Act Number: 45

Act Name: The Prohibition of Benami Property Transactions Act, 1988

Year: 1988

Enactment Date: 1988-09-05

Long Title: An Act to prohibit benami transactions and the right to recover property held benami and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Revenue

Section 54A: Penalty for failure to comply with notices or furnish information
    1[54A. Penalty for failure to comply with notices or furnish information.--(1) Any person who fails to, --
         (i) comply with summons issued under sub-section (1) of section 19; or
         (ii) furnish information as required under section 21, shall be liable to pay penalty of twenty-five thousand rupees for each such failure.
     (2) The penalty under sub-section (1) shall be imposed by the authority who had issued the summons or called for the information.
     (3) No order under sub-section (2) shall be passed by the authority unless the person on whom the penalty is to be imposed has been given an opportunity of being heard:
     Provided that no penalty shall be imposed if, such person proves that there were good and sufficient reasons which prevented him from complying with the summons or furnishing information.]
Notes:
1. Ins. by Act 23 of 2019, s. 179 (w.e.f. 1-9-2019).
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