For scores of chartered accountants (CAs) and tax experts across the country, their phones did not stop ringing since Wednesday morning. It all started off with an advertisement by the income-tax (I-T) department in leading national dailies on Wednesday, sensitising people about the pitfalls of entering into benami property transaction.

Illustration: Ajay Mohanty

“Many clients have expressed their concern and apprehensions around implementation of the Benami Transactions Act,” said a Delhi-based CA, conceding he and his team have received at least a dozen-odd such enquiries in the course of the day. Similar was the case with many other tax experts.

Some experts said this could be a precursor to the government seeking more information from people about the ownership status of immovable properties. “The government may build a database of suspected benami properties before acting on them,” said a tax consultant.