Taxman could gain greater power to target benami properties
Representative Image MUMBAI: Efforts to strengthen the law against benami transactions are underway. These transactions often see faceless individuals, slum residents, and impoverished laborers in tribal areas holding properties worth crores for the actual owners who conceal their identities. A committee formed by the Central Board of Direct Taxes (CBDT) has put forth recommendations, including granting officials access to the Aadhaar database, state property registries, and the vehicle and driving license data. They also propose amending the law to allow the confiscation of other assets belonging to true beneficiaries if a benami asset remains untraceable. The committee, which submitted its…