Articles about Benami Act
26 Jun 2018
I-T department attached benami-properties worth Rs. 4,300cr since new laws
Since enacting stringent laws on benami properties in November'16, the Income Tax (I-T) department has attached more than 1,500 such assets collectively worth Rs. 4,300cr.
06 May 2018
Journalist Upendra Rai arrested for extorting Rs. 15cr from builder
CBI has registered a fresh case against arrested journalist Upendra Rai and his associate Rahul Sharma for allegedly extorting Rs. 15cr from a Mumbai-based builder by portraying himself as an income tax "power broker", officials said.
06 Apr 2018
I-T working on more, better rewards for tax evasion informers
The I-T Department is working on new rules to encourage people to provide information on tax evasion and benami transactions.
23 Sep 2017
You could get Rs. 1cr for revealing benami properties
Starting October-November, you could get a reward of up to Rs. 1cr for informing authorities about benami properties.
30 Aug 2017
Will the Benami properties case be Lalu Prasad's undoing?
Yesterday, Lalu Prasad Yadav's family members were grilled by the Income Tax department in the benami properties and disproportionate assets case.
25 May 2017
I-T Dept unearths 400 Benami deals, attaches properties
The Income Tax Department stated that it had unearthed 400 benami deals and has attached Rs. 600 crore worth of properties in regards to the deals.
08 May 2017
Benami properties to be turned into offices, residences
The government has stated that soon, benami properties in the country may be converted in to office spaces or residences. It is said to be a part of PM Modi's crackdown on corruption and black-money.
03 Mar 2017
7 years of rigorous imprisonment for Benami Act violators
The Income Tax department stated that individuals found violating the Benami Transactions Act would invite 7 years of rigorous imprisonment.
08 Feb 2017
No cash withdrawal limits from March 13: RBI
The RBI announced that all cash withdrawal limits on bank accounts would be lifted from March 13. Cash withdrawal limits for savings accounts has been raised to Rs.50,000 until 20 February.
08 Feb 2017
25% ATMs running dry in India
Bank officials said that due to large scale withdrawals at the start of the month, over 25% of the ATMs in the country are without cash.
31 Jan 2017
7 years jail for buying property under family members' name
According to the Benami Transactions Amendment Act 2016, individuals are prohibited from buying property in the name of family members, unless they are joint-holders of the property. Only property bought for spouse or children are exempt from this clause.
30 Jan 2017
Limits on ATM cash withdrawals to cease 1st February onwards
According to a statement issued by the RBI, cash withdrawal limits placed on withdrawals from Current accounts/Cash credit accounts/Overdraft accounts stand withdrawn with immediate effect.
26 Jan 2017
Old note exchange possible again?
Government sources stated that citizens will be given another opportunity to exchange the demonetized 500 and 1000 notes. However, this time the exchange will be only for limited amounts of cash.
20 Jan 2017
IT Dept expands list of transactions under scanner
The IT Department has expanded the list of financial transactions under scrutiny, now including deposits up to Rs.2.5 lakh made during the demonetization period.
27 Dec 2016
Benami Act to impact real estate prices
In light of PM Modi's vow to go after "Benami Properties", experts said if the new law was implemented effectively, it would bring transparency to real estate sector.