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Modi Govt Start Attaching BENAMIs :Opening Score Rs 3500 Cr

Jan. 11 Crime, Social Cause Comments

[New Delhi]Modi Govt Start Attaching BENAMIs :Opening Score Rs 3500 Cr
@narendramodi Warned
He Informed
Now
His Govt
Starts Attaching BENAMI Properties
Inaugural Attchments @ Rs 3500 Cr
As per The Income Tax Department (ITD)
it has attached more than 900 benami properties including flats, shops, jewellery and vehicles worth over Rs 3,500 crore.
ITD said in a statement that it has stepped up action under the Prohibition of Benami Property Transactions Act, which came into force from November 1, 2016.
The Act provides for provisional attachment and subsequent confiscation of benami properties, whether movable or immovable.
The department had set up 24 dedicated Benami Prohibition Units (BPUs) under its Investigation Directorates all over India in May, 2017 to ensure swift action in respect of Benami properties.
Benami literally means ‘without a name’. An asset without a legal owner or a fictitious owner is called benami.
The original Benami Act was introduced in 1988 for prevention of black money and was amended in 2016 to prohibit benami transactions and provides for confiscating benami properties.

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