Ministry of Finance

Posted On: 24 JUL 2018 4:01PM by PIB Delhi

Prohibition of Benami Property Transactions Act 1988 as amended by the Benami Transaction (Prohibition) Amendment Act, 2016 seeks to prohibit the Benami Transactions irrespective of the method by which the Benami Property is acquired. Such Benami Transactions include transactions in respect of movable as well as immovable properties.

As on 30/06/2018, provisional attachments have been made in more than 1600 Benami Transactions involving Benami Properties valued at over ₹ 4,300 crores.

The Government of India has taken various steps to identify Benami Properties.  The Income-tax Department (ITD) has set-up 24 dedicated Benami Prohibition Units (BPUs) across India. These BPUs are involved in gathering information and matching the same with the data available for identifying the Benami Properties and taking effective action as per the provisions of Prohibition of Benami Property Transactions Act 1988 as amended by the Benami Transaction (Prohibition) Amendment Act, 2016.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in Written Reply to a question in Rajya Sabha today.

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DSM/RM/KA

Benami property prohibition strengthened: dedicated units identify and provisionally attach suspect transactions under amended law. The amended Prohibition of Benami Property Transactions Act prohibits benami transactions irrespective of acquisition method and covers movable and immovable property. Dedicated Benami Prohibition Units in the Income-tax Department gather and match information to identify suspected benami properties and support provisional attachment and other actions under the amended enforcement framework.