tax · In Force

Prohibition of Benami Property Transactions Act 1988

Prohibits benami transactions. Adjudicating Authority and Appellate Tribunal. 7 years rigorous imprisonment + fine 25% of fair market value. Informer reward.

Enforced

1 November 2016

Ministry

Ministry of Finance

Key provisions and changes

• 7 years rigorous imprisonment
• Confiscation of benami property
• Adjudicating Authority
• Appellate Tribunal
• Informer reward provision