Section 41 of the Transfer of Property Act elaborates the concept of ostensible owner with a view to protect homebuyers in India. What does Section 41 of Transfer of Property say? According to this … READ FULL STORY
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
The Delhi High Court, on October 15, 2019, sought the response of the Unique Identification Authority of India (UIDAI), on a plea seeking linking of movable and immovable property documents of citizens with their … READ FULL STORY
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
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
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
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
