Title : Valuation of Benefits from Interests Ceasing on Death
State : Central
Year : 1953
the value of the benefit accruing or arising or arising from the cesser of an interest ceasing on the death of the deceased shall.- (a) if the interest extended to the whole income of the property, be the principal value of that property ; and (b) if the .....
View Complete Act List Judgments citing this sectionTitle : Controller May Accept and Certify Valuation when Convenient
State : Central
Year : 1953
the controller on application from a person accountable for the duty on any property forming part of an estate shall, where he considers that if can conveniently be done, certify the amount of the valuation accepted by him for any class or description of .....
View Complete Act List Judgments citing this sectionTitle : Reasonable Funeral Expenses, and with Some Exceptions, Debts and Incumbrances to Be Allowed for in Determining Chargeable Value of Estate
State : Central
Year : 1953
in determining the value of an estate for the purpose of estate duty, allowance shall be made for funeral expenses (not exceeding rupees one thousand) and for debts and incumbrances; but an allowance shall not be made.- (a) for debts incurred by the .....
View Complete Act List Judgments citing this sectionTitle : Limitations on Debts Deductible
State : Central
Year : 1953
where a debt or incumbracne has been incurred or created in whole or in part for the purpose of or in consideration for the purchase or acquisition or extinction, whether by operation of law or otherwise of any interest in expectancy in any property .....
View Complete Act List Judgments citing this sectionTitle : Further Limitations
State : Central
Year : 1953
(1) any allowance which, but for this provision, would be made under section 44 for a debt incurred by the deceased as mentioned include (a) of that section or for an incumbrance created by a disposition made by the deceased as therein mentioned, shall be .....
View Complete Act List Judgments citing this sectionTitle : Method of Collection of Duty
State : Central
Year : 1953
estate duty may be collected by such means and in such manner as the board may prescribe.
View Complete Act List Judgments citing this sectionTitle : Payment of Duty May Be Accepted in Prescribed Government Securities
State : Central
Year : 1953
the board may prescribed that government securities shall be accepted in payment of estate duty on such terms as it thinks fit.
View Complete Act List Judgments citing this sectionTitle : Persons Accountable May Include Trustees in Certain Cases
State : Central
Year : 1953
(1) where an interest limited to cease on a death within the meaning of section 11 after becoming an interest in possession is disposed of or determines wholly or partly then whatever the nature of the property in which the interest subsisted, the .....
View Complete Act List Judgments citing this sectionTitle : Every Person Believed to Be in Possession to Deliver Statement of Particulars of Property as Required by Controller
State : Central
Year : 1953
every person accountable for estate duty, every company to which, in the opinion of the controller, a transfer of property has been made by the deceased as mentioned in section 17, every person who is or was at any time an officer or auditor of such a .....
View Complete Act List Judgments citing this sectionTitle : Penalty for Default
State : Central
Year : 1953
any person who without reasonable cause has failed to comply with the provisions of section 53 or section 55, or has failed to comply with the said provisions within the time allowed, shall be liable to pay a penalty of one thousand rupees or a sum equal .....
View Complete Act List Judgments citing this section