The Income Tax Department has detected more than 400 anonymous deals in 240 cases and has properties worth 600 crores. The income tax department wants to implement the new benami law, the results of which will appear on the ground.
24 Anonymous Ban Units Posted Nationwide: The Income Tax Department has created 24 benami banned units across the country last week. The department had started taking action under the new benami deal ‘Ban’ Amendment Act, from 1 November 2016.
What is the Provision of Punishment?: This law also provides for a maximum punishment of seven years and a fine. Movable and immovable, direct or indirect, tangible and intangible property, if its real benefit is obtained on the name of someone other than the master, then it is called Anonymous property.
Attaches Properties Worth Rs 600 Crores: It has been stated in an official statement that the Directorate of Income-tax Investigations detected more than 400 anonymous transactions by May 23, 2017. These include bank deposits, piece of land, flats and jewellery. It has been stated in the statement that under the law, property has been temporarily blocked in more than 240 cases. The market value of the attaches properties are close to Rs 600 crore.
Government Officials also Under Investigation: Income Tax Department said that in more than 40 cases, fixed assets have been attached in Kolkata, Mumbai, Delhi, Gujarat, Rajasthan and Madhya Pradesh. According to the value, these properties occupy more than Rs. 530 crores. Apart from this, the department has also raided the premises of 10 senior government officials in the last one month to find out the money earned through corrupt practices.
A Driver Was Found to be Owner of Land worth Rs 7.7 Crore: Giving the details, the department said that in one case in Jabalpur, there was a driver’s land worth 7.7 crore rupees. The real owner of this land is the listed company and owner of Madhya Pradesh. Similarly, a professional in Mumbai had many fixed assets, which were bought in the name of mask companies. These companies were on paper only.