Benami Act

The Benami Transactions (Prohibition) Bill, 2011 was introduced on August 18, 2011, in Lok Sabha replacing the existing Benami Transactions (Prohibition) Act 1998.The magnitude of the problems posed by black money made the central gevernment to pass the Benami Transactions (Prohibition) Amendment Act 2016. This amendment put in place the necessary rules and regulations to deal with the Benami Properties, the money generated through corruption found its way in property.

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