Benami Transactions (Prohibition) Amendment Act, 2016 To Come In To Effect From Tomorrow [Read Bill]

The Income Tax department has notified that the Benami Transactions (Prohibition) Amendment Act, 2016 (BTP Amendment Act), will come into force from 1st November 2016. The new law seeks to give more teeth to the authorities to curb benami transactions.The notification issued by the Income Tax department, stated that after coming into effect,  the BTP Amendment Act, the existing...