The Minister of State for Finance in Rajya Sabha stated that the Prohibition of Benami Property Transactions Act 1988 as amended by the Benami Transaction (Prohibition) Amendment Act, 2016 seeks to prohibit the Benami Transactions irrespective of the method by which the Benami Property is acquired. Such Benami Transactions include transactions in respect of movable as well as immovable properties.
He informed that as on 30/06/2018, provisional attachments have been made in more than 1600 Benami Transactions involving Benami Properties valued at over Rs. 4,300 crores.
The house was informed that the Government of India has taken various steps to identify Benami Properties. The Income-tax Department (ITD) has set-up 24 dedicated Benami Prohibition Units (BPUs) across India. These BPUs are involved in gathering information and matching the same with the data available for identifying the Benami Properties and taking effective action as per the provisions of Prohibition of Benami Property Transactions Act 1988 as amended by the Benami Transaction (Prohibition) Amendment Act, 2016.