<h1>2016 Amendment Bill Targets Benami Transactions, Expands Definitions, Imposes Stricter Penalties, and Establishes Adjudicating Authorities</h1> The Benami Transactions (Prohibition) Amendment Bill, 2016, was introduced to strengthen the existing law against benami transactions, which involve property held in the name of one person but actually owned by another. The amendment aims to curb tax evasion and black money by imposing stricter penalties and expanding the definition of benami transactions. It also establishes adjudicating authorities and an appellate tribunal to handle disputes related to such transactions. The bill enhances the government's ability to seize benami properties and prosecute offenders, thereby promoting transparency and accountability in property ownership.