https://www.taxtmi.com/news?id=18076 The Benami Transactions (Prohibition) Amendment Act, 2016 empowers provisional attachment and confiscation of benami properties and criminal prosecution of beneficial owners, benamidars, abettors and inducers with imprisonment and fines related to fair market value. The Income-tax Department has identified and provisionally attached numerous benami transactions across bank deposits, land, flats and jewellery, established 24 dedicated Benami Prohibition Units for enforcement, and undertaken targeted searches to uncover illicit wealth. en-us Wed, 24 May 2017 17:32:48 +0530 Wed, 24 May 2017 17:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18076 The Benami Transactions (Prohibition) Amendment Act, 2016 empowers provisional attachment and confiscation of benami properties and criminal prosecution of beneficial owners, benamidars, abettors and inducers with imprisonment and fines related to fair market value. The Income-tax Department has identified and provisionally attached numerous benami transactions across bank deposits, land, flats and jewellery, established 24 dedicated Benami Prohibition Units for enforcement, and undertaken targeted searches to uncover illicit wealth. News - Wed, 24 May 2017 17:32:48 +0530 https://www.taxtmi.com/news?id=18076