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of <h1>Understanding Benami Transactions: Key Exceptions for Family, Fiduciary Roles, and Hindu Undivided Families Under Specific Conditions.</h1> A Benami transaction involves a property transferred to or held by one person, while the payment is made by another, for the benefit of the payer. Such transactions are not considered benami if the property is held by a family member under certain conditions, in a fiduciary capacity, or by an individual for their spouse or children from known sources. Examples include purchasing property in another's name or using fictitious names. Exceptions exist for properties held by a Hindu Undivided Family (HUF) or in fiduciary relationships. Transactions where the owner is unaware or the payer is untraceable are also considered benami.
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