attaches Properties Worth Rs 3,500 Crore
The Prohibition of Benami Property Transactions Act provides for provisional attachment and subsequent confiscation of Benami properties, whether movable or immovable.
-
Allegedly Benami Properties Owned By Lalu Yadav's Daughter Seized
The Income Tax Department has provisionally attached a plot of land and a house in connection with its probe in the Rs 1,000-crore benami land deals and tax evasion case allegedly involving family members of Bihar politician Lalu Yadav.
-
Income Tax Department Crackdown Yeilds 400 Benami Transactions
Benami property includes movable or immovable assets and property which is in name of someone other than the beneficial owner.
-
Notices Issued In Cases Of Rs 200-Crore Benami Property
Though the Benami Transaction (Prohibition) Act, 1988 has been on the statue book for more than 28 years, the same could not be made operational because of certain inherent defects.
-
Benami Act Violators To Face Double Whammy Of Legal Action
In advertisements issued in leading national dailies today, the Income Tax department stated: "Do not enter into benami transactions" as the Benami Property Transactions Act, 1988, is "now in action" from November 1, 2016.
-
Income Tax Department Issues 87 Notices Under Benami Act
The I-T department had earlier warned people against depositing their unaccounted old currency in someone else's bank account saying such an act would attract criminal charges under the Benami Property Transactions Act, 1988.
-
PM Modi Targets Real Estate Assets In Drive Against Corruption
Prime Minister Narendra Modi has quietly plugged a tax loophole used by the wealthy to buy real estate in someone else's name as part of his campaign against corruption, a senior tax official said on Monday.
-
Government To Bolster Institutions For Effective Benami Law: Report
A top Finance Ministry official said the government will do everything to strengthen the institutions required for effective operationalisation of the law.
-
Benami Property Act To Be Effective From November 1
The new law to prohibit benami transactions, which also provides for up to 7 years imprisonment and fine for those indulging in such activities, will come into effect from November 1.
