Benami Transactions (Prohibition) Act Consultant

Benami Transaction Act prohibits all illegal benami transactions and imposes heavy penalties as well imprisonment of up to 7 years for the violation of the act. The act defines a transaction where a property is held by or transferred to a person but paid by another or benami transaction, this gives a right to recover any property held benami. It also includes various forms of punishment like confiscation of benami property, fines of up to 25% of fair market value, and up to 7 years of imprisonment.

All transactions will be treated as Benami transactions:

• Where a property is held or carried out under a fictitious name and transaction, it can be a person also.
• Where the property owner does not know the ownership.
• Where the reports and documents are untraceable.

To minimise all these unfairness in the transaction Skyquest provide:

• Helps in secure transaction
• Complete advice on fair and genuine transactions
• Complete guidance on report and document