Govt to seize 'benami' properties

Bill in monsoon session

GN Bureau | June 29, 2011



In a bid to tackle black money and tax evasion, the government is bringing a new law in the upcoming monsoon session of parliament in August to clamp down on 'benami' deals.

One of the provisions in the proposed law is to empower the government to seize the 'benami' properties recorded in the name of the owners who are not able to establish the source of funds used to carry out the transaction.

The Benami Transaction Bill is listed on the union cabinet's agenda for Thursday.

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