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 property
Current News
Tax payers’ charter will empower citizens to get time-bound services: CBDT chairman
The chairman of the Central Board of Direct Taxes (CBDT), Pramod Chandra Mody, has said the tax payers’ charter announced in Budget 2020, will be notified very soon and once operationalised, India will be … READ FULL STORY
Property Trends
How can the new government expedite the real estate sector’s recovery?
With the General Elections of 2019 giving a clear mandate for Narendra Modi to return as prime minister for a second term, the real estate sector is optimistic, as this would mean a continuation … 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
Property Trends
Linking of property transactions with Aadhaar: Impact analysis
After making it compulsory to link Aadhaar numbers with a large number of services and financial instruments, there have been sporadic reports that the government may also link property transactions with the unique ID. … READ FULL STORY
Property Trends
Will Aadhaar linkage reduce benami property transactions?
With the government of India hinting at its intention to link Aadhaar numbers with property transactions, several analysts have hailed the proposed move as a game-changer, while others have questioned its intent, its chances … READ FULL STORY
Property Trends
Benami property: A focus area of Budget 2017?
The central government has repeatedly stated its intent to deal with benami transactions. It is, hence, expected that several concrete steps and financial curbs on benami transactions may be announced in the Union Budget … READ FULL STORY
Property Trends
2016: A year of policy changes
For the real estate sector, 2016 will be remembered as the year of dramatic policy changes. These changes have the potential to usher in a more organised, cleaner and more transparent real estate market … READ FULL STORY
Property Trends
Benami Transactions Bill: Will it reduce black money transactions in real estate?
In 2016, the comprehensive Benami Transactions (Prohibition) Amendment Act was passed, with the intent of bringing unaccounted money into the system, as well as seizing benami property and prosecuting those indulging in such activities. … READ FULL STORY
Mira Road-Bhayander: Physical infrastructure and liveability
Mira Road-Bhayander is located in Thane district and is looked after by the Mira Bhayander Municipal Corporation (MBMC). The region offers good connectivity for daily commuters and residential property rates remain affordable, compared to … READ FULL STORY
