Income Tax

Guidelines for dealing with information under Benami Transactions Informants Reward Scheme 2018

Guidelines for dealing with information under Benami Transactions Informants Reward Scheme 2018.  

The CBDT has laid down the guidelines for for dealing with information under the Benami Transactions Informants Reward Scheme, 2018 (‘the Scheme’) in the form of internal procedure for dealing with the matters under the Scheme to ensure timely and proper handling of the matters therein.

Informant Code

As per the procedure, an informant code comprised of eleven alphanumeric characters may be allotted to the individual or groups of individuals as the case may be. All information provided by an Informant under the scheme at any point of time shall be recorded against the same Informant Code.

Foreign Informant

The guidelines also provide for broad modalities of receiving of information from a foreign person:

Grant of interim and final reward

The authority competent to grant any reward under the Scheme shall be a reward committee consisting of five senior officials of the Department. The proposal for grant of interim reward may be prepared by the Initiating Officer (IO). The reward committee shall examine the proposal and dispose of the same within one month from the date of receipt. The reward shall be disbursed within one month from the date of sanction order.

The proposal for grant of final reward may be prepared when confiscation of property has become final. The reward committee shall examine the proposal and dispose of within one month from the date of receipt. The reward shall be disbursed within one month from the date of sanction order and receipt thereof shall be obtained and kept in record.

The Guidelines also provide for control and audit of expenditure relating to reward, responsibility for overall management, retention of files etc., steps to be taken where review petition is filed, monitoring mechanism etc.

Also read:

Benami Transactions Informants Reward Scheme 2018 Click Here >>

Income Tax Informants Rewards Scheme 2018 Click Here >>

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