https://www.taxtmi.com/news?id=18494 The amended Benami Transactions (Prohibition) Act, 2016, effective 1 November 2016 with notified rules, prohibits benami transactions and empowers designated authorities to provisionally attach and confiscate benami properties and to prosecute persons who enter into such transactions, with statutory penalties including imprisonment and fines linked to the fair market value of the property. en-us Wed, 26 Jul 2017 18:31:42 +0530 Wed, 26 Jul 2017 18:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18494 The amended Benami Transactions (Prohibition) Act, 2016, effective 1 November 2016 with notified rules, prohibits benami transactions and empowers designated authorities to provisionally attach and confiscate benami properties and to prosecute persons who enter into such transactions, with statutory penalties including imprisonment and fines linked to the fair market value of the property. News - Wed, 26 Jul 2017 18:31:42 +0530 https://www.taxtmi.com/news?id=18494