Benami Transactions (Prohibition) Bill 2011
Benami transactions are one of the ways in which black money is circulated and invested. The Benami Transactions (Prohibition) Bill 2011, introduced by Finance Minister Pranab Mukherjee, will replace the existing Benami Transactions (Prohibition) Act, 1988. The Bill seeks to prohibit the holding of property in benami and restrict the right to recover or transfer [...] Continue Reading »
Under the new Benami law, properties purchased in the name of spouse or siblings or any lineal ascendant or descendant could be allowed under benami deals and would not be subject to penal provisions. Home minister P Chidambaram, however, is learnt to have opposed the same, while favoring the inclusion of spouse. He said at [...] Continue Reading »
The new law, Benami Transactions (Prohibition) Bill , 2011, will replace the earlier legislation which was enacted in 1988. In a bid to deal with the menace of black money, the government is likely to consider the possibility of enacting a new law to track benami transactions at the meeting of the union Cabinet. The [...] Continue Reading »
