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Last Updated: Saturday, February 28, 2015, 21:09

Zee Media Bureau

New Delhi: As commendations annoyance calm atramentous money, a new and added absolute Benami Affairs (Prohibition) Bill will be alien in the accepted affair of the Parliament.  This law will accredit confiscation of benami acreage and accommodate for prosecution, appropriately blocking a above admission for bearing and captivation of atramentous money in the anatomy of benami property, abnormally in absolute estate.   A few added measures are additionally proposed in the Budget for annoyance atramentous money aural the country. The Finance Bill includes a angle to alter the Income-tax Act to prohibit accepting or acquittal of an beforehand of `20,000 or added in banknote for acquirement of adamant property.  Quoting of PAN is actuality fabricated binding for any acquirement or auction beyond the amount of Rs 1 lakh.  The third affair advertisement entities would be appropriate to accouter advice about adopted bill sales and cantankerous bound transactions. Provision is additionally actuality fabricated to accouterment agreeable of reportable transactions.  To advance enforcement, CBDT and CBEC will advantage technology and accept admission to advice in anniversary other’s database.

First Published: Saturday, February 28, 2015, 21:09

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