Income Tax Dept steps-up actions under Prohibition of Benami Property Act

By Accommodation Times Bureau NEW DELHI Due to intensive efforts were undertaken by the Income Tax Department, the provisional attachment has been made in more than 900 cases of properties under the Prohibition of Benami Property Transactions Act (the ‘Benami Act’), which came into force w.e.f 1st November, 2016. These attachments include

Benami Property: All you need to Know

By Accommodation Times Bureau  DR. RAJKUMAR S. ADUKIA B. Com. (Hons.), FCA, FCS, FCMA, LL.B., M.B.A, DIPR, Dip IFRS (UK), Dip LL&LW, Dip in criminology, Ph.D.   What does Benami mean? Benami is a South Asian word that means "without name" or "no name". So, the term benami property means property without a name. It includes the transactions,