property law

Few Fundamental & common issues arising under New Benami Law
1. The New Benami Law is effectively applicable from which date?
2. Whether New Benami Law shall cover the old transactions or only new transactions. If old transactions are also covered, then whether transactions done even prior to 1988 can also be covered.
3. What kind of transactions will be treated as benami transaction and whether there are any exclusions and savings?
4. Whether genuine and bona fide transaction shall also be treated as benami transaction or the transaction done with mala fide intention only will be covered?
5. What are the consequences of entering into the benami transactions? Whether there is any punishment or fine etc also.
86. Who are authorities to implement this law and what is the appellate mechanism provided?
7. What shall happen in the cases of bona fide purchaser of the properties?
8. Whether it cover only immovable properties or the other assets also?
9. Whether there would be any interplay or over lapping between Benami Law, Income Tax Law and Prevention of Money Laundering Act?
10. Whether there are any safeguards under this law to prevent unintended hardships to the people.