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Amendment in Benami Act

Dated:- 11-8-2015 - There is a proposal to amend the Benami Act. The Benami Transactions (Prohibition) Amendment Bill, 2015 was introduced in the Lok Sabha on 13th May, 2015 to amend the Benami Transactions (Prohibition) Act, 1988. Any transaction wi .....

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(Prohibition) Amendment Bill, 2015 defines a benami transaction to mean, - a transaction or an arrangement - where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another p .....

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the property is held for his benefit or benefit of other members in the family and the consideration for such property has been provided or paid out of the known sources of income of the Hindu undivided family; a person standing in a fiduciary capac .....

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erson as may be notified by the Central Government for this purpose; any person being an individual in the name of his spouse or in the name of any child of such individual and the consideration for such property has been provided or paid out of the .....

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