transferred in the name of one person and payment is made by another person is known as?
ABenami transactionCorrect AnswerIncorrect Answer
BBlack MoneyCorrect AnswerIncorrect Answer
CHawalaCorrect AnswerIncorrect Answer
DMoney LaunderingCorrect AnswerIncorrect 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’).