Taxmann Law Relating To Prohibition of Benami Property Transactions Act 1988 Edition April 2022

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Taxmann’s Law Relating to Prohibition of Benami Property Transactions Act 1988 covers the Section-wise Commentary along-with ready reckoner to Benami Law & Relatives in whose names, property can be purchased/held without Benami taint. This book also covers various FAQs on Benami Transactions.

 

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Taxmann Law Relating to Prohibition of Benami Property Transactions

Taxmann Law Relating to Prohibition of Benami Property Transactions

This book provides a comprehensive section-wise commentary on the law relating to the Prohibition of Benami Property Transactions. It is rendered in an easy to read & follow ‘FAQ’ format. It also includes the Legislative History and effective date of applicability based on given Case Laws. Flow charts & tables have been provided in this book for ease of reference.

This book is designed to be a handy referencer to the practitioners of the following laws:

  • Civil Law
  • Criminal Law
  • Company Law
  • Income-tax

The Present Publication is the 5th Edition authored by CA Srinivasan Anand G. This book is amended by the Finance Act 2022, with the following noteworthy features:

[Extensive Analysis with Case Laws (from 2016 to March 2022)] specifically for the following topics:

  • Pleadings which are required to avail the exceptions/exclusions to Benami transactions
  • Shell companies
  • Civil asset forfeiture regime
  • Nature of confiscation
  • Controversy over the date of order passed by authorities, whether passed within limitation or after but ‘backdated’ to show it was passed within the limitation
  • Case Laws of similar/identically worded provisions from other Laws such as:
  • Income-tax
  • Civil Procedure Code
  • Valuation Rules and methods

[Ready Reckoner] is provided for the following cases:

  • In respect of the relatives in whose name property can be held without attracting the taint of Benami
  • Benami Transaction in Shares Reckoner
  • Alphabetical Ready Reckoner to Benami Law

[Benami Share Transactions] are explained in light of relevant provisions of the Companies Act 2013

[Analysis of Procedures] which includes the following:

  • Procedure before Initiating Officer (IO) u/s 24 (responses to show cause notice & provisional attachment order)
  • Procedure before Adjudicating Authority (AA) u/s 26 (rights of noticee to require material in possession of IO, based on which the IO attached the show caused property and made reference to the AA

[Analysis of Appellate, Revision and Rectification Remedies] is provided in this book

[Valuation Rules for Determining the Fair Market Value] of Benami property to levy fines under sections 53 and 54 as a percentage of fair market value

[Interaction with Other Laws] This book covers the relevant provisions of other laws, such as:

  • Companies Act, 2013
  • Fugitive Economic Offenders Act, 2018
  • Income Tax Act, 1961
  • Indian Penal Code, 1860
  • Civil Procedure Code, 1908
  • Criminal Procedure Code, 1973
  • Prevention of Money-laundering Act 2022
  • Transfer of Property Act, 1882
  • Indian Trust Act, 1882

The detailed contents of the book are as follows:

  • Preliminary
  • Prohibition of Benami Transactions
  • Authorities
  • Attachment, Adjudication and Confiscation
  • Appellate Tribunal
  • Special Courts
  • Offences and Prosecution
  • Miscellaneous
Weight 0.505 kg
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