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Income Tax Department's major action, benami properties worth Rs 452 crore seized in Vidarbha-Marathwada
Mumbai:-A major action has been taken by the Income Tax Department and the Income Tax Department is conducting raids in Vidarbha and Marathwada. In this, action has also been taken against benami properties and some gold and silver shops. Benami properties worth around Rs 452 crore have been seized in Vidarbha-Marathwada and on May 14, a raid was also conducted by the Income Tax Department on a gold and silver shop in Amravati district.
Seizure is the first step in the action against benami properties. Benami property means money collected illegally or through immovable property, which is transferred to someone else's name to avoid suspicion. These amounts were kept in various accounts in various multistate cooperative societies and some gold and a car were also included. These are cases of keeping a large amount of money in the accounts of cooperative societies in the names of ordinary citizens and investigation of all 30 cases is going on at a fast pace.
This action till March 2025 has been taken under the Benami Transactions (Prohibition) Amendment Act, 2016. A separate desk has been set up by the Income Tax Department to implement this Act. Recently, a notice of Rs 314 crore was issued to a daily wage labourer living a very ordinary life in Madhya Pradesh. Hundreds of crores of rupees were found in his account and the person had no idea about it. The cooperative society in which this account was located, which is located in a very small area, has now been closed, said sources in the Income Tax Department.
Mumbai:-A major action has been taken by the Income Tax Department and the Income Tax Department is conducting raids in Vidarbha and Marathwada. In this, action has also been taken against benami properties and some gold and silver shops. Benami properties worth around Rs 452 crore have been seized in Vidarbha-Marathwada and on May 14, a raid was also conducted by the Income Tax Department on a gold and silver shop in Amravati district.
Seizure is the first step in the action against benami properties. Benami property means money collected illegally or through immovable property, which is transferred to someone else's name to avoid suspicion. These amounts were kept in various accounts in various multistate cooperative societies and some gold and a car were also included. These are cases of keeping a large amount of money in the accounts of cooperative societies in the names of ordinary citizens and investigation of all 30 cases is going on at a fast pace.
This action till March 2025 has been taken under the Benami Transactions (Prohibition) Amendment Act, 2016. A separate desk has been set up by the Income Tax Department to implement this Act. Recently, a notice of Rs 314 crore was issued to a daily wage labourer living a very ordinary life in Madhya Pradesh. Hundreds of crores of rupees were found in his account and the person had no idea about it. The cooperative society in which this account was located, which is located in a very small area, has now been closed, said sources in the Income Tax Department.
Seizure is the first step in the action against benami properties. Benami property means money collected illegally or through immovable property, which is transferred to someone else's name to avoid suspicion. These amounts were kept in various accounts in various multistate cooperative societies and some gold and a car were also included. These are cases of keeping a large amount of money in the accounts of cooperative societies in the names of ordinary citizens and investigation of all 30 cases is going on at a fast pace.
This action till March 2025 has been taken under the Benami Transactions (Prohibition) Amendment Act, 2016. A separate desk has been set up by the Income Tax Department to implement this Act. Recently, a notice of Rs 314 crore was issued to a daily wage labourer living a very ordinary life in Madhya Pradesh. Hundreds of crores of rupees were found in his account and the person had no idea about it. The cooperative society in which this account was located, which is located in a very small area, has now been closed, said sources in the Income Tax Department.
