Government is going to take severe action on Benami Transactions

Few days ago, Indian Government banned Rs. 500 and Rs. 1000 notes in India and asked the people to deposit them in the bank account. But some of black money holders deposited their amount in others account. So, government is decided to take severe action on this Benami Transactions. IT asked the banks to give information about the people who deposited Rs. 2.50Lakh and above in banks. IT is going to give notice to them. If it is proved it was a benami transaction the person may sent to jail or fined 200 percent amount.

Government is going to take severe action on Benami Transactions

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