2018
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Income tax Department
|
|
|
Telecom Regulatory Department
|
|
|
External Affairs department
|
|
|
Information and Technology Department
|
Detailed explanation-1: -New Benami Transactions Informants Reward Scheme, 2018 launched by the Income Tax Department.
Detailed explanation-2: -What is Benami Transactions Informants Reward Scheme, 2018? The government launched the scheme to reward an individual reporting a Benami property. As per the scheme, an informant will be eligible for a reward of up to Rs 1 crore.
Detailed explanation-3: -Initiating Officer means an Assistant Commissioner(“AC”) or Deputy Commissioner (“DC”) as defined under clauses (9A) and (19A) respectively of section 2 of the Income-tax Act, 1961.
Detailed explanation-4: -According to the amendment, the Competent Authority authorized under section 5 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property Act), 1976 (SAFEMA) shall be the Adjudicating Authority to exercise jurisdiction, powers and authority conferred by the Benami Act.