IT department cracks whip on Benami Deals

New Delhi, May 25: A strong action against Benami property holders took place yesterday. The Income Tax Department said it has uncovered 400 Benami transactions and attached properties worth Rs 600 crore in about 240 cases on Wednesday.

The operation was conducted the new Benami Prohibition act framed in 2016. The department has set up 24 dedicated Benami Prohibition Units (BPUs) all over India last week to accomplish the mission.

The Benami law provides for a maximum punishment of seven years in jail and a fine if any person is found involving in Benami deals. The act clearly mentions the definition of a Benamidar and Benami property.



"The Income-tax investigation released an official document and said that we have attached deposits in bank accounts, plots of land, flat and jewelry, worth Rs 600 crores in 240 cases.

The statement also shows that mostly these properties lie in Kolkata, Mumbai, Delhi, Gujarat, Rajasthan and Madhya Pradesh.

Finally, the department said that we will share details with other agencies such as CBI and ED if there any criminality involved in acquiring those Benami properties.