<h1>Indian Parliament Passes Amendment Bill to Strengthen Laws Against Benami Transactions, Introduces Stricter Penalties and Confiscation Powers.</h1> The Benami Transactions (Prohibition) Amendment Bill, 2016, amends the Benami Transactions (Prohibition) Act, 1988, to strengthen the legal framework against benami transactions. The Bill, passed by both houses of the Indian Parliament, introduces stricter definitions and penalties for benami transactions, which involve property held in someone else's name. It establishes authorities for adjudication, an Appellate Tribunal, and empowers the Central Government to confiscate benami properties. The Bill also outlines the roles of various authorities, procedures for adjudication and confiscation, and penalties for violations, aiming to curb tax evasion and illegal property holdings.