Benami Property Transactions, Black Money, Money Laundering Treatise by CA. Satyadev Purohit – Edition 2025

Description

The Prohibition of Benami Property Transactions law, Black Money law and Money-laundering law are less discussed laws but these law have significant implications on the big financial and property related transactions. For a professional engaged in the practice of income-tax, financial management and money related transaction, an expert knowledge of these laws is very essential.

We are pleased to present a unique and three-in-one title covering a detailed and working commentary on Prohibition of Benami Property Transactions law, Black Money law and Money-Laundering law.

For the sake of convenience, the present book is divided into following three parts, namely :

Part I of the Book provides an overview of the provisions relating to the Benami Transactions (Prohibition) Act, 1988 as thoroughly amended by the Benami Transaction (Prohibition) Amendment Act, 2016. This Act seeks to prohibit the Benami transactions irrespective of the method by which the Benami property has been acquired. This Part is divided in to 15 Chapters covering working commentary on various aspects of the said Act.

The Appendix to Part I incorporates reproduction of updated text of the Benami Transactions (Prohibition) Act, 1988 as amended by the Benami Transactions (Prohibition) Amendment Act, 2016 and Prohibition of Benami Property Transactions Rules, 1988.

Part II of the Book contains scheme of provisions relating to Black Money transactions and their implications on the persons who are in possession of the Black Money. This part is divided into 9 Chapters covering an overview of the discovery and assessment of Undisclosed Foreign Income and Assets, Penalties and Punishment for non-disclosure of Foreign Income and Assets, Recovery of tax, Appeal and revisional mechanism.

Appendix to Part II of the Book contains updated text of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 as well as Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015.

Part III of the Book deals with the law and practice in respect of Prevention of Money Laundering Act, 2002. This part contains as more as 11 chapters covering an overview of Basics of Money-Laundering Act, Offences relating to money-laundering, Obligation of a Reporting Entity, Attachment of Property, Adjudication of Offence and Confiscation of Property, Appellate mechanism, etc.

Appendix to Part III of the Book contains updated text of the Prevention of Money-Laundering Act, 2002 and various Rules made thereunder.

The present Book, we believe, would prove to be extremely useful for the Chartered Accountants, Company Secretaries, Advocates and Financial Management professionals who are engaged in managing the tax, investments and financial related transactions of their clients.

Statutory provisions stated in the book are thoroughly updated till the date. The gist of relevant Notifications and important judicial pronouncements have also been incorporated at the relevant text.

Each chapter of the Book contains a detailed commentary on the related subject-matter. The object behind this is to provide the readers a systemic insight into the legal as well as practical aspects of the these three laws.

Notwithstanding the best of our care, the likelihood of certain shortcomings having crept into this book cannot be ruled out. We, therefore, solicit creative feedback from our esteemed readers to bring to our notice any mistakes, errors, omissions or discrepancies, as and where noticed by them.