CBDT Benami Transactions Informants Reward Scheme 2018 : incometaxindia.gov.in
Organisation : Central Board of Direct Taxes (CBDT)
Facility Name : Benami Transactions Informants Reward Scheme, 2018
Applicable States/UTs : All India
Website : https://incometaxindia.gov.in/Pages/tps/informants-rewards-scheme-m.aspx
| Want to ask a question / comment on this post? Go to bottom of this page. |
|---|
What is Benami Transactions Informants Reward Scheme?
The Benami Transactions Informants Reward Scheme, 2018 (‘the Scheme’) is a reward scheme introduced by the CBDT for informants giving information about the Benami property actionable under the Prohibition of Benami Property Transactions Act, 1988 (‘PBPT Act’). A person who satisfies the definition of ‘informant’ under the scheme can get a reward of up to Rs. 1 crore for giving specific information about the benami property. The identity of the Informant shall be kept confidential.
FAQ On Benami Transactions Informants Reward Scheme
Frequently Asked Questions FAQ On Benami Transactions Informants Reward Scheme
Who is considered an ‘Informant’ under this scheme?
’Informant’ means a person, including an individual or a group of individuals, who has fulfilled all of the following conditions:
** at any time, given specific information about one or more movable or immovable benami properties of which the fair market value, as defined in the Act, of movable property, and circle rate, as defined in this scheme, of immovable property is more than Rs. 1 crore, in a single Annexure – A form;
** furnished information in the prescribed form in Annexure – A to the scheme; and
** received an ‘Informant Code’ from the authority prescribed in the scheme.
Whether any ‘government servant’ can be an ‘informant’ and is eligible to be rewarded under the scheme?
No reward shall be granted under this scheme to any government servant who furnishes information or evidence obtained by him in the course of normal duties as a government servant.
A person employed by the following shall be deemed to be a Government Servant for the purpose of this scheme:
** Central Government;
** State Government;
** Union Territory Government;
** Nationalized bank;
** Local authority;
** Public sector undertaking;
** Corporation, body corporate or establishment, set up or owned by the Central Government or State Government or Union Territory Government.
What if a person giving such specific information is not allotted an Informant Code?
If the person giving such information is aggrieved in the matter of giving information and allotment of Informant Code, he may approach the PDIT/DIT (lnv.) concerned, whose decision in the matter shall be final.
Whether a person will be entitled to a reward if he furnished specific information of benami property in any manner other than through prescribed form in Annexure A?
A person shall not be entitled to any reward under the scheme if he is not an informant under the scheme, even if such person has furnished specific information of benami property in any other manner, e.g., through letter, e-mail, CD, WhatsApp, SMS, phone, posting in social networking site or publishing letter in a newspaper or any other media. A person shall be entitled to reward only if he furnishes specific information of benami property in the prescribed form in Annexure A
What is “Specific Information” as per the scheme?
The information given by the Informant can be treated as specific information under the scheme only if it includes:
** Verifiable particulars of the benami property;
** Name and address of the person in whose name the property has been acquired (Benamidar); and
** Credible basis, including supporting evidence for the information that the property was actually benami property.
Whom should a person contact if they have specific information as mentioned in the scheme?
** A person who wants to give specific information in expectation of reward may contact the Joint Commissioner of Income Tax/Additional Commissioner of Income Tax (Benami Prohibition) [‘JCIT/Addl. CIT (BP)’] having jurisdiction over the place where the benami property is situated.
** If there is more than one benami property located at different places, the person may give information to any JCITs/Addl. CITs (BP) having jurisdiction over any of these properties.
** Where the person gives information about benami properties to any other Income Tax authority, such other authority shall forward such information and guide him to the jurisdictional JCIT/Addl. CIT (BP). Where there is more than one BP unit at a place, such a person may be directed to approach the jurisdictional DGIT (Investigation).
What is the course of action if JCIT/Addl. CIT (BP) considers the information actionable?
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).
What is the course of action when a foreign person is in possession of information?
Where a foreign person wants to give information on benami property actionable under the Act, he may contact the Member (Investigation), CBDT, North Block, New Delhi-l l0001 either in person or by post or by communication at email-id member.inv@incometax.gov.in with a copy to citinv-cbdt@nic.in for further action. He may take the assistance of Income Tax Overseas Units (ITOU) working in Indian missions in some foreign countries in this regard.