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 Transactions (Prohibition) Act
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
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
One year since demonetisation, real estate outlook positive: Colliers International
It has been a year since demonetisation was announced on November 8, 2016 and was touted as a surgical strike on black money. Although, in the aftermath of demonetisation, the GDP growth has come … READ FULL STORY
Current News
Lalu family benami assets case: I-T issues attachment order
Officials privy to the benami assets probe against RJD chief Lalu Prasad Yadav and his family, have revealed that the Income Tax (I-T) Department has issued an attachment order, against a firm allegedly involved … READ FULL STORY
Current News
Maharashtra to amend laws, to expedite sale of property in fraud cases
The Maharashtra government is planning to amend some laws, for the speedy sale of properties attached in the cases of investment frauds, so that the duped depositors/ investors can be given their money back … READ FULL STORY
Current News
I-T Department attaches Rs 300-crore benami assets of Bhujbal, family
In fresh trouble for the jailed former deputy chief minister of Maharashtra, the Income Tax (I-T) Department has issued notices for the provisional attachment of assets of Bhujbal, his son Pankaj and nephew Sameer … READ FULL STORY
Current News
I-T slaps Benami assets law against Lalu Prasad Yadav and family
The Income Tax (I-T) Department has charged six family members of Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav, under the new and stringent anti-benami assets Act, and also served notices of attachment of … READ FULL STORY
Property Trends
The RERA effect: Indian real estate waits to inhale
Did demonetisation erase black money in real estate? Just a couple of months ago, demonetisation appeared to have taken all the remaining steam out of our Indian real estate’s sails. Sales in the significantly … READ FULL STORY
Current News
Benami Property Act to be effective from November 1, 2016
A new law to prohibit benami transactions, which provides for up to seven years’ imprisonment and fine, for those indulging in such activities, will come into effect from November 1. With a view to … READ FULL STORY
