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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on Benami Transactions Informants Reward Scheme, 2018 |
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What is the quantum of the Final reward under this scheme? |
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Ans. Final reward up to 5% of fair market value, as defined in the Act, of movable property, and circle rate, as defined in this scheme, of immovable property confiscated under the Act may be granted by the competent authority on fulfilment of eligibility conditions under the scheme. While granting the final reward, the amount of interim reward paid, if any, shall be reduced from the total final reward granted. However, the maximum amount of total reward (interim and final) in respect of a single benami property shall be limited to Rs. 1 crore. |
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