Centre likely to set threshold for Benami deals in Budget session

According to the official data, as of May 31, 2019, show-cause notices were issued in more than 2,100 cases involving benami properties , valued at over Rs 9,600 crore

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Illustration: Ajay Mohanty

Shrimi Choudhary New Delhi
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

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First Published: Sep 26 2022 | 6:15 AM IST

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