Prohibition of benami transactions

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....nsaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both. ^5[(3) Whoever enters into any benami transaction on and after the date of commencement of the Benami Transactions (Prohibition) Amendment Act, 2016, shall, notwithstanding anything contained in sub-section (2), be punishable in accordance with the provis....

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....g in sub-section (1) shall apply to- (a) the purchase of property by any person in the name of his wife or unmarried daughter and it shall be presumed, unless the contrary is proved, that the said property had been purchased for the benefit of the wife or the unmarried daughter; (b) the securities held by a- (i) depository as a registered owner under sub-section (1) of s....