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TMI BlogBenami Transactions Informants Reward Scheme, 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... specific information of benami property. Identity of the informant shall be kept confidential. (b) As per the Prohibition of Benami Property Transactions Act, 1988 , as amended by Benami Transactions (Prohibition) Amendment Act, 2016 (hereinafter referred to as the Act for brevity), any property acquired by a person in the name of a benamidar (other than his close family members or in fiduciary capacity), is liable to be attached and subsequently confiscated and all persons involved in such benami transactions are liable to be prosecuted which carries rigorous imprisonment for term up to seven years. Amended provisions of the Act have come into force with effect from 1st November, 2016. Details of the scheme are given below. 2 . Short title, commencement and scope of the scheme: The scheme shall be called Benami Transactions Informants Reward Scheme, 2018 (the scheme) and shall come into effect from the date of issue. The scheme shall regulate grant and payment of reward to informants for giving specific information of benami property. 3. Informant for the purposes of this scheme: For the purpose of this scheme `Informant means a person, which will include ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same is attached with this Scheme as Annexure-B . (ii) Address of jurisdictional JCIT/Addl. CIT (BP) will be available at the offices of all Directors General of Income Tax (Investigation) [hereinafter referred to as `DGIT (Inv) ] and Principal Directors of Income Tax (Investigation) [hereinafter referred to as `PDIT (Inv) in shorty Directors of Income Tax (Investigation) [hereinafter referred to as `DIT (Inv) in short]. A list of such offices is attached with this Scheme as Annexure-C . (iii) Such person may contact jurisdictional JCIT/Addl. CIT (BP) for giving specific information. (iv) If the JCIT/Addl. CIT (BP) feels that the person has given specific information of benami property, he will give one set of prescribed form as per Annexure-A to such person who shall fill, sign and submit it to the JCIT/Addl. CIT (BP). (v) If there are more than one benami properties located at different places, the person may give information to any of the JCsIT/Addl. CsIT (BP) having jurisdiction over any of these properties. (vi) Where the person gives information about benami properties to any other Income Tax authority, such other authority shall forward such information a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with such Informant Code only and his actual identity shall be known to the JCIT/Addl. CIT (BP) only. (xii) In case of any difficulty, the person desirous of giving specific information of benami property, may contact the PDIT (Inv)/DIT (Inv) of the area. The decision of PDIT (Inv)/DIT (Inv) will be final in the matter of allotment of Informant Code under this scheme. (xiii) It should be noted that furnishing false information/evidence is an offence and a person giving false information/evidence/ statement will be liable to be prosecuted for such offence. 7. When reward may be granted: An informant under the scheme can be granted interim final reward by the competent authority. (i) Interim reward can be granted on fulfillment of the following conditions: (a) the informant has given specific information of benami property in the prescribed format in Annexure-A and obtained informant code under the scheme; (b) provided assistance required, if any, by the Addl./JCIT (BP) or any other investigating officer to whom the JCIT/Addl. CIT (BP) concerned may assign the investigation into the information given by the informant; and (c) pursuant to such information, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts (as was given for claiming reward under this scheme) and if the same is separately found eligible for grant of reward in accordance with this Scheme as well as the Income Tax Informants Reward Scheme, 2018, the total amount of reward under both the schemes taken together shall not exceed the maximum permissible amount under the Income Tax Informants Reward Scheme, 2018, or this Scheme, whichever is higher. In other words, if an informant is found eligible for reward under both the Schemes for information relating to the Act and the Income Tax Act, 1961, the total maximum reward under the two Schemes shall be restricted to ₹ 1 (one) crore as is the limit in this Scheme and if an informant is found eligible for reward under both the Schemes for information relating to the Act and the Black Money (Undisclosed Foreign Income and Assets) Act, 2015 , the total maximum reward under the two Schemes shall be restricted to ₹ 5 (five) crore as is the limit in Income Tax Informants Reward Scheme, 2018. 9. Timelines for grant of interim and final reward: Every endeavour shall be made to grant: (i) interim reward within 4 months of actual provisional attachment of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fulfilled, or (iii) Where information given is vague/non-specific and/or of general nature. For example, where informant says vague things like, I believe X has many bank accounts in the name of his employees or X has purchased many flats in Kolkata, Delhi and Mumbai in his own name and in the name of others , or (iv) Where information given was already available with the Income Tax Department, or (v) Where the information was not received directly from the informant but through any organization other than Income Tax Department. (vi) On any incidental or collateral benefit that may arise to the Government in respect of any other property which is not mentioned in the information furnished by the informant in Annexure-A. In other words, the entitlement of the informant shall be restricted to only the property(ies) mentioned in the Annexure A under this Scheme and shall not extend to any other property as the Department may find out by investigation into the information furnished by the informant. 