Bare Act
The Jammu and Kashmir Benami Transactions (Prohibition) Act, 2010
The Jammu and Kashmir Benami Transactions (Prohibition) Act, 2010 prohibits entering into transactions where property is transferred to one person for consideration paid by another person. This Act applies statewide and prohibits benami transactions except in specific cases like property purchased in a wife's or unmarried daughter's name or held by depositories. Offenders face imprisonment of up to seven years, fines up to five lakh rupees, or both. Properties held benami can be acquired by the government without payment, and claims to recover benami property are barred. The Act aims to curb black money, tax evasion, and property corruption by preventing people from hiding actual ownership of assets in Jammu and Kashmir.
- 1. Short title and commencement.
- 2. Definitions.
- 3. Prohibition of benami transactions.
- 4. Penalty.
- 5. Prohibition of the right to recover property held benami.
- 6. Property held benami liable to acquisition.
- 7. Act not to apply in certain cases.
- 8. Repeal of provisions of certain Acts.
- 9. Power to make rules.
PDF: pending for this language.