Benami Transaction A Legal Understanding

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Akshaya B

Article Assistant

First Sight

There has been a major crackdown on Benami properties hence specialized anti-benami units have been set up by the income tax department across the country and in almost every state and thousands of properties already stand attached under the prohibition of benami property transactions act, 1988.

Benami Transaction

The word benami has various synonym referring to made, held, done, or transacted in the name of another person. In common it refers a transaction in which a property is transferred in the name of a person, whereas the consideration for the same is paid by some other person.

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