Those found guilty may get jail term for seven years, plus their property may also get confiscated.
To track anonymous properties, the government is scanning lands near major highways, properties in VIP areas, industrial plots, commercial flats and shops.
The government knows very well that black money is mostly invested in properties and this is the reason why it is searching properties in entire India.
According to the sources, it has come to light during the investigation that, in reality, one person is the owner of many properties but, on paper, the owner is different (but related to that person) like servant, relative or friend.
Steps in investigation:
1) Spotting such anonymous properties is the first step. Under this, from different parts of the country, information is being gathered.
2) In the second step, the owner(s) whose name is mentioned on paper, his/her source of income will be asked.
3) In the third and final step, if the answer is not satisfactory, action will be initiated under Benami Transactions (Prohibition) Amendment Act, 2016.
The government has also asked details from various government departments of the government lands. So that it becomes clear that who is illegally acquiring these land(s).
When the Act passed?
The Benami Transactions (Prohibition) Amendment Act, 2016, is passed this year in Parliament during the month of August. And from 1st of this month, the same is already being implemented.
Although, the government has started the process but taking it to its logical conclusion, will be a very hard nut to crack for the government because people with black money have always been closely affiliated to the political circles.
Not 10, 20 but 200 teams are organised who will be spotting anonymous properties.