Bare Act Search Results

Succession Act, 1925 Complete Act

State: Central

Year: 1925

.....under this section or exempted from the operation of any of the provisions of the Indian Succession Act, 1865(10 of 1865), under section 332 of that Act are in this Act referred to as "exempted persons". PART 02 OF DOMICILE SECTION 04: APPLICATION OF PART This Part shall not apply if the deceased was a Hindu, Muhammadan, Buddhist, Sikh or Jaina. SECTION 05: LAW REGULATING SUCCESSION TO DECEASED PERSON'S IMMOVABLE AND MOVABLE PROPERTY, RESPECTIVELY (1) Succession to the immovable property in India of a person deceased shall be regulated by the law of India, wherever such person may have had his domicile at the time of his death. (2) Succession to the movable property of a person deceased is regulated by the law of the country in which such person had his domicile at the time of his death. SECTION 06: ONE DOMICILE ONLY AFFECTS SUCCESSION TO MOVABLES A person can have only one domicile for the purpose of the succession to his movable property. SECTION 07: DOMICILE OF ORIGIN OF PERSON OF LEGITIMATE BIRTH The domicile of origin of every person of legitimate birth is in the country in which at the time of his birth his father was domiciled; or, if he is a posthumous.....

Indian Succession Act, 1925 Part 9

Title: Probate, Letters of Administration and Administration of Assets of Deceased

State: Central

Year: 1925

..... (viii) The person to whom probate was, or letters of administration were, granted has subsequently become of unsound mind. INDIAN SUCCESSION ACT, 1925Chapter 4 - OF THE PRACTICE IN GRANTING AND REVOKING PROBATES AND LETTERS OF ADMINISTRATION Section 264 - Jurisdiction of District Judge in granting and revoking probates, etc. (1) The District Judge shall have jurisdiction in granting and revoking probates and letters of administration in all cases within his district. (2) Except in cases to which section 57 applies, no court in any local area beyond the limits of the towns of Calcutta, Madras and Bombay,1[***] shall, where the deceased is a Hindu, Muhammadan, Buddhist, Sikh or Jaina or an exempted person, receive applications for probate or letters of administration until the State Government has, by a notification in the Official Gazette, authorised it so to do. ______________________ 1. The words "and the province of Burma" omitted by the A.O. 1937. Section 264 - Jurisdiction of District Judge in granting and revoking probates, etc. (1) The District Judge shall have jurisdiction in granting and revoking probates and letters of administration in all cases.....

Indian Succession Act, 1925 Complete Act

Title: Indian Succession Act, 1925

State: Central

Year: 1925

.....- Short title Section2 - Definitions Section3 - Power of State Government to exempt any race, sect or tribe in the State from operation of Act Part 2 Section4 - Application of Part Section5 - Law regulating succession to deceased person's immovable and movable property, respectively Section6 - One domicile only affects succession to movables Section7 - Domicile of origin of person of legitimate birth Section8 - Domicile of origin of illegitimate child Section9 - Continuance of domicile of origin Section10 - Acquisition of new domicile Section11 - Special mode of acquiring domicile in India Section12 - Domicile not acquired by residence as representative of foreign Government, or as part of his family Section13 - Continuance of new domicile Section14 - Minor's domicile Section15 - Domicile acquired by woman on marriage Section16 - Wife's domicile during marriage Section17 - Minor's acquisition of new domicile Section18 - Lunatic's acquisition of new domicile Section19 - Succession to movable property in India in absence of proof of domicile elsewhere Part 3 Section20 - Interests and powers not acquired nor lost by marriage Section21 - Effect of marriage.....

Finance (No. 2) Act 1965 Section 16

Title: Amendment of Section 280w

State: Central

Year: 1965

In section 280W of the Income-tax Act, in clause (b) of sub-section (2), for the words "and the manner in which the excess or deficiency of annuity deposit may be adjusted or otherwise dealt with;", the following shall be substituted, namely :- "and the manner in which the amount of annuity deposit which is not required to be deposited under the provisions of this Chapter or the excess or deficiency of annuity deposit, as the case may be, may be refunded, adjusted or otherwise dealt with and the factors that may be taken into account in this connection;".

Income Tax Act, 1961 Section 80C

Title: Deduction in Respect of Life Insurance Premia, Deferred Annuity, Contributions to Provident Fund, Subscription to Certain Equity Shares or Debentures, Etc.

State: Central

Year: 1961

.....to keep in force a contract for a deferred annuity, not being an annuity plan referred to in clause (xii), on the life of persons specified in sub-section (4): Provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash payment in lieu of the payment of the annuity; (iii) by way of deduction from the salary payable by or on behalf of the Government to any individual being a sum deducted in accordance with the conditions of his service, for the purpose of securing to him a deferred annuity or making provision for his spouse or children, in so far as the sum so deducted does not exceed one-fifth of the salary; (iv) as a contribution by an individual to any provident fund to which the Provident Funds Act, 1925 (19 of 1925), applies; (v) as a contribution to any provident fund set-up by the Central Government and notified by it in this behalf in the Official Gazette, where such contribution is to an account standing in the name of any person specified in sub-section (4); (vi) as a contribution by an employee to a recognised provident fund; (vii) as a contribution by an employee to an approved superannuation.....

