https://www.taxtmi.com/manuals?id=3741 A Benami transaction occurs when property is held by one person but paid for by another, and held for the payer's benefit, including transfers in a fictitious name, cases where the ostensible owner is unaware or denies ownership, and where the provider of consideration is fictitious or untraceable. Exceptions cover holdings by HUF members from known HUF funds, recognised fiduciaries, property in the name of spouse or child paid from the individual's known sources, and joint holdings with specified relatives where the individual's known-source payment is provable. en-us Wed, 20 Dec 2023 12:16:00 +0530 Tue, 02 Jan 2024 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3741 A Benami transaction occurs when property is held by one person but paid for by another, and held for the payer's benefit, including transfers in a fictitious name, cases where the ostensible owner is unaware or denies ownership, and where the provider of consideration is fictitious or untraceable. Exceptions cover holdings by HUF members from known HUF funds, recognised fiduciaries, property in the name of spouse or child paid from the individual's known sources, and joint holdings with specified relatives where the individual's known-source payment is provable. Manuals Income Tax Wed, 20 Dec 2023 12:16:00 +0530 https://www.taxtmi.com/manuals?id=3741