Modi’s Attack On Benami Property & It’s Impact- Download Benami Property Act 2016 pdf
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Current Economic Reform Has Worst Effect On India’s Real state & Property Industry.Ihis Industry will Be Nor More Lucrative Business Or Industry For Investment.
This Is Time To Diversify Your Real state Business Into Other Business. Start Such A Business which Shapes It In Changed Economic Enviornement Without Hampering Your Intrest.Contact Us For Startegic Business Consulting Help
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Modi Is Planning to Attack On Benami Property.It’s Impact Will be quiet good On Nations economy In Long Term.Here we will Try To Explain Some facts about this…
What Is Benami Property : Any Unaccountable Property which source of Income for purchasing it Cant be proved is Benami Property In eyes Of Laws No Matter who is owner of this.Any Property On which Tax Is Not Paid properly,A property which is in name of any other body but paid by some one else,A property which owner can’t prove the rational income against his property i.e. purchased by some such money which is known as black money etc all will fall into catogery of Benamy Property.
For Example If U Are An employee & Ur Monthly salary Is 1 laks Rs But U have huge Property which a salaried person can’t purchase,govt may ask to u to prove source.
What Are The Source Of Benami Property : Mostly The person who have black money & did not paid taxes invest their black money In Property To Hide Their Black Money & Replicate this money.
No need to say that real state is sector which is platform for this. This sector accounts approx 11% of Indian GDP.
WHAT MAY BE PLAN OF MODI ?
The Govt May Implement his plan in following way —
1) Govt. May collect all data from govt sources about holders of Property.& May Ask to prove rational source of money invested to purchase it.
2) Govt may ask volunteer discloser plan.
3) Govt May Collect Data Who Have invested in Luxuries like having Luxuries cars,Hotels stay,Foreign Tours,Jewelry Purchase etc.In Later stage an investigation may be done for their property & assets.
4) Strict Investigation Of All Prime Properties,Comercial properties,Properties On Highways.
5) Govt May Bring Cumplosory Online Time Bound Decleration Of Your Property In which On A portal U have to Inform details abt all ur property.This Will Be Linked with UR Pan card / Adhar Card.If U don’t Register ur online property details u cant sell / buy property.
Punishment Provisions In Law
– 7 Yrs Imprisonment
– Confiscation Of Property By Govt & It’s Disposition.
IMPACT ON PUBLIC & NATION
– Property Rates will Go down. Rental For Comercial Property Will Also Go Down.
– Artificial Occupation as investment In Property which increases prices of properties will be banned.
– Only Real Purchaser will come to purchase the property.Black Marketing hence price rises will end.
– Real state will be no more most lucrative sector for investment.
– Increase in Govt Revenue Collection. seized property by Govt will be disposed by govt hence govt will get money.
– Disappearance of Middleman like property dealers etc hence no commissioning.
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Great Reforms Has Been Started In India
In Form Of Currency Ban,Illegal Property Act,Black Money Banning,Political Reforms,Bureaucratic Reform,Business Process Reforms etc.
It Will Change Entire Business Process.
TIME TO REFORM & DIVERSIFY YOUR BUSINESS TOO
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