Question

Any such transaction, in which any property is transferred in the name of one person and payment is made by another person is known as?

A Benami transaction Correct Answer Incorrect Answer
B Black Money Correct Answer Incorrect Answer
C Hawala Correct Answer Incorrect Answer
D Money Laundering Correct Answer Incorrect Answer

Solution

In Benami Transaction, a property is transferred or held by one person (Mr A, the ‘Benamidar’) and the consideration for such property is paid by another person (mr. B, the ‘beneficial owner’).

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