Benami ownership rules to get tighter

Published on April 21, 2015 20:58:58 PM
The Union government is likely to make the rules of the benami property ownership tighter than they are now.

As part of efforts to prevent black money being tucked away into convenient domestic hidey holes, it could sharply prune the list of relatives in whose names property can be acquired to spouses and unmarried daughters 

The new law is likely to say that property acquired in the name of any other person —brother, sister, father, mother, son —risks being confiscated and would lead to jail time.