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Unearthing of Benami Properties worth Rs. 4,300 crore

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Due to intensive efforts undertaken by the Income-tax Department, provisional attachment has been made in more than 1600 cases of properties under the Benami Transactions (Prohibition) Act, 1988. These include plots of land, flats, shops, vehicles, deposits in bank accounts, fixed deposits etc. The value of properties under attachment is more than Rs. 4,300 crore including immovable properties of more than Rs. 3400 crore.

Suitable action under the Benami Transactions (Prohibition) Act, 1988, inter alia, against the benamidars and the beneficial owners has been taken by the Income-tax Department. However, it may be mentioned here that category wise details of the persons are not maintained by the Income-tax Department. This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha on july 31.