1 4. Not taking cognizance of information: In case it is found that the antecedents of the informant, nature of the information furnished by him and his conduct justi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orrectness: In case an informant alleges grave injustice in the decision of the competent authority for final reward due to either non-adherence to the Reward Scheme issued by the Board or due to factual incorrectness, he may file a review petition within one month of receipt of the decision, before the DGIT(Inv). In such petition he has to clearly bring out the basis of the alleged grave injustice with specific reference to the provisions of the Reward Scheme which have not been followed by the reward committee or instances of factual incorrectness. No cognizance will be taken of a review petition if it is not mentioned as to which provision of Reward Scheme was not followed or instances of factual incorrectness and if the same is not explained clearly. The DGIT (Inv) shall cause such a petition to be placed before a review committee consisting of (i) the Principal CCIT (CCA) of the region where the reward committee was located, (ii) a CCIT nominated by the Principal CCIT (CCA) and the (iii) the DGIT (Inv) concerned. In case there is no CCIT in the region, the Principal CCIT may nominate a Principal CIT in the review committee. JCIT/Addl. CIT (BP) concerned shall be the Secretary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... artment of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 40/2017 New Delhi, the 18th May, 2017 (Income-tax) S.O. 1621(E).- In exercise of the powers conferred under sub-section (2) of section 28 read with section 59 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), and in supersession of the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, notification number S.O. 3290(E), dated the 25th October, 2016, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), dated the 25th October, 2016 , except as respects things done or omitted to be done before such supersession, the Central Government hereby directs that the Income-tax authorities under section 116 of the Income-tax Act, 1961 (43 of 1961) specified in column (2) of the Schedule, having headquarters at the places specified in the corresponding entry in column (3), to exercise the powers and perform the functions of the Authority under the Prohibition of Benami Property Transactions Act, 45 of 1988 specified in the corresponding entries in column (4) in respect of the territorial areas specified in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngaluru (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Bengaluru (iii) Income Tax Officer (Benami Prohibition),Bengaluru Bengaluru (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of revenue districts in the State of Karnataka (including any district carved out from these subsequently): (i) Bengaluru Urban (ii) Bengaluru Rural (iii) Kolar (iv) Chickballapur (v) Ramanagaram (vi) Tumkur (vii) Dakshin Kannada (viii) Udupi (ix) Uttara Kannada (x) Shimoga (xi) Mysore (xii) Mandya (xiii) Chamarajanagara (xiv) Hassan (xv) Chikmagalur (xvi) Kodagu 4. (i) Joint Commissioner of Income-tax/ Additional Commissioner of Income-tax, (Benami Prohibition), Panaji (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Panaji (iii) Income Tax Officer (Benami Prohibition), Panaji Panaji (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ammu and Kashmir and Punjab 9 (i) Joint Commissioner of Income-tax/ Additional Commissioner of Income-tax, (Benami Prohibition),Chennai (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Chennai (iii) Income Tax Officer (Benami Prohibition), Chennai Chennai (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of the State of Tamilnadu and Union territory of Puducherry (including Karaikal but excluding Mahe and Yanam) 10 (i) Joint Commissioner of Income-tax / Additional Commissioner of Income-tax, (Benami Prohibition), Unit-1, Delhi (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Unit-1, Delhi (iii) Income Tax Officer (Benami Prohibition), Unit-1, Delhi Delhi (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of the National Capital Territory of Delhi 11 (i) J ..... 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Kochi Kochi (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of the State of Kerala, Union territory of Lakshadweep and Mahe of Union territory of Puducherry 16 (i) Joint Commissioner of Income-tax/ Additional Commissioner of Income-tax, (Benami Prohibition),Kolkata (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Kolkata (iii) Income Tax Officer (Benami Prohibition),Kolkata Kolkata (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of the States of West Bengal and Sikkim, Union territory of Andaman and Nicobar Islands 17 (i) Joint Commissioner of Income-tax/ Additional Commissioner of Income-tax, (Benami Prohibition), Guwahati (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Guwahati (iii) Income Tax Officer (Benami Prohibition), Guwahati Guwahati (i) Approvin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d (xx) Jhansi (xxi) Lalitpur (xxii) Mathura (xxiii) Firozabad (xxiv) Mainpuri (xxv) Kanshiram Nagar (xxvi) Gautam Buddha Nagar (xxvii) Bulandshahr (xxviii) Chamoli (xxix) Dehradun (xxx) Haridwar (xxxi) Pauri (xxxii) Rudraprayag (xxxiii) Saharanpur (xxxiv) Tehri Garhwal (xxxv) Uttarkashi (xxxvi) Kanpur (xxxvii) Shamli 2 [ (xxxviii) Pithoragarh (xxxix) Udham Singh Nagar (xl) Bageshwar (xli) Nainital (xlii) Almora (xliii) Champawat ] 20 (i) Joint Commissioner of Income-tax/ Additional Commissioner of Income-tax, (Benami Prohibition), Unit-1, Mumbai (ii) Assistant Commissioner of Incometax/ Deputy Commissioner of Income-tax, (Benami Prohibition), Unit-1, Mumbai (iii) Income Tax Officer (Benami Prohibition), Unit-1, Mumbai Mumbai (i) Approving Authority (ii) Initiating Officer (iii) Administrator Areas within the limits of the Municipal corporations of Greater Mumbai and Navi Mumbai 21 (i) Joint Commissioner of Income-tax/ Additional Commissioner of Income-tax, (Benami Prohibition), Unit-2, Mumbai (ii) Assistant Commissioner of Incometax ..... 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