Cabinet approves amendment in the Benami Transactions (Prohibition) amendment Bill, 2015

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..... Cabinet approves amendment in the Benami Transactions (Prohibition) amendment Bill, 2015
News and Press Release
Dated:- 21-7-2016

The Union Cabinet chaired by the Prime Minister Shri Nar .....

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..... endra Modi has given its approval for introducing amendments to the Benami Transactions (Prohibition) (Amendment) Bill, 2015 in Parliament. The amendments aim to strengthen the Bill in terms of legal .....

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..... and administrative procedure so as to overcome the practical difficulties which may arise in the implementation of the provisions of the Bill when it becomes an Act. The legislation is also intended .....

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..... to effectively prohibit benami transactions and consequently prevent circumvention of law through unfair practices. It empowers the Government to confiscate benami property by following due procedure .....

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..... . It therefore promotes equity across all citizens. However, those who declare their benami properties under income declaration scheme will get immunity under the Benami Act.
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..... - PIB .....

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