Benami Transactions Current Affairs, GK & News

Companies (Auditor’s Report) Order, 2020 (CARO)

December 23, 2020

The Ministry of Corporate Affairs has announced the notification of Companies (Auditor’s Report) Order, 2020 (CARO). Key Features Disclosure of details of proceedings against company for holding Benami property. The auditor should provide details of investments made by the company. Fraud committed by the company or on the company should be reported. The cash losses ..

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Finance Minister on COVID-19: Tax Filings extended, ATM, bank charges waived off, Business Rules Eased and much more

March 24, 2020

On March 24, 2020, the Finance Minister Nirmala Sitaraman announced several key measures in the view of Corona Virus Pandemic. The minister also announced that the Economic Task Force is to announce Economic Relief Package to contain the spread of the disease. Financial Measures No charges on withdrawal of cash in bank ATMs. Also, the ..

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Government constitutes inter-departmental task force to crack down on benami firms

February 11, 2017

The Union Government has constituted inter-departmental task force comprising members of various regulatory Ministries and enforcement agencies to crack down on benami firms. It is first major post-demonetisation move undertaken by Government for unearthing black money from shell companies used for large-scale money laundering and tax evasion. Key Facts The task force will be headed ..

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Benami Transactions (Prohibition) Amendment Act, 2016 comes into force

November 2, 2016

The Benami Transactions (Prohibition) Amendment Act, 2016, designed to curb black money and passed by parliament in August 2016, came into effect. The new law amended the Benami Transactions Act, 1988 and renamed as the Prohibition of Benami Property Transactions (PBPT) Act, 1988. The amendment act also to strengthen the parent Act in terms of ..

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