benami

DMPQ: What is benami transaction? What are the key provisions of the Benami Transactions ( Prohibition) Amendment act, 2016? (ECONOMY)

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The benami (without a name) transaction refers to property purchased by a person in the name of some other person. The person on whose name the property has been purchased is called the benamdar and the property so purchased is called the benami property. The person who finances the deal is the real owner. Therefore, … Read more DMPQ: What is benami transaction? What are the key provisions of the Benami Transactions ( Prohibition) Amendment act, 2016? (ECONOMY)

DMPQ: What are the significance of passing the Benami transactions( prohibition) act, 2016? ( ECONOMY)

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Benami transaction are one of the major source for parking the unaccounted wealth by the individuals and firms. Strong laws will help to curb the menace of benami transaction and hence the black money and eventually corruption. It was one of the step taken by the Govt. to deal with the issue of corruption.  The … Read more DMPQ: What are the significance of passing the Benami transactions( prohibition) act, 2016? ( ECONOMY)

DMPQ: What is benami transactions? How it affects the economy? Discuss the provisions of the Benami transactions amendment act? (Acts)

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Benami transactions refer to those transactions in which the real beneficiary of the transaction and the person in whose name the transaction is made are different, specifically transactions relating to properties. The property is held by one person while the payment for purchasing the property is made by another.   Effect on economy: Loss of … Read more DMPQ: What is benami transactions? How it affects the economy? Discuss the provisions of the Benami transactions amendment act? (Acts)