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Bill on prevention of black money on the radar: FM

The provision of rigorous imprisonment could be upto 10 years for concealment of assets and black money of serious nature

black money

Taking a concrete step towards the prevention of black money, the finance minister in his budget speech announced to introduce a bill for prevention of black money. For prevention of domestic black money a new act referred to as the BENAMI act is in the offing in the current budget session. Read our full coverage on Union Budget The salient features of the bill includes the provision of prosecution and penalty on individuals and entities that are guilty of concelament of assets and encouraging creation of black money. The provision of rigorous imprisonment could be upto ...