Section 54 - Penalty for false information. - Prohibition Of Benami Property Transactions Act, 1988

Penalty for false information. 54. Any person who is required to furnish information under this Act knowingly gives false information to any authority or furnishes any false document in any proceeding under this Act, shall be punishable with rigorous imprisonment for a term which shall not be less than six months but which may extend to five years and shall also be liable to fine which may extend to ten per cent. of the fair market value of the property ******************* Notes: 1. Inserted vide Benami Transactions (Prohibition) Amendment Act, 2016