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      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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