Kolkata IT Department Catches On 300 Benami Properties

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According to the sources of the IT department, Kolkata Income Tax (IT) department summarized a property list of 300 of such properties, which have been typecast as Benami Properties.

The IT department of Kolkata has also revealed that the acquisition of such properties in the city and prosecution of the owners are verisimilar. The department also informed that they would come up with another analysis of the properties belonging to the owners, specifically those from West Bengal state jurisdiction. Once the investigation ends, it will be followed by raids as per the departmental sources.

Analysis says that most of these properties are from south Kolkata. Out of which 300 of such properties have been already identified. A special wing of the IT department is looking into this sector is named as ‘Benami Properties Unit’ (BPU).

According to the Benami Transactions (Prohibition) Amended Act, 2016, government agencies have the authority to seize the properties and take the Benamidaar to the courts. The Benami Transactions (Prohibition) Amendment Act, 2016 came into effect from 1st November, 2016 after 28 years of its first attestation. The act couldn’t be operative as it has certain deep-rooted glitch. A person, found guilty of frisking of benami transaction by the court, will be punishable with scrupulous custody for a term not less than a year but which may extend to 7 years and shall also be accountable to fine which may extend to 25% of the valuation of the property in standard market.

-LNN (Liyans News Network)

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