Noun
(South Asia) Property that is transacted under the name of a proxy to conceal the identity of the buyer.
(South Asia) A person owning such property.
Source: en.wiktionary.orgThe Benami Transaction (Prohibition)Amendment Act, 2016, seeks to prohibit the benami transaction irrespective of the method by which such property, both movable and immovable, is acquired. Source: Internet
The government had earlier amended Benami Property Transactions Act, 1988, by Benami Transactions (Prohibition) Amendment Act, 2016 to make the law stronger. Source: Internet
With an aim of getting people's participation in the effort to unearth black money and curb tax evasion, the Income Tax Department has come out with a new reward scheme titled Benami Transactions Informants Reward Scheme, 2018. Source: Internet
“Some of these assets are in the name of his wife and children and others are benami property,” said a senior ED official on condition of anonymity. Source: Internet
“We wonder if it is yet another benami transaction through which the party leadership has extracted the price for giving the ex-legislator a party ticket,” the minister said. Source: Internet