Saturday, November 23, 2024
spot_img

LS passes Benami Transactions Amendment Bill

Date:

Share post:

spot_img
spot_img

New Delhi: The Lok Sabha on Wednesday passed the Benami Transactions Amendment Bill, which seeks to amend the definition of ‘benami’ transactions, establish adjudicating authorities and an appellate tribunal.
“The legislation has the provision of confiscating benami assets and it is predominantly an anti-black money measure,” Union Finance Minister Arun Jaitley said while moving the bill.
He said the purpose of the bill is to discourage the activity of acquiring the properties in the name of fictitious and other people.
The bill also specifies prosecution and penalty for entering into benami, proxy transactions. (IANS)

spot_img
spot_img

Related articles

Rally against ‘illegal’ sand mining in Dudhnoi river

DAINADUBI/DUDHNOI, Nov 22: More than 15 Civil Society Organisations (CSOs) from Meghalaya, members of the All Bodo Students'...

News Capsule

Guidebooks The Meghalaya Board of School Education (MBoSE) has informed all non-regular and compartmental students, registered to appear for...

Govt aiming to simplify mining license process, says Tynsong

SHILLONG, Nov 22: Deputy Chief Minister Prestone Tynsong on Friday said that the state government is working to...

Assembly committee contented with progress of Smart City projects

SHILLONG, Nov 22: The Estimates Committee of the Meghalaya Legislative Assembly has expressed satisfaction with the progress of...