Prohibition of Benami Property Transactions Act, 1988 (As Amended by Finance Act, 2022)

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Description
The Benami Property Transactions (Prohibition) Act, 1988 was amended in 2016 and the amended Act came into force from 1.11.2016. This amendment Act of 2016 has made various changes to the Act of 1988. These changes are for establishing the authorities to implement the Act and the provisions enabling them to enforce the Act. This book gives a comprehensive picture of the law relating to prohibition of Benami property transactions. It tries to compare the powers of the authorities under the Benami Transactions (Prohibition) Amendment Act, 2016 and the Income-tax Act, 1961 and gives the similarities and variations under both the legislations in respect of powers of various authorities. The book is a very useful referencer and a guide for a person who may be a property owner, tax payer, tax authority, enforcement officers, professional(s), student(s), research scholar and consumers. It comprehensively covers the relevant provisions of the Prohibition of Benami Property Transactions Act, 1988 along with rules and relevant notification(s) issued by the Central Board of Direct Taxes and relevant notices issued under the Income Tax Act, 1961. The book has been written in a manner which would help the professionals in getting a better understanding of the provisions under the Prohibition of Benami Property Transaction Act, 1988 (as amended in 2016). Section wise analysis of all important issues under the Prohibition of Benami Property Transactions Act, 1988 and the Prohibition of Benami Property Transactions Rules, 2016 have been analysed and discussed at length with a practical approach. The illustration with the topics, would help in understanding the applicable laws in a lucid manner.
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Table of Contents
Chapter 1 : Evolution of Benami Law in India
Chapter 2 : Introduction of Benami Transactions Act, 1988
Chapter 3 : Distinction Between the old Benami Act and Amended Bemani Act
Chapter 4 : Short Title and Commencement
Chapter 5 : Definitions
Chapter 6 : Onus or Burden of Proof Regarding Benami
Chapter 7 : Benami Property
Chapter 8 : Transactions that are not Classified as Benami Transactions
Chapter 9 : Benami Transaction
Chapter 10 : Benami Transaction VS. Sham Transactions
Chapter 11 : Benamidar
Chapter 12 : Beneficial Owner
Chapter 13 : Fair Market Value
Chapter 14 : Firm
Chapter 15 : Initiating Officer
Chapter 16  : Property
Chapter 17 : Public  Financial Institution
Chapter 18 : Trustee
Chapter 19 : Prohibition of Benami Transactions
Chapter 20 : Prohibition of the Right to Recover Property held Benami
Chapter 21 to Chapter 86
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Author Details
Ram Dutt Sharma got his post-graduation (M.Sc.) from M.D. Jniversity, Rohtak in 1980. He joined the Income-tax Department in the ear 1983 and presently working as Income Tax Officer in Faridabad. He vorked at various stations of North-West Region of Income Tax Department. He has wide experience of all wings of Income Tax Department - such as assessment unit, Special Range, TDS Wing, Investigation Wing, intelligence and Criminal Investigation etc. He has been contributing  articles : and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations. He is the author of number of rooks on direct taxes, namely Computation of income from salary under Income tax law with tax planning, Computation of income from house property, Formation and Management of Charitable and Religious Trust, Educational and Medical Institutions under income-tax law, Taxation of on-Resident Indians under income-tax law etc. which have been highly appreciated by the readers.