With the hope of introducing ‘Benami Transactions (Prohibition) Amendment Bill, 2015’ in the ongoing monsoon session, the Union Cabinet has approved it on July 20.
File Photo of Cabinet Meeting. PIB
Many people across India buy assets under a fictitious name so as to avoid being taxed and to conceal illegally obtained wealth.
Representational Image. Rediff
Getting black money back was one of the a major electoral promise that NDA made before coming to power in May 2014.
Representational Image Indian Express
The Benami Bill was tabled back in May 2015 and then referred to Parliament’s standing committee on finance that same year.