What is a benami property?
A ‘benami’ property is one that is purchased in the name of a person, who is not the real beneficiary. The person, in whose name the property is purchased, is known as a ‘benamidar’. … READ FULL STORY
Legal
Tag: benami
Current News
Benami law: I-T Department attaches Delhi bungalow, FDI funds of MP CM’s nephew
The Income Tax (I-T) Department, on August 11, 2019, said it has attached benami assets worth Rs 300 crores, including a bungalow in a posh Delhi locality and USD 40 million funds brought from … READ FULL STORY
Current News
Benami property charges against Shah Rukh Khan over Alibaug farmhouse dropped
The Adjudicating Authority (AA) has slammed the Income-Tax Department, for issuing an attachment order in February 2018, against actor Shah Rukh Khan and a company in which he, his wife Gauri Khan and in-laws … READ FULL STORY
Legal
Taxes and penalties on benami properties
In order to eliminate the twin menace of corruption and black money, the ‘Benami Transactions (Prohibition) Act’ was passed in 1988. However, the same was never implemented as the requisite rules and regulations were … READ FULL STORY
Current News
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 … READ FULL STORY
Current News
Court declares Rs 15 crores deposited by untraceable person post demonetisation, as benami
Cash deposits of Rs 15.93 crores, made in a Delhi bank post demonetisation, have been held as ‘benami’ property by a special court, even as the depositor and the beneficial owner of the stash … READ FULL STORY
