https://www.taxtmi.com/news?id=21532 The Prohibition of Benami Property Transactions Act 1988, amended in 2016, forbids benami transactions in movable and immovable property and has prompted issuance of numerous show cause notices. The Income-tax Department has set up Benami Prohibition Units to gather and match information for identification and action. Complementing enforcement, the Benami Transactions Informants Reward Scheme, 2018, allows confidential reporting by informants and offers prescribed rewards for actionable information, with identities of informants protected. en-us Wed, 03 Jul 2019 14:24:31 +0530 Wed, 03 Jul 2019 14:24:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21532 The Prohibition of Benami Property Transactions Act 1988, amended in 2016, forbids benami transactions in movable and immovable property and has prompted issuance of numerous show cause notices. The Income-tax Department has set up Benami Prohibition Units to gather and match information for identification and action. Complementing enforcement, the Benami Transactions Informants Reward Scheme, 2018, allows confidential reporting by informants and offers prescribed rewards for actionable information, with identities of informants protected. News - Wed, 03 Jul 2019 14:24:31 +0530 https://www.taxtmi.com/news?id=21532