The Modi government on Friday announced the Benami information award aimed at encouraging people to give information about benami transactions and properties. Even if one seller in the chain of transaction is caught with benami property or a benami transaction, you could also come under scrutiny and be prosecuted under the Benami Act. Or suppose you have given a loan to a company which was caught for benami transactions, even then you can get a notice. The finance minister Arun Jaitley reiterated in his Budget speech that benami transactions and benami companies will be closely monitored. Last year in one of his speeches, Prime Minister Narendra Modi also said that Aadhaar number would be used to track "benami property".

Source: dna June 01, 2018 08:03 UTC