Benami deals News
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The Income Tax Department on Wednesday said it has identified over 400 benami transactions and attached properties worth Rs 600 crore in about 240 cases.
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The new law to prohibit benami transactions, which also provides for up to 7 years imprisonment and penalty for those indulging in such activities, will come into effect from November 1.
A Parliamentary panel Thursday scrutinised the benami transactions prohibition bill which has been brought in by the government to unearth domestic unaccounted wealth.
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