Current Affairs - International - Discussion

The Income Tax Department has issued a new reward scheme titled "Benami Transactions Informants Reward Scheme, 2018" to seek people's participation in the Income Tax Department's efforts to unearth black money and to reduce tax evasion. Under the new rewards scheme, a reward up to Rs 1 crore would be given to those who can give specific information in a prescribed manner to the Joint or Additional Commissioners of Benami Prohibition Units (BPUs) in Investigation Directorates of Income Tax Department about: Benami transactions and properties as well as proceeds from such properties which are actionable under Benami Property Transactions Act, 1988, as amended by Benami Transactions (Prohibition) Amendment Act, 2016.