The Centre may introduce a value threshold for “Benami deals”, beyond which such transactions shall be invalidated and assets involved confiscated. The current legislation does not provide for any such cap.
“Some provisions of the Benami Transaction (Prohibition) Amendment Act of 2016 are being examined and might be reworked to streamline to crack down on benami properties,” said a senior government official.
The Central Board of Direct Taxes (CBDT) is learnt to have suggested changes to the legislation to remove anomalies while ensuring that enforcement does not lead to harassment, according to an another official. He said there were suggestions on capping