Indian Succession Act, 1925 Chapter 20

Title: Of Bequests of Annuities

State: Central

Year: 1925

.....his life purchased for him or to receive such a sum as Will be sufficient for the purchase of such an annuity. (ii) A bequeaths a fund to B for his life, and directs that after B's death, it shall be laid out in the purchase of an annuity for C. B and C survive the testator. C dies in B's lifetime. On B's death the fund belongs to the representative of C. Section 175 - Abatement of annuity Where an annuity is bequeathed, but the assets of the testator are not sufficient to pay all the legacies given by the Will, the annuity shall abate in the same proportion as the other pecuniary legacies given by the Will. Section 176 - Where gift of annuity and residuary gift, whole annuity to be first satisfied Where there is a gift of an annuity and a residuary gift, the whole of the annuity is to be satisfied before any part of the residue of paid to the residuary legatee, and, if necessary, the capital of the testator's estate shall be applied for that purpose.

Indian Succession Act, 1925 Section 174

Title: Period of Vesting Where Will Directs That Annuity Be Provided out of Proceeds of Property, or out of Property Generally, or Where Money Bequeathed to Be Invested in Purchase of Annuity

State: Central

Year: 1925

Where the Will directs that an annuity shall be provided for any person out of the proceeds of property, or out of property generally, or where money is bequeathed to be invested in the purchase of any annuity for any person, on the testator's death, the legacy vests in interest in the legatee, and he is entitled at his option to have an annuity purchased for him or to receive the money appropriated for that purpose by the Will. Illustrations (i) A by his Will directs that his executors shall, out of his property, purchase an annuity of 1,000 rupees for B. B is entitled at his option to have an annuity of 1,000 rupees for his life purchased for him or to receive such a sum as Will be sufficient for the purchase of such an annuity. (ii) A bequeaths a fund to B for his life, and directs that after B's death, it shall be laid out in the purchase of an annuity for C. B and C survive the testator. C dies in B's lifetime. On B's death the fund belongs to the representative of C.

Income Tax Act, 1961 Section 80CCA

Title: Deduction in Respect of Deposits Under National Savings Scheme or Payment to a Deferred Annuity Plan

State: Central

Year: 1961

.....of persons has been dissolved after a deduction has been allowed under sub-section (1), the provisions of sub-section (2) shall apply as if the person in receipt of income referred to therein is the assessee. Explanation I : For the removal of doubts, it is hereby declared that interest on the deposits made under the scheme referred to in clause (i) of sub-section (1) shall not be chargeable to tax except in the manner and to the extent specified in sub-section (2). Explanation II : For the purposes of this section, Life Insurance Corporation shall have the same meaning as in clause (a) of sub-section (8) of section 80C*. _________________ * Reference to section 80C needs correction.

Indian Succession Act, 1925 Section 173

Title: Annuity Created by Will Payable for Life Only Unless Contrary Intention Appears Will

State: Central

Year: 1925

Where an annuity is created by Will, the legatee is entitled to receive it for his life only, unless a contrary intention appears by the Will, notwithstanding that the annuity is directed to be paid out of the property generally, or that a sum of money is bequeathed to be invested in the purchase of it. Illustrations (i) A bequeaths to B 500 rupees a year. B is entitled during his life to receive the annual sum of 500 rupees. (ii) A bequeaths to B the sum of 500 rupees monthly. B is entitled during his life to receive the sum of 500 rupees every month. (iii) A bequeaths an annuity of 500 rupees to B for life, and on B's death to C. B is entitled to an annuity of 500 rupees during his life. C, if he survives B, is entitled to an annuity of 500 rupees from B's death until his own death.

Indian Succession Act, 1925 Chapter 9

Title: Of the Payment and Apportionment of Annuities

State: Central

Year: 1925

.....commencement, it shall commence from the testator's death, and the first payment shall be made at the expiration of a year next after that event. Section 339 - When annuity, to be paid quarterly or monthly, first falls due Where there is a direction that the annuity shall be paid quarterly or monthly, the first payment shall be due at the end of the first quarter, or first month, as the case may be, after the testator's death; and shall, if the executor or administrator thinks fit, be paid when due, but the executor or administrator shall not be bound to pay it till the end of the year. Section 340 - Dates of successive payments when first payment directed to be made within a given time or on day certain: death of annuitant before date of payment (1) Where there is a direction that the first payment of an annuity shall be made within one month or any other division of time from the death of the testator or on a day certain, the successive payments are to be made on the anniversary of the earliest day on which the Will authorises the first payment to be made. (2) If the annuitant dies in the interval between the times of payment, an apportioned share of the annuity.....