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Legal Action: Benami Act Violators To Face Twin problems

Legal Action: Benami Act Violators To Face Twin problems

Friday, March 3, 2017, 4:54 PM

The tax department today,warned that those who undertake Benami transactions, would invite Rigorous Imprisonment (RI) of up to 7 years and such violators would also stand to be charged under the I-T Act. Income Tax department stated: "Do not enter into Benami transactions" as the Benami Property Transactions Act, 1988, is "now in action" from November 1, 2016.
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