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Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CLAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer?.

Solutions for Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. Benami transaction is committed where a property transaction is carried out under a fictitious name without his knowledge. A property is purchased and registered in the name of Mr A, a fictitious entity. Mr B creates some paper showing Mr. A has agreed to hold the property for Mr B. This makes Mr B the beneficial owner of the property. Whether the offence committed by Mr B is a Benami transaction?a)Offence committed by Mr B is covered by Benami transactions as he had forged documents and forged records for registering the property in name of fictitious entity.b)Offence committed by Mr B is not covered by Benami transactions as Mr A is the guilty party therefore Mr. B must be discharged immediately.c)Offence committed by Mr B is covered by Benami transactions since Mr. B had no guilty mind or evil intentions.d)Offence committed by Mr B is not covered by Benami transactions as Mr. B is contributing in the growth of the national economy.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CLAT tests.