Extension of Various Time Limits Under Direct Tax & Benami Laws.
What is the scope of Prohibition of Benami Property Transactions Act, 1988?
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Dear All If any person, who have done some transactions before 2016, and now after coming this act into force, those transactions became Benami. My question is whether this Benami Act is applicable to those transactions happened before 2016 and, if Yes then, what will be the Consequences and Effects of this act on those Transactions (Penalty/Fine/Imprisonment). Whether there is any exemption available to Assessee???
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