The Centre is planning to give out cash rewards to the tune of Rs 1 crore to secret informers who provide information to investigative agencies about benami properties.
The initiative is likely to be announced by next month.In simple terms, if you rat out on those who deal with benami properties, you will be richer by Rs 1 crore.
A senior Central Board of Direct Taxes (CBDT) official who is part of the policy-making said on condition of anonymity, “An informer will get minimum Rs 15 lakh and maximum Rs 1 crore.”
The information will have to be acute and identity of the informer will be kept secret.”The department will never disclose the identity as this could endanger the informer. The Benami Property Law introduced last year lacked this provision,” he said.
It is a common practice by the Enforcement Directorate, the Income Tax department and Directorate of Revenue Intelligence to reward informers.
