BENAMI PROPERTIES


What is Benami Property?

The property bought or paid by another person to evade or hide his black money or an illegal transaction in the name of the present owner, who does not have any money nor business nor any account nor any income nor any other sources.

What will happen to these properties?

If, Proper accounts or clarification or explanation with documentary proof or evidence is not submitted, regarding the source of money or income or details or known source of income ,then, the property will be attached and the benami holder might be imprisoned up to 7 years.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s