6. Prohibition on re-transfer of property by benamidar
6. Prohibition on re-transfer of property by benamidar.—(1) No person, being a benamidar shall re-transfer the benami property held by him to the beneficial owner or any other person acting on his behalf.
(2)
Where any property is re-transferred in contravention of the provisions of sub-section (1), the transaction of such property shall be deemed to be null and void.
(3)
The provisions of sub-sections (1) and (2) shall not apply to a transfer made in accordance with the provisions of section 190 of the Finance Act, 2016 (28 of 2016).
Amendment notes (1)
- Subs w.e.f. 1-11-2016 . Subs. by s. 8, ibid., for sections 5 and 6 (w.e.f. 1-11-2016).