Contact Your Financial Adviser Money Making MC
22 September 2017
 |
| INR (The Total Investment & Insurance Solutions) |
The
Centre is planning to give out cash rewards to the tune of Rs one crore to
secret informers who provide tip offs to investigative agencies in connection
with Benami Properties.
The initiative is likely to be announced by
next month. A senior Central Board of Direct Taxes (CBDT) official who is part
of the policy making said on condition of anonymity, "An informer will get
minimum Rs 15 lakh and maximum Rs 1 crore.
According to the official, the information
will have to be acute and identity of the informer will be kept secret. The
department will never disclose the identity as this could endanger the
informer.
The
Benami Property Law introduced last year lacked this provision. It is a common
practice by the Enforcement Directorate, the Income Tax department and
Directorate of Revenue Intelligence to reward informers.
The reward, however, is not so
lucrative."Finding Benamidars is a herculean task for Income tax officials
as well as the administration. A senior CBDT official told ANI, "It would
be a lot easier, faster and effective method of operation if we take the help
of informers.
If we have an attractive award prize for
informers then our task will become easy and we will start cracking Benami
property holders nationwide, he further added. This policy is now with Finance
Ministry.
Once it gets approval from Finance Ministry
and Final nod by Finance Minister, it will be announced by CBDT. An
announcement is expected to be made by October end or first week of November.
The Benami Transactions (Prohibition)
Amendment Act, 2016 came into effect from 1st November, 2016. Several benami
transactions have been identified since the coming into effect of the amended
law. The benami properties attached include deposits in bank accounts and
immovable properties.The Total
Investment & Insurance Solutions
No comments:
Post a Comment