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Report No. 57

5.6. Provisions of a special nature wider than benami.-

Then there are provisions of a special nature. Their scope and reach are wider than benami transfers, but they could apply also to benami. Under a provisions in the Income-tax Act1, income from property transferred to a spouse or minor child2 (other than a married daughter) without consideration is deemed to be the income of the transferor. The scope of this is wider than benami transfers.

(There are also minor provision3 in special laws as to the disclosure of benami dealings and the like).

1. Section 64, Income-tax Act.

2. Also see para. 513, infra.

3. E.g. sections 247 to 250, Companies Act, 1956.

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