Black money: Benami Property Transactions Prohibition Act comes into force

NEW DELHI: The Benami Transactions (Prohibition) Amendment Act, 2016, designed to curb black money and passed by parliament in August, came into effect on Tuesday. An amendment of the 1988 Benami Transactions Act, the new law provides for up to seven years' imprisonment and fine for those indulging in such transactions, whereas the earlier law [...]

By | December 22nd, 2016|Property/Rent|Comments Off on Black money: Benami Property Transactions Prohibition Act comes into force

Crackdown on Benami Property & Mega Rural Package Coming

New Delhi: The massive midnight demonetisation drive that Prime Minister Narendra Modi announced last Thursday will soon be followed up with a heavy crackdown on benami transactions in a series of radical measures the government has lined up to rein in unaccounted money. Top sources in the government told CNN-News18 that the crackdown on benami [...]

By | November 17th, 2016|Property/Rent|Comments Off on Crackdown on Benami Property & Mega Rural Package Coming