In the recently amended Prohibition of Benami Property Transactions Act, 1988, it is specifically provided that the following transactions shall NOT be benami transactions where a property is held by any person being an individual in the name of his spouse or in the name of any child of such individual and the consideration for such property has been provided or paid out of the known sources of the individual.
In view of the above, if the husband buys a property in the name of his wife (who is house-wife and does not work), it would not be considered a benami property and no action would be taken against the husband, or the wife, for such transaction under the aforesaid Prohibition of Benami Property Transactions Act, 1988.
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