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of <h1>Prohibition of Benami Property Transactions Rules prescribe valuation, attachment, confiscation, administration and appeal formalities including fee.</h1> These Rules commence 1 November 2016 and prescribe operative procedures under the Prohibition of Benami Property Transactions Act. They define terms, set methods for valuing unquoted equity (including a Discounted Free Cash Flow option and a formula using book values and marketable assets), require electronic transmission of information by income-tax authorities to initiating officers, and mandate provisional attachment in line with Income-tax Act procedures. They detail confiscation notices, custody, sale or deposit of movable assets, transfer of securities, and administration and maintenance of confiscated property with prescribed registers. Disposal follows Income-tax Act schedules. Appeals use Form 3 and attract a fixed fee of ten thousand rupees.
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