Benami Transactions

Benami Transactions News

Delhi HC issues notice to Centre, AAP govt on plea seeking linking of Aadhaar with property documents to curb black money, benami deals
India

Delhi HC issues notice to Centre, AAP govt on plea seeking linking of Aadhaar with property documents to curb black money, benami deals

The Delhi HC on Tuesday issued a notice to the Centre and AAP government on a petition seeking directions to them to link movable and immovable property documents of citizens with their Aadhaar number to curb corruption, black money generation and Benami transactions

Only 61 individuals declared gross income of over Rs 100 cr in AY2017-18; over 2,000 benami transactions detected: Govt
Business

Only 61 individuals declared gross income of over Rs 100 cr in AY2017-18; over 2,000 benami transactions detected: Govt

The number of individuals disclosing a gross total income of more than Rs 100 crore in a year in his/her return of income filed with the Income Tax Department was 24 in assessment year 2014-15.

Transfer of physical shares not possible from 5 December, only demat form allowed; all you need to know
Business

Transfer of physical shares not possible from 5 December, only demat form allowed; all you need to know

Post-Tuesday, you won’t be able to transfer shares of listed companies if they are held in physical form.

Cabinet approves Adjudicating Authority for speedy disposal of benami transactions cases
Business

Cabinet approves Adjudicating Authority for speedy disposal of benami transactions cases

Benami transaction refers transactions made in a fictitious name, or the owner is not aware of the ownership of the property, or the person paying for the property is not traceable.

Benami hunt: Why Narendra Modi govt's latest move could spring a surprise on detractors of demonetisation
Business

Benami hunt: Why Narendra Modi govt's latest move could spring a surprise on detractors of demonetisation

Action under the benami law for deposit of demonetised notes disabuses the naïve notion that all bank deposits automatically become sanitised and legit

Unlisted cos may soon be asked to keep shares in demat form to curb benami transactions
Business

Unlisted cos may soon be asked to keep shares in demat form to curb benami transactions

The corporate affairs ministry, which is implementing the Companies Act, is working on the contours of the plan whereby unlisted firms have to keep their shares in dematerialised (demat) or electronic form

Amarinder Singh accepts Gurjit Singh's resignation; Punjab minister allegedly obtained sand mining contracts illegally
India

Amarinder Singh accepts Gurjit Singh's resignation; Punjab minister allegedly obtained sand mining contracts illegally

Amarinder Singh accepted the resignation of cabinet minister Rana Gurjit Singh, who had come under fire for his alleged involvement in sand mining auctions.

Sushil Modi claims ED, CBI have 'strong evidence' against Lalu Prasad Yadav, family of benami transactions
Politics

Sushil Modi claims ED, CBI have 'strong evidence' against Lalu Prasad Yadav, family of benami transactions

Sushil Kumar Modi claimed ED, CBI and the Income Tax department had "strong evidence" of benami transactions against Lalu Prasad Yadav and his family members and "they will not only face charge sheet but also be sent to jail and awarded punishment"

Linking Aadhaar to real estate deals: Why it is need of the hour to bring benami transactions to light
Business

Linking Aadhaar to real estate deals: Why it is need of the hour to bring benami transactions to light

Immovable properties remain impervious to Aadhaar scrutiny which is why the Urban Development Minister has mooted this suggestion

Rs 200 notes: To kill illegal cash deals, make it the top denomination; scrap 500 and 2,000 bills
Business

Rs 200 notes: To kill illegal cash deals, make it the top denomination; scrap 500 and 2,000 bills

Cash-based illegal transactions happen mostly using high value currencies. Bringing down the value of units in circulation is the only way to address this problem

BJP welcomes CBI raids at Lalu Prasad's residence, says Nitish Kumar should end alliance with RJD
India

BJP welcomes CBI raids at Lalu Prasad's residence, says Nitish Kumar should end alliance with RJD

The BJP has welcomed CBI raids on Lalu Prasad's residence over a fresh case of alleged irregularities in awarding tender for the maintenance of hotels

Income tax dept unearths 400 benami deals, attaches Rs 600-cr properties
Business

Income tax dept unearths 400 benami deals, attaches Rs 600-cr properties

Immovable properties have been attached in 40 cases with total value of more than Rs 530 crore in Kolkata, Mumbai, Delhi, Gujarat, Rajasthan and Madhya Pradesh

Govt forms task force against shell companies, vows to take'harsh punitive' action
Business

Govt forms task force against shell companies, vows to take'harsh punitive' action

There are about 15 lakh registered companies in India and only 6 lakh companies file their annual return. This means a large number of these companies may be indulging in financial irregularities," a PMO statement said.

Demonetisation and black money: PM Modi must first account for BJP’s poll funds
Politics

Demonetisation and black money: PM Modi must first account for BJP’s poll funds

There is none better other than PM Modi and the ruling political party, the BJP, to initiate the process by disclosing own funding sources

Modi govt's next push against benami properties may settle down the real estate sector
Business

Modi govt's next push against benami properties may settle down the real estate sector

All those benamdars and the real owners, who have been indulging in bogus transactions since the period the original Benami Act was formulated, will find that there is no escape route if they are identified

Benami transactions: Rigorous imprisonment of up to 7 years
India

Benami transactions: Rigorous imprisonment of up to 7 years

People keeping 'benami' properties to evade taxes will get up to seven years rigorous imprisonment and fine, as per a new law aimed at checking black money in real estate sector.