Know all about benami property and benami transactions скачать в хорошем качестве

Know all about benami property and benami transactions

http://lawrato.com is an interactive online platform that makes it faster and easier to find and hire the best Lawyers in any city / court in India. After demonetisation, Prime Minister Narendra Modi will crack the whip on benami property holders. Benami essentially means property without a name. In this kind of transaction the person who pays for the property does not buys it under his/her own name. The person on whose name the property has been purchased is called the benamdar and the property so purchased is called the benami property. The person who finances the deal is the real owner. ' The property is held for the benefit - direct or indirect - of the person paying the amount. _________________________________________________________________ What isn’t a benami transaction? 1. Property held under the name of spouse or child, for which the amount is being paid through a known source of income. 2. A joint property with brother, sister or other relatives for which the amount is paid out of known sources of income. 3. Property held by someone in a fiduciary capacity; that is, transaction involving a trustee and a beneficiary. What falls under benami transaction? Assets of any kind — movable, immovable, tangible, intangible, any right or interest, or legal documents. As such, even gold or financial securities could qualify to be benami. _________________________________________________________________ How it affects the people? It is being done to curb on black money. People with unaccounted income will sure have a tough time ahead. As for the general public, it won’t be much of an issue if their transactions are legal. _________________________________________________________________ Advocate Rohit Nagpal can be consulted for further information at http://lawrato.com/advocate-rohit-nagpal or by calling 09599-000-555.