Which of the following statement(s) is/are correct about the ‘Benami Transactions (Prohibition) Amendment Act, 2016’?
1. It defines ‘benamidar’ as the person who transfers property in the name of a fictitious person in order to conceal the identity of his ownership.
2. The word ‘property’ can be defined as a movable or immovable, tangible or intangible, and corporeal or incorporeal under the said act.
Select the correct codes from below -