Modi says law against benami property soon: All you need to know

Modi promised to operationalise the law to deal with 'benami' properties

Breaking News - After demonetisation, Prime Minister Narendra Modi will crack the whip on benami property holders.

 

"You are possibly aware of a law about Benami property in our country which came into being in 1988, but neither were its rules ever framed, nor was it notified. It just lay dormant," Modi said in his monthly 'Mann ki Baat' radio address.

 

The New Benami Act came into effect from November 1.

It prohibits illegal benami transactions, under which up to seven years of imprisonment and penalty for those indulging in such activities could be handed out.

 

Benami is one of the most searched on Google with people enquiring about 'How to convert black money into white money'.

 

What is Benami?

What constitutes Benami property?

What is Benami Act?

What isn’t a benami transaction?

What falls under benami transaction?

How it affects the people?

 

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